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Featured local agent — Oak Lawn, IL
Sarah Mitchell
Compass Real Estate · Oak Lawn, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Oak Lawn, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$318,200median sale price
How is the Oak Lawn, IL housing market right now?
The median home sale price in Oak Lawn, IL is $318,200, up 6.1% year-over-year. Homes sell in an average of 56 days with 204 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Oak Lawn a buyer's or seller's market?
Oak Lawn, IL is currently a balanced market, based on 3.9 months of supply and homes selling in about 56 days. How we determine this →
Homes sold
52
Last 12 weeks
Days on market
56
Average pace
Active listings
204
3.9 months supply
Sale-to-list
99.3%
Below asking
What does the Oak Lawn housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $318,200 |
| Median list price | $324,000 |
| Year-over-year price change | +6.1% |
| Average days on market | 56 days |
| Active inventory | 204 listings |
| Months of supply | 3.9 months |
| Sale-to-list price ratio | 99.3% |
| Median price per sq ft | $214/sq ft |
| Homes sold (latest month) | 52 |
| New listings (latest month) | 113 |
| Listings with a price cut | 17.6% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Oak Lawn by property type?
How the Oak Lawn, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $354,500 | $239/sq ft | 34 | 56 days |
| Condo / Co-op | $172,250 | $160/sq ft | 16 | 54 days |
| Townhouse | $240,000 | $240/sq ft | 1 | 125 days |
Source: Redfin · Updated monthly
The Oak Lawn housing market is currently classified as a balanced market with a median sale price of $318,200. Prices have risen 6.1% compared to last year, with homes spending an average of 56 days on market, indicating 3.9 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.7x provides context for how home values compare to local earning capacity.
Homes for sale in Oak Lawn
There are currently 204 homes listed for sale in Oak Lawn, Illinois. The median listing price is $324K.
Active listings
204
Homes on market
Median list price
$324K
Avg. days on market
56
Days until sale
New this week
113
Newly listed
Who lives in Oak Lawn?
Population
57,098
Median income
$82,493/yr
Median age
40.3 years
Owner-occupied
82.5%
College grads
30.2%
Avg commute
31.1 min
Source: U.S. Census Bureau ACS
What are homes worth in Oak Lawn?
Zillow home value
$301,889
Zillow rent index
$1,848/mo
Price-to-rent ratio
13.6x
Price-to-income
3.7x
Source: Zillow Research
What is it like to live in Oak Lawn?
Oak Lawn is a community of approximately 57K residents with a median age of 40.3 years.The median household income is $82,493, which reflects a relatively affluent area with strong earning potential. 30.2% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 82.5%, reflecting strong community stability and long-term resident commitment. The average commute time is 31.1 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Oak Lawn offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Oak Lawn?
12 schools tracked · 8,698 students
The largest public schools serving Oak Lawn, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Oak Lawn Comm High School
Grades 9-12 · 1,862 students
H L Richards High Sch(Campus)
Grades 9-12 · 1,695 students
Oak Lawn-Hometown Middle Sch
Grades 6-8 · 1,087 students
Simmons Middle School
Grades 6-8 · 733 students
Harnew Elem School
Grades PK-5 · 520 students
Sward Elem School
Grades PK-5 · 517 students
J Covington Elem School
Grades PK-5 · 505 students
J M Hannum Elem School
Grades K-5 · 423 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Oak Lawn, IL?
Want a head-to-head view? Compare Oak Lawn side-by-side with any other U.S. city using our market-comparison tool.
Is Oak Lawn a good real estate investment market?
For investors evaluating Oak Lawn, the price-to-rent ratio of 13.6x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 6.1% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Oak Lawn's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Oak Lawn's median home price.
Frequently asked questions
What is the average home price in Oak Lawn?
The median home sale price in Oak Lawn is $318,200, up 6.1% from last year.
How long do homes stay on market in Oak Lawn?
Homes typically spend 56 days on market before going under contract.
What is the median income in Oak Lawn?
The median household income is $82,493 per year.
Is Oak Lawn a buyer's or seller's market?
With 3.9 months of supply, Oak Lawn is currently a balanced market.
What is the Zillow home value estimate for Oak Lawn?
The Zillow Home Value Index (ZHVI) for Oak Lawn is $301,889, representing the typical home value in the area.
What is the median condo price in Oak Lawn?
The median condo/co-op sale price in Oak Lawn, IL is $172,250, compared to $354,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Oak Lawn?
The median single-family home price in Oak Lawn, IL is $354,500 (about $239 per square foot).
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