Is Oakwood Hills, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oakwood Hills is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Oakwood Hills has remained a Seller's Market.

Key Takeaway

Oakwood Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Oakwood Hills, IL

How much do homes in Oakwood Hills, IL cost?

Median Sold Price

$322,500

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$32,500(+11.2%)

Key Takeaway

Homes in Oakwood Hills have sold for 11.2% more than they did a year ago.

Summary: The median home sold price in Oakwood Hills was $322,500 in March 2024, up 11.2% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $116.5K$145K
+24.5%
2 $245K$270K
+10.2%
3 $297.4K$318.9K
+7.2%
4 $370K$545K
+47.3%
5+ -$447.5K
N/A

Summary: Oakwood Hills housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.5%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 47.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Oakwood Hills
+11.2%
Algonquin Township
+7.9%
Nunda Township
+6.7%

Housing Supply in Oakwood Hills, IL

How many homes are available in Oakwood Hills, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
45+25.0%

Summary: The Oakwood Hills real estate market had 5 homes for sale in March 2024, a 25.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 11
0.0%
3 23
+50.0%
4 11
0.0%
5+ 00
0.0%

Summary: The Oakwood Hills housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
03+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oakwood Hills, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Oakwood Hills in March 2024, up by 100.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.

Days on Market for Oakwood Hills, IL

How long does it take to sell a home in Oakwood Hills, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
7 Days7 Days+9.5%

Summary: Homes in Oakwood Hills had an average of 7 days on market in Mar 2024, up by 9.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Oakwood Hills are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 3 homes were sold in Oakwood Hills; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in Oakwood Hills, IL

Nearby Markets to Oakwood Hills, IL

What housing markets are near Oakwood Hills, IL?