Oak Park, MI Home Values & Market Trends
Real estate market trends reflect that there have been 479 transactions over the past year in Oak Park. The median value for residential home transactions that occurred over the previous year is $227,099.72. The number of current listings in Oak Park is 34, and the percentage of properties for sale in the city is 34.00%. Oak Park, MI currently has 14 properties in foreclosure, 2 bank owned properties, 12 properties headed for auction, and 34 properties for sale.
Oak Park, MI Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 48237 | $ 223,642 $ 158/sqft |
Housing Market Summary for Oak Park, MI
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $200K | $203.9K | 1.97% |
| Median Sold Price | $205K | $203.9K | -0.51% |
| Homes For Sale | 35 | 38 | 8.57% |
| Homes Sold | 306 | 301 | -1.63% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Oak Park, MI
Browse Homes in Oak Park, MI
Oak Park home values range from $21,766 to $1,057,752. The median estimated value of a home in Oak Park is $227,099.72. The median list price of a home is 229,900, and the total count of properties in the city is 9,792.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Oak Park, MI with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Oak Park, MI; of that zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Oak Park, MI ranges from the highest value of $245,116 in 48237 to the lowest value of $211,814 in 48237. Bank owned homes and properties account for 0.02% of properties in Oak Park, MI. There is 1 zips within Oak Park, MI; 48237 containing 2 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions48237 has 12 auction properties, the highest number of properties going to auction in a single zip in the state of Oak Park, MI. Auction homes and other auction properties account for 0.12% of all properties in Oak Park, MI. There is 1 zips within Oak Park, MI; of that zips, the median estimated home value for homes going to auction ranges from $304,154 in 48237 to the lowest value of $137,870 in 48237.
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More Real Estate Resources for Oak Park, MI
Guide for Oak Park, MI
Explore the nuances of Michigan’s 2023 real estate market, where rising property values meet shifting sold prices and distressed properties offer investment opportunities amidst a stable yet competitive landscape.
The 2023 Detroit real estate market trend showed steady average listing values and an increase in property sales, with neighboring cities displaying more fluctuation but higher property values. This reflects the city’s resilience amidst an unpredictable industry landscape.
Why Buying a Foreclosure is a Smart Move
Information on foreclosure financing, refinancing, and foreclosure mortgages.