As of March 2025, the real estate market in South East Oak Park continues to exhibit strong seller’s market characteristics. Here’s an overview of the current market dynamics:
Current Listings and Pricing
- Active Listings: There are currently five homes available for sale in South East Oak Park, encompassing single-family homes, condos, townhouses, and multi-family properties.
- Average Listing Price: The average asking price for single family homes is $492,000.
Market Activity
- Pending Sales: Five homes are currently under contract.
- Recent Sales: Over the past three months, 16 homes have been sold in SouthEast Oak Park, achieving an average sales price of $483,000 for a single familyhome while the average condo / townhouse is $221,000. In comparison, theaverage sales price across all of Oak Park during the same period was $649,000.
Market Conditions
- Inventory Levels: The area has an average inventory lasting 1.1 months,reinforcing the presence of a strong seller’s market. Typically, a seller’s market ischaracterized by one to three months of housing inventory, whereas a buyer’smarket is indicated by more than six months of inventory.
- Average Market Time: Homes in the 60304 ZIP code are selling swiftly, with an average market time of 39 days, as reported by Infosparks.
Spring Home Maintenance Recommendations
With the arrival of spring, it’s an opportune time for homeowners to perform essential maintenance to preserve and enhance their property’s value. Here are some key tasks to consider:
- Gutter Inspection and Cleaning: Clear debris from gutters and downspouts to ensure proper water drainage and prevent potential foundation damage. Repair any signs of wear or damage to avoid water-related issues.
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