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 neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Oakwood Hills was a Seller's Market.

Key Takeaway

Oakwood Hills is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Oakwood Hills, IL

How much do homes in Oakwood Hills, IL cost?

Median Sold Price

$337,000

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,505(+7.8%)

Key Takeaway

Homes in Oakwood Hills have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in Oakwood Hills was $337,000 in October 2024, up 7.8% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $145K$195K
+34.5%
2 $224.9K$188K
-16.4%
3 $310K$337K
+8.7%
4 $467.5K$431K
-7.8%
5+ $447.5K-
N/A

Summary: Oakwood Hills housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.5%, 2 bedroom homes decreased by 16.4%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Algonquin Township
+7.9%
Oakwood Hills
+7.8%
Nunda Township
+4.8%

Housing Supply in Oakwood Hills, IL

How many homes are available in Oakwood Hills, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
12120.0%

Summary: The Oakwood Hills real estate market had 12 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 23
+50.0%
3 66
0.0%
4 32
-33.3%
5+ 00
0.0%

Summary: The Oakwood Hills housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oakwood Hills, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Oakwood Hills in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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

Oct 2023Oct 2024CHANGE
5 Days8 Days+45.5%

Summary: Homes in Oakwood Hills had an average of 8 days on market in Oct 2024, up by 45.5% compared to last year.

Breakdown of Home Sale Times

2 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 October 2024, 2 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 6 Days Ago

Newest Listings in Oakwood Hills, IL

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