FOR IMMEDIATE RELEASE

Oak Park Ranks Among Tightest Housing Markets in Chicago's Western Suburbs as Regional Inventory Splits

Oak Park posts largest year-over-year tightening among six Western suburbs studied; only Oak Park and Wheaton see homes sell above original asking price on average

OAK PARK, IL — Oak Park has emerged as one of the tightest housing markets in Chicago's Western suburbs over the past 12 months, with inventory contracting sharply even as supply built up in several nearby communities, according to a market analysis released today by Berg Properties.

The analysis, drawn from Midwest Real Estate Data (MRED) and covering the 12 months ending April 2026, compared six Western suburban housing markets: Oak Park, Wheaton, Elmhurst, Downers Grove, Naperville, and Hinsdale. The comparison reveals a region moving in two distinct directions rather than as a single market.

Oak Park's months supply of inventory — a standard measure of how long it would take to sell every active listing at the current pace of sales — fell 14.3 percent year over year, from 1.4 months to 1.2 months. That was the largest tightening of any community in the comparison set. Wheaton and Elmhurst also tightened, while Naperville and Hinsdale saw inventory loosen by 7.7 percent and 17.6 percent respectively. Downers Grove held flat.

Active listings in Oak Park dropped 14.8 percent over the same period, even as new listings declined only 2.9 percent — meaning buyer demand absorbed inventory faster than it was replenished.

The combination produced one of the stronger seller-side outcomes in the region. The average Oak Park home sold for 100.2 percent of its original list price over the 12-month period, up from 99.8 percent a year earlier. Only Oak Park and Wheaton averaged above 100 percent across the six communities studied. By comparison, Hinsdale homes averaged 98.2 percent of original list, and Naperville averaged 99.0 percent.

Despite the tightening, Oak Park's median sale price held essentially flat at $430,000 — unchanged from the prior 12-month period and the most affordable median price in the comparison set. Elmhurst's median rose 13.1 percent to $650,000, Wheaton's gained 6.2 percent to $478,000, and Hinsdale's median stood at $1,289,000.

"The data tells a story Oak Park residents already feel: buyers are choosing this community at a higher rate than the surrounding region. We're seeing more competition on listings, faster absorption of new inventory, and homes routinely selling at or above asking — and all of this is happening while Oak Park remains the most affordable suburb in the comparison set. That speaks to what people are valuing in a place to live right now: walkability, transit, schools, and a real sense of community," said Scott Berg, broker and founder of Berg Properties and OakParkExpert.com.

Oak Park's transit access, walkable commercial districts, and historic housing stock have historically drawn buyers cross-shopping the suburbs against the city. The market's performance over the past 12 months suggests that interest has intensified relative to other established Western suburb communities — without the price acceleration seen in some peer markets.

The full comparison, including six-suburb data tables and charts, is available at https://oakparkexpert.com/western-suburbs-market-comparison/.

METHODOLOGY

All figures represent 12-month rolling averages calculated by ShowingTime InfoSparks from Midwest Real Estate Data (MRED) MLS, filtered to single-family detached homes within the municipal boundaries reported by MRED. The current period reflects the twelve months ending April 2026; year-over-year comparisons reference the twelve months ending April 2025. Source: MRED LLC via ShowingTime InfoSparks.

ABOUT BERG PROPERTIES

Berg Properties is an independent real estate brokerage serving Oak Park and Chicago's Western suburbs, founded by Scott Berg. Through its hyperlocal website OakParkExpert.com, the firm publishes original market analysis, neighborhood guides, and property data resources for buyers and sellers across the region. Learn more at https://oakparkexpert.com.

MEDIA CONTACT

Scott Berg Berg Properties / OakParkExpert.com Phone: 773-960-2462 Email: sberg@bergproperties.com Web: https://oakparkexpert.com