Is Oak Forest, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Oak Forest has remained a Seller's Market.
Housing Prices in Oak Forest, IL
How much do homes in Oak Forest, IL cost?
Median Sold Price
$275,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Oak Forest was $275,000 in June 2024, up 7.5% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.5K | $101.9K | +16.5% |
2 Bedrooms | $183K | $187.5K | +2.5% |
3 Bedrooms | $269.9K | $285.2K | +5.7% |
4 Bedrooms | $312.5K | $330K | +5.6% |
5+ Bedrooms | $330.7K | $349.9K | +5.8% |
Summary: Oak Forest housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
Markham | $136.5K | $164K | +20.1% |
Oak Forest | $255.9K | $275K | +7.5% |
Bremen Township | $209.9K | $224K | +6.7% |
Country Club Hills | $185.4K | $195K | +5.1% |
Midlothian | $219K | $225K | +2.7% |
Housing Supply in Oak Forest, IL
How many homes are available in Oak Forest, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
79 | 93 | +17.7% |
Summary: The Oak Forest real estate market had 93 homes for sale in June 2024, a 17.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 14 | 21 | +50.0% |
3 Bedrooms | 40 | 42 | +5.0% |
4 Bedrooms | 17 | 18 | +5.9% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Oak Forest housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
28 | 25 | -10.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Oak Forest in June 2024, down by 10.7% month-over-month. Of the 25 sold homes, 36% were sold under asking, 8% were sold at asking, and 56% were sold over asking.
Days on Market for Oak Forest, IL
How long does it take to sell a home in Oak Forest, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
16 Days | 17 Days | +7.3% |
Summary: Homes in Oak Forest had an average of 17 days on market in Jun 2024, up by 7.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 25 homes were sold in Oak Forest; 96% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.