Published October 18, 2026 in Market Update

Oak Park buyers still paid over list, but not every home moved fast

By Thurston Gayle

Real estate, Oak Park

Nationally, Realtor.com reported that price cuts hit 20.8% of listings in September 2026, the highest share since October 2022. Oak Park did not follow that pattern. The Real Estate Data Aggregator counted 149 homes sold across Oak Park in the three months ending August 31, 2026, and 53.4% of them closed above list price. That gap between the national picture and the local one is worth understanding before you price or make an offer.

The Real Estate Data Aggregator put the average sale-to-list ratio in ZIP 60302 at 103.6%, up 1.8 points from the same period in 2025. Sellers in that ZIP were still getting more than they asked. That said, 46.6% of homes did not sell above list. Not every home in Oak Park drew a bidding war.

The median sale price in ZIP 60302 rose to $525,000, up 15.7% from the same three months in 2025, according to the Real Estate Data Aggregator. That is a meaningful jump. At the same time, the Real Estate Data Aggregator counted 43 median days on market. That is not a fast close for every home. Some homes moved quickly; others sat.

How quickly did homes go under contract?

The Real Estate Data Aggregator found that 56.6% of homes in ZIP 60302 went under contract within two weeks of listing. That share fell 8.9 points from a year earlier. So more homes are taking longer than they used to. If your home is priced at the edge of what the market supports, that extra time shows up fast.

What the national rate picture adds

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. CNBC reported that Fannie Mae forecast the 30-year fixed rate at 7.4% for the fourth quarter of 2026 and 7.5% through 2027. Higher rates slow buyers down everywhere. CNBC also reported that pending home sales were down 8.5% year-over-year nationally in September, according to Zillow. The Real Estate Data Aggregator found pending sales in ZIP 60302 down 21.8% from a year earlier. Fewer buyers are moving forward right now.

A note on ZIP 60303

ZIP 60303 covers a small part of Oak Park. The Real Estate Data Aggregator counted only 1 home sold there in the three months ending August 31, 2026. One sale does not make a trend. The Real Estate Data Aggregator put months of supply in 60303 at 3.1 months and the sale-to-list ratio at 96.7%. Those numbers come from a single transaction, so read them carefully.

What this means for sellers and buyers

Sellers: The Real Estate Data Aggregator data shows Oak Park is not following the national price-cut trend. More than half of homes still closed above list. But fewer homes sold than a year ago, and pending sales dropped. Pricing accurately matters more now, not less.

Buyers: You are not locked out. The Federal Housing Finance Agency reported U.S. house prices rose just 0.3% month-over-month in July 2026, seasonally adjusted. Nationally, inventory topped 1.16 million homes, according to Realtor.com. In Oak Park, 89 homes were for sale across both ZIPs in the period. Competition is real but not absolute.