Is Oak Park Township, 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 Park Township has remained a Seller's Market.
Housing Prices in Oak Park Township, IL
How much do homes in Oak Park Township, IL cost?
Median Sold Price
$379,047
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Oak Park Township was $379,047 in March 2024, down 4% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $143.5K | +6.3% |
2 Bedrooms | $222K | $225.5K | +1.6% |
3 Bedrooms | $450K | $475K | +5.6% |
4 Bedrooms | $600K | $573.7K | -4.4% |
5+ Bedrooms | $675K | $677K | 0.3% |
Summary: Oak Park Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Cities
Berwyn | $295.6K | $315K | +6.5% |
Berwyn Township | $296.2K | $315K | +6.3% |
Chicago | $345.6K | $346.4K | 0.2% |
Oak Park Township | $394.8K | $379K | -4.0% |
Oak Park | $394.8K | $379K | -4.0% |
Housing Supply in Oak Park Township, IL
How many homes are available in Oak Park Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
195 | 216 | +10.8% |
Summary: The Oak Park Township real estate market had 216 homes for sale in March 2024, a 10.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 33 | 34 | +3.0% |
2 Bedrooms | 40 | 40 | 0.0% |
3 Bedrooms | 62 | 69 | +11.3% |
4 Bedrooms | 35 | 42 | +20.0% |
5+ Bedrooms | 25 | 31 | +24.0% |
Summary: The Oak Park Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 24%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
43 | 60 | +39.5% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 60 homes were sold or pending in Oak Park Township in March 2024, up by 39.5% month-over-month. Of the 60 sold homes, 53% were sold under asking, 10% were sold at asking, and 37% were sold over asking.
Days on Market for Oak Park Township, IL
How long does it take to sell a home in Oak Park Township, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
42 Days | 51 Days | +21.3% |
Summary: Homes in Oak Park Township had an average of 51 days on market in Mar 2024, up by 21.3% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During March 2024, 60 homes were sold in Oak Park Township; 65% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.