Is Orland Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Orland Township has remained a Seller's Market.
Housing Prices in Orland Township, IL
How much do homes in Orland Township, IL cost?
Median Sold Price
$330,262
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Orland Township was $330,262 in May 2024, up 8.2% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $142.5K | $150K | +5.3% |
2 Bedrooms | $234.4K | $251.2K | +7.2% |
3 Bedrooms | $332.7K | $358.2K | +7.7% |
4 Bedrooms | $440K | $473.2K | +7.6% |
5+ Bedrooms | $550K | $605K | +10.0% |
Summary: Orland Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
Tinley Park | $264.7K | $295K | +11.4% |
Orland Park | $315.2K | $349.9K | +11.0% |
Palos Heights | $334.9K | $369.9K | +10.5% |
Orland Township | $305.1K | $330.2K | +8.2% |
Orland Hills | $280K | $281K | 0.4% |
Housing Supply in Orland Township, IL
How many homes are available in Orland Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
301 | 400 | +32.9% |
Summary: The Orland Township real estate market had 400 homes for sale in May 2024, a 32.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 2 | -60.0% |
2 Bedrooms | 111 | 149 | +34.2% |
3 Bedrooms | 115 | 144 | +25.2% |
4 Bedrooms | 46 | 70 | +52.2% |
5+ Bedrooms | 24 | 35 | +45.8% |
Summary: The Orland Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 60%, 2 bedroom homes increased by 34.2%, 3 bedroom homes increased by 25.2%, 4 bedroom homes increased by 52.2%, and 5+ bedroom homes increased by 45.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
89 | 133 | +49.4% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
70 Homes Were Sold
Over Asking
Summary: A total of 133 homes were sold or pending in Orland Township in May 2024, up by 49.4% month-over-month. Of the 133 sold homes, 29% were sold under asking, 19% were sold at asking, and 53% were sold over asking.
Days on Market for Orland Township, IL
How long does it take to sell a home in Orland Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 16 Days | +17.2% |
Summary: Homes in Orland Township had an average of 16 days on market in May 2024, up by 17.2% compared to last year.
Breakdown of Home Sale Times
118 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 133 homes were sold in Orland Township; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.