Real Estate Market Update for Oak Forest, IL

Video: Real Estate Community Tour for Oak Forest, IL

See Real estate community tour for Oak Forest, IL
Welcome to January's Market Update. Lets take a look at residential real-estate activity in your area during the month of December. The number of active listings was down 7% from one year earlier, and down 24% 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 200-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 38%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 180-thousand dollars. The number of units sold increased 36% year-over-year, and increased 48% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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.
Show Transcript
Map Information for Oak Forest, IL
Area Information for Oak Forest, IL
  • Population: 26,798
  • Median Age: 38.85 yr
  • Median Commute Time: 32 mins
  • Educational Climate*: 3
  • Sales Tax: 10%
  • Population Density: 4,461/sq mi
  • Population Change Since 2000: -3.03%
  • Closest Airport: Chicago Midway International
  • Closest College: Devry University-tinley Park
  • Closest Jr. College: Moraine Valley Community College
  • Median Household Income: $71,809
  • Annual Residential Turnover: 7%
  • Median Home Sales Price: $159,500
  • Closest Major Sports Team: Chicago Fire
  • Change Avg. Household Income Since 2000: 21.21%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Oak Forest, IL
Median Age: 38.85 Married: 43% Number of Households: 9,809 Households with Children: 3,082
    • 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 Forest, IL

      School Name Distance Type Grades School Rating Parent Rating
      Valley Kingdom Christian Academy 0.0 mi Private PRESCHOOL-8 0 0
      Scarlet Oak Elementary School 0.3 mi Public 3-4 3 0
      St. Damian School 0.4 mi Catholic PRESCHOOL-8 0 0
      Oak Forest High School 0.6 mi Public 9-12 3 4
      Lee R Foster Elementary School 0.7 mi Public 1-5 3 0
      Jack Hille Middle School 0.9 mi Public 6-8 3 0
      Braun Educational Center 1.0 mi Public 2-12 0 0
      Project Challenge 1.0 mi Public 10-12 0 0
      Kerkstra Elementary School 1.1 mi Public 1-5 3 0
      Ridge Early Childhood Center 1.1 mi Public PRESCHOOL-K 0 0
      Walter F Fierke Ed Center 1.3 mi Public PRESCHOOL-5 4 0
      Triple R Child Care Inc 1.3 mi Private K-K 0 0
      Morton Gingerwood Elementary School 1.8 mi Public 1-2 0 0
      Fieldcrest Elementary School 1.9 mi Public K-5 2 0
      Arbor Park Middle School 2.0 mi Public 5-8 2 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: Onboard Informatics © 2016. School Performance data by School Review data by
      Local Weather for Oak Forest, IL
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 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.