Oak Park Real Estate
Market Report

The Oak Park market continues to favor sellers in the single-family segment. The trailing 12-month median sales price reached $685,000 as of August 2026, up 7.0% from a year earlier, while the average eased slightly to $738,103, up 5.8%. Average market time held at 28 days. Inventory of single-family homes is down 30.3% year over year, and months supply sits at 0.8 months, the tightest reading in the period tracked.

The Oak Park condo and townhome market is accelerating. Average sales prices on a trailing 12-month basis rose 14.3% to $299,127 as of August 2026, the strongest annual gain in either segment, with price per square foot up 8.0% to $243. Average market time was 44 days on a trailing 12-month basis, up 7.3% from a year earlier, so pace is easing even as prices climb, and it remains slower than the single-family side. New listings rose 8.0% year over year on a trailing 12-month basis.

Oak Park home prices are trending up in both segments. The single-family trailing 12-month median reached $685,000 in August 2026, a 7.0% increase from August 2025, while the average sits at $738,103, up 5.8%. Price per square foot is up 5.3% to $320. For condos and townhomes, the average sales price rose 14.3% to $299,127 on a trailing 12-month basis, and price per square foot is up 8.0% to $243. Both segments have shown consistent appreciation over the past three years.

Single-family homes in Oak Park are selling quickly. The trailing 12-month average market time was 28 days as of August 2026, down 12.5% from a year earlier. Well-priced, well-presented homes often receive multiple offers within the first weekend. Condos and townhomes take longer on average, 44 days on a trailing 12-month basis, up 7.3% from a year earlier, though this varies significantly by price point and condition.

Oak Park is firmly a seller's market for single-family homes. Months supply sits at 0.8 months, well below the 3-month threshold that defines a seller's market. Inventory is down 30.3% year over year and homes sell in under a month on average. The condo and townhome segment is more balanced, with months supply at 1.6 months and longer average market times. In either segment, buyers benefit from working with an experienced local broker who knows how to compete effectively in this environment.

This report tracks Oak Park's two primary residential property segments separately because they serve different buyer profiles and behave differently in the market. Single-family (detached) homes are standalone houses on their own lots. Condos and townhomes (attached single-family) share walls or common elements with neighboring units. Prices, market times, inventory levels, and demand drivers differ meaningfully between the two segments, so tracking them separately gives a more accurate picture of each market.

This Oak Park real estate market report is updated monthly with the latest data from MRED (Midwest Real Estate Data), the regional MLS. Each update includes a refreshed market summary, updated interactive charts, and a new video commentary from Scott Berg. Charts and tables refresh automatically each week. Data is sourced from InfoSparks by ShowingTime and is deemed reliable but not guaranteed.