Real Estate Market Update for Park Forest, IL

Video: Real Estate Community Tour for Park Forest, IL

See Real estate community tour for Park Forest, IL
Welcome to December's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of December. The number of active listings was down 35% from one year earlier, and down 26% 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 50-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 21%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 40-thousand dollars. The number of units sold decreased 14% year-over-year, and decreased 17% 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 Park Forest, IL
Area Information for Park Forest, IL
  • Population: 22,088
  • Median Age: 37.08 yr
  • Median Commute Time: 23.98 mins
  • Educational Climate*: 3
  • Sales Tax: 8%
  • Population Density: 4,451/sq mi
  • Population Change Since 2000: -4.7%
  • Closest Airport: Chicago Midway International
  • Closest College: Governors State University
  • Closest Jr. College: Prairie State College
  • Median Household Income: $49,427
  • Annual Residential Turnover: 12.48%
  • Median Years in Residence: 4.88 yr
  • Median Home Sales Price: $43,500
  • Closest Major Sports Team: Chicago Fire
  • Change Avg. Household Income Since 2000: 4%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Park Forest, IL
Median Age: 37.08 Married: 26% Number of Households: 9,009 Households with Children: 2,993
    • 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 Park Forest, IL

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Deer Creek Christian School 0.2 mi Private PRESCHOOL-8 0 4
      Cedi 1.0 mi Private PRESCHOOL-8 0 0
      Coretta Scott King Magnet School 1.0 mi Public K-6 4 3
      St Mary 1.0 mi Catholic PRESCHOOL-8 0 0
      Talala Elementary School 1.3 mi Public K-5 1 4
      Blackhawk Intermediate Center 1.5 mi Public 1-6 2-5 3
      Crete-monee Middle School 1.6 mi Public 7-8 1 3
      21st Century Preparatory Center 2.0 mi Public PRESCHOOL-3 3 4
      Mohawk Intermediate School 2.0 mi Public 3-5 2 4
      South Suburban Sda Christian School 2.1 mi Private PRESCHOOL-8 0 0
      Rich East Campus High School 2.2 mi Public 9-12 1 3
      Forest Trail Middle School 2.6 mi Public 7-8 1 2
      Algonquin Primary Center 3.3 mi Public PRESCHOOL-2 0 3
      Indiana Elementary School 3.6 mi Public 4-6 2-5 3
      Illinois Montessori Children's House 3.7 mi Private PRESCHOOL-K 0 0
      Illinois School 3.7 mi Public K-8 2-5 4
      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: and Onboard Informatics © 2015
      Local Weather for Park Forest, 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.