Is Oak Lawn, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$254,366
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Oak Lawn was $254,366 in April 2024, up 3.8% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $100K | $110K | +10.0% |
2 Bedrooms | $150.4K | $168.5K | +12.0% |
3 Bedrooms | $286.2K | $305K | +6.6% |
4 Bedrooms | $331.5K | $340K | +2.6% |
5+ Bedrooms | $420K | $355K | -15.5% |
Summary: Oak Lawn housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 15.5%.
Median Sold Price Compared To Nearby Cities
Chicago Ridge | $167.5K | $186K | +11.0% |
Burbank | $265K | $290K | +9.4% |
Hometown | $182K | $199K | +9.3% |
Worth Township | $231.3K | $246.5K | +6.6% |
Oak Lawn | $245K | $254.3K | +3.8% |
Housing Supply in Oak Lawn, IL
How many homes are available in Oak Lawn, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
184 | 215 | +16.8% |
Summary: The Oak Lawn real estate market had 215 homes for sale in April 2024, a 16.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 10 | +66.7% |
2 Bedrooms | 58 | 69 | +19.0% |
3 Bedrooms | 71 | 71 | 0.0% |
4 Bedrooms | 38 | 51 | +34.2% |
5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The Oak Lawn housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 19%, 3 bedroom homes remained the same, 4 bedroom homes increased by 34.2%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
62 | 62 | 0.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 62 homes were sold or pending in Oak Lawn in April 2024, the same as the previous month. Of the 62 sold homes, 35% were sold under asking, 29% were sold at asking, and 35% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
22 Days | 28 Days | +30.6% |
Summary: Homes in Oak Lawn had an average of 28 days on market in Apr 2024, up by 30.6% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 62 homes were sold in Oak Lawn; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.