Homes for Sale in Oak Lawn, IL Real Estate
140 homes available on Ofirio
Current live statistics for homes in Oak Lawn, Illinois
12 new real estate properties in Oak Lawn, Illinois have been added to Ofirio in the last 7 days.
Of those new properties:
- 0 properties under $100k were added. In total there are 5 available for sale.
- 6 properties under $200k were added. In total there are 41 available for sale.
- 9 properties under $300k were added. In total there are 92 available for sale.
- 0 luxury properties were added. In total there are 0 available for sale.
Oak Lawn, Illinois has a low demand for real estate. This is determined by the difference between the list price and the closed price, which on average is 2% lower than than the list price. Homes in Oak Lawn, Illinois are on the market for 62 days, on average among all of our listings.
This week the following real estate properties became available for sale:
- 9 new cheap properties
- 7 new single family homes
- 7 new properties that don't have HOA
- 6 new properties that have 2 bedrooms
The biggest change in price is in the Cheap segment and it is 75% ($60,869) more than the week prior.
The average closing price for real estate in Oak Lawn Illinois has fallen by 12% from the last week, which amounted to $254,178.
Monthly Market Overview for houses in Oak Lawn, Illinois
As of January 2023 Oak Lawn, IL is a seller market which means homes sell faster at a higher price. In January 2023, 5 homes (29.4%) sold at asking price, 12 homes (70.6%) sold below asking price, and 0 homes (0.0%) were sold above asking price. If purchasing a home there is little room to negotiate the price.
The median home price decreased by 14.3% from $259,500 in January 2022 to $222,500 in January 2023. The number of homes sold in Oak Lawn, IL has decreased by 68.5% over the last year from 54 in January 2022 to 17 homes in January 2023.
Homes in Oak Lawn, IL have sold for 18.4% less per ft² than they did a year ago. As of January 2023 the average price per square foot is $147.
FAQ
With Ofirio Real Estate Experts
Are house prices dropping in Oak-lawn, Illinois?
When comparing markets from 2021 to 2022, it's clear that Oak-Lawn real estate prices have generally increased. The average price of homes for sale in Oak-Lawn is $278k.
Where is the cheapest place to buy a house in Oak-lawn, Illinois?
Oak Lawn, Illinois is a generally cheap place to buy a house. Homes for sale in Oak Lawn have an average price of $278k, making it a relatively affordable area for Illinois homebuyers.
Why are houses in Oak-lawn, Illinois so cheap?
Oak Lawn is considered a relatively cheap area for Illinois homebuyers. A Chicago suburb, this area is located only 18.2 miles from the city center, and is considered a good place to live. Homes for sale in Oak Lawn average at $278k, which is slightly above the Illinois average. However, this price is still well below the Chicago average, making it a more affordable area for those interested in living close to downtown. Factors affecting both the Oak-Lawn real estate market and overall cost of living include its relatively low crime rate and its close proximity to downtown Chicago.
Is it a good time to buy property in Oak-lawn, Illinois?
As of late 2022, the amount of homes for sale in Oak-Lawn is lower than the amount of people interested in buying them. This means that Oak-Lawn is currently in a seller’s market, which favors homeowners and those who are in a position to sell their property. Generally speaking, the best time to buy a property is when the market is favorable for buyers.
What month is cheaper to buy a house in Oak-lawn, Illinois?
Generally speaking, the housing market tends to be slower during the winter months, and buyers may have more negotiating power during this time. This can lead to more competitive pricing and better deals for buyers. However, It's best to consult a local real estate agent or do your own research to get an accurate understanding of the Oak Lawn real estate market, as these professionals will be more aware of local market trends.
What is Oak lawn, Illinois famous for?
Oak Lawn, Illinois is a village located in Cook County, and is considered a suburb of Chicago. This city is known for its diverse population, variety of local businesses, and is also home to a number of notable landmarks and attractions, which include the following:
The Oak Lawn Public Library is known as one of the most active public libraries in the state of Illinois.
The Oak Lawn Park District offers a wide range of recreational activities, including sports leagues, fitness classes, and special events.
The Oak Lawn Community High School is one of the largest high schools in the state, and is known for its strong academic programs and extracurricular activities.
The Oak Lawn Ice Arena is a popular spot for ice skating and hockey, and also hosts various events and competitions throughout the year.
The Oak Lawn Farmers Market is a fun local event to attend during the summer months, and features fresh produce, baked goods, and other local products.
Additionally, Oak Lawn is also known for its diverse restaurants, which offer a variety of cuisines and styles for locals and visitors to enjoy.
Why move to Oak Lawn, Illinois?
Oak Lawn, Illinois is considered a suburb of Chicago, and offers a number of benefits for those considering moving there. Some reasons people might consider moving to Oak Lawn include:
Proximity to Chicago: Oak Lawn is located just a short drive from the city of Chicago, making it a great option for those who want to live in a suburban area while remaining convenient to urban amenities.
Strong community: Oak Lawn is known for having a strong sense of community. It is home to many local organizations and events, which brings local residents together.
Good schools: Oak Lawn is home to a number of highly rated public schools, making it a popular choice among families with children.
Affordable housing: The Oak Lawn real estate market has a variety of housing options and an average home price of $278k. As such, it is often considered a more affordable alternative to living within the Chicago city limits.
Job Opportunities: Oak Lawn has a strong economy with a variety of job opportunities, including positions in healthcare, retail, manufacturing and more.
Recreational activities: Oak Lawn offers a wide range of recreational activities through its Oak Lawn Park District. These include sports leagues, fitness classes, and special events.
Diverse restaurants: Oak Lawn is known for its vibrant assortment of local restaurants, offering residents a variety of food options.
Access to nature: Oak Lawn has a number of parks and green spaces, making it a considerable option for nature-lovers and outdoor enthusiasts.