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 16 Days Ago

Newest Listings in Oakwood Hills, IL

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