Is Orland Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orland Park is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Orland Park has remained a Seller's Market.

Key Takeaway

Orland Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Orland Park, IL cost?

Median Sold Price

$320,400

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$24,609(+8.3%)

Key Takeaway

Homes in Orland Park have sold for 8.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $109.2K$135K
+23.6%
2 $210K$230K
+9.5%
3 $305.6K$345K
+12.9%
4 $410.5K$465K
+13.3%
5+ $520.5K$629K
+20.8%

Median Sold Price Compared To Nearby Cities

Palos Park
+60.0%
Tinley Park
+13.2%
Orland Hills
+13.1%
Orland Township
+10.0%
Orland Park
+8.3%

How many homes are available in Orland Park, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
298362+21.5%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 66
0.0%
2 108124
+14.8%
3 88110
+25.0%
4 5872
+24.1%
5+ 3850
+31.6%

Number of Homes Sold

Jul 2022Aug 2022%
6577+18.5%

Asking Price vs. Sold Price

41 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orland Park, you may be able to get a good deal. 53.2% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
15 Days14 Days-4.1%

Breakdown of Home Sale Times

68 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Orland Park are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Orland Park, IL

Orland Park, IL has 362 homes on the market. In August 2022 in Orland Park, IL there were 21.5% more homes for sale than in July 2022. Listings spent 14 days on the market in August 2022, and had a median list price of $320,400 during the same period. Real estate listing prices changed between July 2022 and August 2022: 1 bedroom properties became 23.6% more expensive, prices of 2 bedrooms properties went up by 9.5%, prices of 3 bedrooms properties increased by 12.9%, prices of 4 bedrooms properties increased by 13.3%, 5 bedrooms properties became 20.8% more expensive. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory increased by 14.8%, number of 3 bedrooms homes increased by 25%, number of 4 bedrooms homes increased by 24.1%, number of 5 bedrooms homes increased by 31.6%. While more than 21 listings in Orland Park, IL in August 2022 were sold above asking price, there were more than 15 listings sold at asking price, and more than 41 were sold below.

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