Published October 4, 2026 in Market Update

Oak Park stayed tight even as more listings showed up nationally

By Thurston Gayle

Real estate, Oak Park

Realtor.com reported that active listings nationwide grew 5.5%, topping 1.16 million homes for sale. Oak Park moved the other way. The Real Estate Data Aggregator counted 101 homes for sale in ZIP 60302 in the three months ending July 31, 2026, down 9% from the same months of 2025. Sellers here face less competition from other listings than the national headlines suggest.

The Real Estate Data Aggregator measured 1.9 months of supply in ZIP 60302, down 0.3 months from a year before. A market with two months of supply or less gives buyers very little room to wait. That is where Oak Park sat this summer.

Prices and competition

The Real Estate Data Aggregator put the median sale price in ZIP 60302 at $500,000 for the three months ending July 31, 2026. That is up 20.3% from the same three months of 2025. The Federal Housing Finance Agency reported U.S. house prices rose just 2.6% over the same span. Oak Park's price gain ran well ahead of the national number.

Buyers are still competing

The Real Estate Data Aggregator found that 57% of homes in ZIP 60302 sold above list price, up 9.9 points from a year before. The average sale came in at 103.9% of list price, up 2.2 points year over year. That means the typical home sold for nearly 4% more than its asking price. Nationally, Realtor.com reported that 20.8% of listings took a price cut in September, the highest share since October 2022. Oak Park did not follow that pattern.

Mortgage rates add pressure for buyers. CNBC reported the average contract rate on a 30-year fixed mortgage with a conforming loan balance reached 7.30%. Mortgage News Daily, also cited by CNBC, put the rate at 7.58% on one day in late September. Realtor.com noted rates climbed above 7% for the first time since January 2025. Higher rates shrink what buyers can afford, but in Oak Park the supply shortage has kept prices moving up anyway.

New listings fell, and contracts reflect that

The Real Estate Data Aggregator counted 170 new listings in ZIP 60302, down 6.1% from the same three months of 2025. Pending sales fell 14.5% to 153. That drop in pending sales is worth watching. It may reflect fewer buyers who can stretch to current prices and rates, not a softening of demand. The share of homes going under contract within two weeks was still 60.1%, meaning nearly 3 in 5 homes found a buyer fast.

A note on ZIP 60303

ZIP 60303 covers a small slice of Oak Park. The Real Estate Data Aggregator recorded just 1 home sold, 1 new listing and 1 pending sale there in the three months ending July 31, 2026. One sale cannot tell a price story, so treat those numbers as a footnote, not a trend.

What this means for owners and buyers

For owners: fewer competing listings and a 20.3% price gain year over year is a strong position. Cook County is scheduled to reassess both townships in 2026, so verify your current tax bill with current data before making decisions based on net proceeds.

For buyers: 1.9 months of supply leaves little cushion. Homes are still going fast. The 41-day median includes homes that took longer, so one street can read very differently from the ZIP code as a whole.