I showed 20 houses in Oak Park during the past 2 days to some out-of-state buyers. They asked about what’s happening in the Oak Park housing market and the answer is, “It depends on whether the houses are north or south of Madison Street which divides the 60302 and 60304 zip codes.”
Median house prices for the 3rd quarter of this year (July – September) in 60304 (south part of Oak Park) fell 4.2% from the same period a year ago*. However, in the rest of Oak Park they rose 3.9%!
The north part of Oak Park is primarily the 60302 zip code, but also includes 60301 for Oak Park’s downtown. The median sale price for houses in these zip codes in the past quarter rose to $560,000 while it fell to $421,750 in 60304.
*Based on Multiple Listing System of Northern Illinois (MLSNI) Data
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