Is Oakwood Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oakwood Township is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Oakwood Township was a Buyer's Market.

Key Takeaway

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

Housing Prices in Oakwood Township, IL

How much do homes in Oakwood Township, IL cost?

Median Sold Price

$176,750

$92/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$29,250(+19.8%)

Key Takeaway

Homes in Oakwood Township have sold for 19.8% more than they did a year ago.

Summary: The median home sold price in Oakwood Township was $176,750 in November 2024, up 19.8% from last year, and the median price per square foot was $92.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $81.9K$103.9K
+26.8%
2 $80K$127.2K
+59.0%
3 $180K$176.7K
-1.8%
4 $187.5K$230K
+22.7%
5+ $346K$242.5K
-29.9%

Summary: Oakwood Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.8%, 2 bedroom homes increased by 59%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes decreased by 29.9%.

Median Sold Price Compared To Nearby Cities

Oakwood
+33.3%
Oakwood Township
+19.8%
Catlin Township
+1.4%

Housing Supply in Oakwood Township, IL

How many homes are available in Oakwood Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2116-23.8%

Summary: The Oakwood Township real estate market had 16 homes for sale in November 2024, a 23.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 85
-37.5%
3 77
0.0%
4 32
-33.3%
5+ 22
0.0%

Summary: The Oakwood Township 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 37.5%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
660.0%

Asking Price vs. Sold Price

5 Homes Were 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 Township, 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 Township in November 2024, the same as the previous 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 Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
3 Days30 Days+927.8%

Summary: Homes in Oakwood Township 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

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 6 homes were sold in Oakwood Township; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Oakwood Township, IL

Nearby Markets to Oakwood Township, IL

What housing markets are near Oakwood Township, IL?