$1,876 Closing Credit*
$158,000
3 Beds
•1 Full Bath
Listing Office: RE/MAX ULTIMATE
Is Oakwood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Oakwood has remained a Seller's Market.
Key Takeaway
Oakwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oakwood, IL
How much do homes in Oakwood, IL cost?
Median Sold Price
$200,000
$94/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$50,000(+33.3%)
Key Takeaway
Homes in Oakwood have sold for 33.3% more than they did a year ago.
Summary: The median home sold price in Oakwood was $200,000 in November 2024, up 33.3% from last year, and the median price per square foot was $94.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $103.9K | -5.5% |
| 2 Bedrooms | $57.7K | $139.2K | +141.0% |
| 3 Bedrooms | $180.5K | $190K | +5.3% |
| 4 Bedrooms | $187.5K | $230K | +22.7% |
| 5+ Bedrooms | - | $242.5K | N/A |
Summary: Oakwood housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.5%, 2 bedroom homes increased by 141%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Oakwood | $150K | $200K | +33.3% |
| Oakwood Township | $147.5K | $176.7K | +19.8% |
Housing Supply in Oakwood, IL
How many homes are available in Oakwood, IL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 12 | -14.3% |
Summary: The Oakwood real estate market had 12 homes for sale in November 2024, a 14.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Oakwood housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oakwood, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Oakwood in November 2024, up by 100.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for Oakwood, IL
How long does it take to sell a home in Oakwood, IL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 3 Days | 30 Days | +927.8% |
Summary: Homes in Oakwood had an average of 30 days on market in Nov 2024, up by 927.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oakwood are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Oakwood; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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