Is Oak Lawn, 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 Lawn has remained a Seller's Market.
Housing Prices in Oak Lawn, IL
How much do homes in Oak Lawn, IL cost?
Median Sold Price
$260,491
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Oak Lawn was $260,491 in June 2024, up 5.1% 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 | $100K | $114.2K | +14.2% |
2 Bedrooms | $151.5K | $172K | +13.5% |
3 Bedrooms | $290K | $301.6K | +4.0% |
4 Bedrooms | $334.5K | $347.5K | +3.9% |
5+ Bedrooms | $414.9K | $370K | -10.8% |
Summary: Oak Lawn housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.2%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes decreased by 10.8%.
Median Sold Price Compared To Nearby Cities
Chicago Ridge | $169.5K | $188K | +10.9% |
Hometown | $185.5K | $201.5K | +8.6% |
Worth Township | $233.6K | $250K | +7.0% |
Burbank | $275K | $291K | +5.8% |
Oak Lawn | $247.9K | $260.4K | +5.1% |
Housing Supply in Oak Lawn, IL
How many homes are available in Oak Lawn, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
208 | 226 | +8.7% |
Summary: The Oak Lawn real estate market had 226 homes for sale in June 2024, a 8.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 13 | +8.3% |
2 Bedrooms | 59 | 54 | -8.5% |
3 Bedrooms | 74 | 88 | +18.9% |
4 Bedrooms | 47 | 51 | +8.5% |
5+ Bedrooms | 16 | 20 | +25.0% |
Summary: The Oak Lawn housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 8.5%, 3 bedroom homes increased by 18.9%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
66 | 55 | -16.7% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 55 homes were sold or pending in Oak Lawn in June 2024, down by 16.7% month-over-month. Of the 55 sold homes, 33% were sold under asking, 15% were sold at asking, and 53% were sold over asking.
Days on Market for Oak Lawn, IL
How long does it take to sell a home in Oak Lawn, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
19 Days | 17 Days | -10.2% |
Summary: Homes in Oak Lawn had an average of 17 days on market in Jun 2024, down by 10.2% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 55 homes were sold in Oak Lawn; 82% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.