Real Estate Market Update for Oak Lawn, IL

Video: Real Estate Community Tour for Oak Lawn, IL

See Real estate community tour for Oak Lawn, IL
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was down 16% from one year earlier, and down 4% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 180-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 42%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 160-thousand dollars. The number of units sold decreased 13% year-over-year, and decreased 4% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for Oak Lawn, IL
Area Information for Oak Lawn, IL
  • Population: 56,886
  • Median Age: 40.5 yr
  • Median Commute Time: 28.49 mins
  • Educational Climate*: 4
  • Sales Tax: 8.75%
  • Population Density: 6,619/sq mi
  • Population Change Since 2000: 2.98%
  • Closest Airport: Chicago Midway International
  • Closest College: Saint Xavier University
  • Closest Jr. College: Richard J Daley Collge-city Co Chicago
  • Median Household Income: $60,261
  • Annual Residential Turnover: 11.37%
  • Median Years in Residence: 4.99 yr
  • Median Home Sales Price: $120,000
  • Closest Major Sports Team: Chicago Fire
  • Change Avg. Household Income Since 2000: 26%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Oak Lawn, IL
Median Age: 40.5 Married: 35% Number of Households: 22,741 Households with Children: 6,632
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Oak Lawn, IL

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      St Louis De Montfort School 0.1 mi Catholic PRESCHOOL-8 0 3
      All Star Kids Child Care Center 0.1 mi Private PRESCHOOL-K 0 0
      Edward J Tobin Elem School 0.4 mi Public K-6 3 3
      F B Mccord Elem School 0.5 mi Public PRESCHOOL-6 2-5 0
      Harnew Elem School 0.5 mi Public PRESCHOOL-5 3-5 3
      George W Lieb Elem School 0.7 mi Public K-5 3-5 4
      Simmons Middle School 0.8 mi Public 6-8 2-5 3
      Oak Lawn Comm High School 1.0 mi Public 9-12 2-5 4
      Maddock Elementary School 1.0 mi Public PRESCHOOL-6 1 4
      Ernest F Kolb Elem School 1.1 mi Public K-5 4 3
      Liberty Junior High School 1.1 mi Public 7-8 2 3
      St Gerald School 1.2 mi Catholic PRESCHOOL-8 0 4
      Aqsa School 1.3 mi Private PRESCHOOL-12 0 3
      Harry E Fry Elementary 1.3 mi Public K-6 2-5 0
      Columbus Manor Elem School 1.3 mi Public PRESCHOOL-5 2-5 3
      Universal School 1.3 mi Private PRESCHOOL-12 0 4
      Luther Burbank Elem School 1.4 mi Public K-6 2 3
      Reavis High School 1.5 mi Public 9-12 3 4
      Papoose Childrens Center 1.6 mi Private PRESCHOOL-K 0 0
      J Covington Elem School 1.6 mi Public PRESCHOOL-5 3 4
      Aero Educational Center 1.6 mi Public PRESCHOOL-12 0 5
      Jordan Baptist School 1.7 mi Private K-12 0 0
      St Albert The Great School 1.7 mi Catholic PRESCHOOL-8 0 4
      St Laurence High School 1.8 mi Catholic 9-12 0 5
      J B Kennedy Elem School 1.8 mi Public K-6 3-5 4
      Bridgeview Elem School 1.8 mi Public K-6 2 3
      Dorn Elementary School 1.8 mi Public PRESCHOOL-1 0 4
      Queen Of Peace High School 1.9 mi Catholic 9-12 0 4
      Oak Lawn Hometown Middle School 1.9 mi Public 6-8 3-5 4
      Southwest Chicago Christian School 1.9 mi Private PRESCHOOL-8 0 5
      Richard E Byrd Elementary School 1.9 mi Public K-6 2-5 3
      Gladness V Player Primary Center 2.0 mi Public PRESCHOOL-PRESCHOOL 0 5
      H H Conrady Jr High School 2.2 mi Public 6-8 4-5 3
      Sward Elem School 2.2 mi Public K-5 4-5 5
      St Paul Lutheran School 2.3 mi Private PRESCHOOL-8 0 5
      Robina Lyle Elementary School 2.4 mi Public K-6 2 4
      Penny Lane School Ltd 2.4 mi Private PRESCHOOL-K 0 0
      Joseph Academy 2.4 mi Private 3-12 0 0
      Joseph Academy At Hometown 2.4 mi Private - 0 0
      Geo T Wilkins Jr High School 2.4 mi Public 7-8 1 5
      George T Wilkins Elem School 2.4 mi Public K-6 1 4
      Harold L Richards High School 2.5 mi Public 9-12 2 4
      Hometown Elem School 2.6 mi Public PRESCHOOL-5 3-5 4
      South Side Baptist School 2.6 mi Private PRESCHOOL-12 0 5
      Southside Baptist School 2.6 mi Private PRESCHOOL-12 0 0
      St Linus School 2.6 mi Catholic PRESCHOOL-8 0 4
      St Patricia School 2.7 mi Catholic PRESCHOOL-8 0 4
      P R I D E School 2.8 mi Public K-12 0 2
      St Germaine School 2.8 mi Catholic PRESCHOOL-8 0 5
      Glen Oaks Elem School 3.0 mi Public 2-5 5 2
      J M Hannum Elem School 3.0 mi Public K-5 3 4
      Kolmar Avenue Elem School 3.1 mi Public PRESCHOOL-5 4 5
      Frank A Brodnicki Elem School 3.3 mi Public K-6 2-5 5
      Oak Lawn Montessori School 3.6 mi Private PRESCHOOL-K 0 0
      St Catherine Of Alexandria 3.7 mi Catholic PRESCHOOL-8 0 4
      Lawn Manor School 3.7 mi Public PRESCHOOL-2 0 5
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2015
      Local Weather for Oak Lawn, IL
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.