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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orland Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

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

+$25,162(+8.2%)

Key Takeaway

Homes in Orland Township have sold for 8.2% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $142.5K$150K
+5.3%
2 $234.4K$251.2K
+7.2%
3 $332.7K$358.2K
+7.7%
4 $440K$473.2K
+7.6%
5+ $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
+11.4%
Orland Park
+11.0%
Palos Heights
+10.5%
Orland Township
+8.2%
Orland Hills
0.4%

Housing Supply in Orland Township, IL

How many homes are available in Orland Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
301400+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

# BEDSApr 2024May 2024CHANGE
1 52
-60.0%
2 111149
+34.2%
3 115144
+25.2%
4 4670
+52.2%
5+ 2435
+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 2024May 2024CHANGE
89133+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orland Township, you could pay more than the asking price. 52.6% of homes here sold above asking price last month.

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 2023May 2024CHANGE
14 Days16 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 16 Days Ago

Newest Listings in Orland Township, IL

Nearby Markets to Orland Township, IL

What housing markets are near Orland Township, IL?