This Week’s Market Overview
The median list price for Oak Park, CA is $1,370,000, with the Market Action Index (MAI) at 52, indicating a strong seller’s market. Inventory remains steady at 26 homes, with demand continuing to outweigh supply.
Market Action Index
The Market Action Index measures market temperature by analyzing the balance of supply and demand:
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Current MAI: 52 (Strong Seller’s Market)
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Last Month’s MAI: 55
Although the MAI has dipped slightly, Oak Park remains a strong seller’s market. Low inventory is keeping sellers in a favorable position, though a continued decline could signal a shift ahead.
Market Narrative
The Oak Park housing market has cooled slightly, but demand continues to outpace supply. Home prices have flattened in recent weeks, yet sellers still maintain control. If the MAI drops further or inventory rises, price softening may follow.
For now, sellers can still benefit from limited competition, while buyers face a competitive environment with few opportunities.
Real-Time Market Profile
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Median List Price: $1,370,000
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Median Price of New Listings: $1,424,500
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Price per Square Foot: $648
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Average Days on Market: 40
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Median Days on Market: 28
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Price Decreased: 23% of listings
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Price Increased: 0% of listings
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Relisted Properties: 8%
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Inventory: 26 properties
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Median Rent: $4,225/month
Market Segments
Oak Park listings are divided into four pricing segments, each representing approximately 25% of the market:
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,179,000 | 3,457 | 0.25 - 0.5 acre | 4 | 3.5 | 38 | 1 | 3 | 28 |
| $1,549,000 | 2,150 | 8,000 - 10,000 sqft | 4 | 3 | 50 | 1 | 1 | 28 |
| $1,299,999 | 2,213 | 4,500 - 6,500 sqft | 4 | 2.5 | 35 | 1 | 0 | 35 |
| $1,099,000 | 1,661 | 6,500 - 8,000 sqft | 3 | 2.8 | 40 | 1 | 2 | 28 |
Conclusion
Oak Park continues to favor sellers, but a declining MAI could signal changes ahead. With inventory steady and pricing flat, it's important for both buyers and sellers to stay informed and act strategically.
