Is Oakland, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oakland is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Oakland was a Buyer's Market.

Key Takeaway

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

Housing Prices in Oakland, IL

How much do homes in Oakland, IL cost?

Median Sold Price

$296,250

$198/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$77,050(+35.2%)

Key Takeaway

Homes in Oakland have sold for 35.2% more than they did a month ago.

Summary: The median home sold price in Oakland was $296,250 in October 2024, up 35.2% from last month, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $219.2K$230K
+4.9%
3 -$430K
N/A
4 --
N/A
5+ --
N/A

Summary: Oakland housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.9%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Oakland, IL

How many homes are available in Oakland, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2023+15.0%

Summary: The Oakland real estate market had 23 homes for sale in October 2024, a 15.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 67
+16.7%
3 1010
0.0%
4 01
+100.0%
5+ 34
+33.3%

Summary: The Oakland 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 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 4 homes were sold or pending in Oakland in October 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Oakland, IL

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

Average Sale Time

Sep 2024Oct 2024CHANGE
23 Days37 Days+64.1%

Summary: Homes in Oakland had an average of 37 days on market in Oct 2024, up by 64.1% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 4 homes were sold in Oakland; 50% of homes were sold within 30 days, 50% 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 21 Days Ago

Newest Listings in Oakland, IL

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