Is Orland Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Orland Park has remained a Seller's Market.
Housing Prices in Orland Park, IL
How much do homes in Orland Park, IL cost?
Median Sold Price
$350,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Orland Park was $350,000 in March 2024, up 9.4% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $139K | $148K | +6.5% |
2 Bedrooms | $240K | $259K | +7.9% |
3 Bedrooms | $345K | $372K | +7.8% |
4 Bedrooms | $474K | $490K | +3.4% |
5+ Bedrooms | $605K | $687.5K | +13.6% |
Summary: Orland Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 13.6%.
Median Sold Price Compared To Nearby Cities
Tinley Park | $262.4K | $290.1K | +10.6% |
Orland Park | $319.8K | $350K | +9.4% |
Orland Township | $306.1K | $330K | +7.8% |
Orland Hills | $280K | $290K | +3.6% |
Palos Park | $525K | $421.2K | -19.8% |
Housing Supply in Orland Park, IL
How many homes are available in Orland Park, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
194 | 218 | +12.4% |
Summary: The Orland Park real estate market had 218 homes for sale in March 2024, a 12.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 75 | 82 | +9.3% |
3 Bedrooms | 71 | 74 | +4.2% |
4 Bedrooms | 34 | 38 | +11.8% |
5+ Bedrooms | 12 | 20 | +66.7% |
Summary: The Orland Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
55 | 70 | +27.3% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 70 homes were sold or pending in Orland Park in March 2024, up by 27.3% month-over-month. Of the 70 sold homes, 44% were sold under asking, 24% were sold at asking, and 31% were sold over asking.
Days on Market for Orland Park, IL
How long does it take to sell a home in Orland Park, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
25 Days | 25 Days | -1.2% |
Summary: Homes in Orland Park had an average of 25 days on market in Mar 2024, down by 1.2% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 70 homes were sold in Orland Park; 76% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.