Is Oak Forest, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$258,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Oak Forest was $258,000 in March 2024, down 0.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.5K | $100K | +14.3% |
2 Bedrooms | $186K | $185K | -0.5% |
3 Bedrooms | $269.9K | $271.5K | +0.6% |
4 Bedrooms | $319.9K | $320K | 0.0% |
5+ Bedrooms | $365.5K | $335K | -8.3% |
Summary: Oak Forest housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 0.6%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 8.3%.
Median Sold Price Compared To Nearby Cities
Markham | $140K | $155K | +10.7% |
Midlothian | $208K | $220K | +5.8% |
Bremen Township | $210.3K | $216.4K | +2.9% |
Oak Forest | $260K | $258K | -0.8% |
Country Club Hills | $198.5K | $189.9K | -4.3% |
Housing Supply in Oak Forest, IL
How many homes are available in Oak Forest, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
72 | 80 | +11.1% |
Summary: The Oak Forest real estate market had 80 homes for sale in March 2024, a 11.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 6 | +100.0% |
2 Bedrooms | 16 | 16 | 0.0% |
3 Bedrooms | 32 | 37 | +15.6% |
4 Bedrooms | 17 | 18 | +5.9% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Oak Forest housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
21 | 22 | +4.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Oak Forest in March 2024, up by 4.8% month-over-month. Of the 22 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 20 Days | -52.1% |
Summary: Homes in Oak Forest had an average of 20 days on market in Mar 2024, down by 52.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 22 homes were sold in Oak Forest; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.