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Oak Park home prices rise in February 2017

Real Estate

By West Cook News | Mar 7, 2017

Realestate5

The median sale price of a home sold in February 2017 in Oak Park rose by $20,500 while total sales decreased by 18.2%, according to BlockShopper.com.

In February 2017, there were 45 homes sold, with a median sale price of $290,000 - a 7.6% increase over the $269,500 median sale price for the same period of the previous year. There were 55 homes sold in Oak Park in February 2016.

The median sales tax in Oak Park for 2017 was $10,492. In 2016, the median sales tax was $10,155. This marks an increase of 3.3%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 3.6%.

The following table compares Oak Park to other Cook County cities with similar median sales prices in February 2017:

City
Feb. 2017 Home Sales
Feb. 2016 Home Sales
% change (Total Home Sales)
Feb. 2017 Median Sales Price
Feb. 2016 Median Sales Price
% change (Median Sales Price)
Barrington
6
6
0%
$360,000
$295,000
22%
Park Ridge
31
38
-18.4%
$326,000
$297,500
9.6%
La Grange Highlands
5
2
150%
$320,000
$405,000
-21%
Indian Head Park
4
4
0%
$303,000
$258,750
17.1%
Riverside
10
7
42.9%
$291,250
$235,000
23.9%
Oak Park
45
55
-18.2%
$290,000
$269,500
7.6%
Skokie
49
71
-31%
$288,000
$295,000
-2.4%
Morton Grove
21
20
5%
$280,000
$222,000
26.1%
Burr Ridge
5
3
66.7%
$272,000
$359,000
-24.2%
Westchester
13
16
-18.8%
$270,000
$165,000
63.6%
Arlington Heights
75
66
13.6%
$265,000
$232,500
14%

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