Oak Park and River Forest, IL Housing Market Report – March 2025
As of March 2025, the housing markets in Oak Park and River Forest, Illinois, exhibit dynamic trends characterized by varying price changes, market competitiveness, and inventory levels. Below is an updated overview based on the latest available data:
Oak Park:
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Median Home Prices: In January 2025, Oak Park homes sold for a median price of $368,000, reflecting a 19.3% year-over-year increase compared to January 2024.
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Market Activity: Homes in Oak Park typically remained on the market for an average of 69 days in January 2025, slightly up from 64 days in January 2024.
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Market Competitiveness: The Oak Park housing market is considered somewhat competitive, scoring 51 out of 100.
River Forest:
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Median Home Prices: In January 2025, River Forest homes sold for a median price of $750,000, a 40.7% decrease compared to January 2024.
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Market Activity: Homes in River Forest typically remained on the market for an average of 119 days in January 2025, slightly up from 114 days in January 2024.
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Market Competitiveness: The River Forest housing market is considered less competitive, scoring 41 out of 100.
Additional Insights:
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Oak Park Home Values: As of February 28, 2025, the average home value in Oak Park is approximately $418,725, marking a 5.3% year-over-year increase.
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Affordable Housing Initiatives: In January 2025, the Oak Park Village Board allocated over $1.9 million from the housing trust fund to support affordable housing developments, reflecting a commitment to addressing housing affordability in the area.
Outlook:
The Oak Park and River Forest housing markets present contrasting trends. Oak Park experiences significant price growth and a moderately competitive market, while River Forest faces declining prices and reduced competitiveness. Prospective buyers and sellers should carefully assess these dynamics and consult with local real estate professionals to navigate the current market effectively.
For personalized insights or assistance with buying or selling in Oak Park and River Forest, contact Frank "Campo" Campobasso at Century 21 Circle.
Frank "Campo" Campobasso
Century 21 Circle
Phone: 773-425-6265
