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Short Sale Listings in Park Forest, IL

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Living in Park Forest, IL

Park Forest, IL is a charming suburban community located just south of Chicago, known for its spacious parks and family-friendly atmosphere. Residents enjoy access to quality education, diverse amenities, and excellent community services, making it an attractive place to live. With a rich history and a strong sense of community, Park Forest continues to be a desirable destination for homebuyers.

Current Market Conditions in Park Forest, IL

The Park Forest real estate market is currently characterized by a steady increase in demand, with a variety of housing options available. The market is healthy, with homes receiving multiple offers and an increase in property values due to limited inventory. Trends show that buyers are looking for family-oriented neighborhoods with amenities and good schools, which supports the area's appeal.

Vacant land is also seeing interest as developers recognize the potential for growth in Park Forest. The community is actively promoting new housing developments, particularly for affordable housing, making it an attractive region for investment.

Home Value Estimator For Park Forest, IL

There are currently 6,479 real estate properties in Park Forest, IL, with a median automated valuation model (AVM) price of $166,684.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Park Forest, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Park Forest, IL, is $178,456.00, with the most expensive house in Park Forest, IL, topping out at $35,421,152.00 and the cheapest home in Park Forest, IL, clocking in at $18,766.00. In other words, there’s something for every potential homebuyer or savvy investor in Park Forest, IL!

Rent Prices In Park Forest, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Park Forest, IL, is on a rollercoaster ride. The average rent price in Park Forest, IL, is $1,280.00. Indeed, when looking to rent in Park Forest, IL, you can expect to pay as little as $630.00 or as much as $5,420.00, with the average rent median estimated to be $1,290.00. The good news is that finding an affordable and desirable property to rent in Park Forest, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Park Forest, IL Short Sale Listings

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