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 June 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

$335,547

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$27,769(+9.0%)

Key Takeaway

Homes in Orland Township have sold for 9% more than they did a year ago.

Summary: The median home sold price in Orland Township was $335,547 in June 2024, up 9% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $145K$156.5K
+7.9%
2 $237K$250K
+5.5%
3 $334.8K$360K
+7.5%
4 $450K$461.5K
+2.6%
5+ $552.5K$610K
+10.4%

Summary: Orland Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.9%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 10.4%.

Median Sold Price Compared To Nearby Cities

Tinley Park
+10.3%
Orland Park
+9.4%
Orland Township
+9.0%
Palos Heights
+8.4%
Orland Hills
+5.4%

Housing Supply in Orland Township, IL

How many homes are available in Orland Township, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
382425+11.3%

Summary: The Orland Township real estate market had 425 homes for sale in June 2024, a 11.3% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 21
-50.0%
2 144146
+1.4%
3 141160
+13.5%
4 6781
+20.9%
5+ 2837
+32.1%

Summary: The Orland Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 20.9%, and 5+ bedroom homes increased by 32.1%.

Number of Homes Sold

May 2024Jun 2024CHANGE
139134-3.6%

Asking Price vs. Sold Price

47 Homes Were Sold
Under Asking

17 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. 52.2% of homes here sold above asking price last month.

Summary: A total of 134 homes were sold or pending in Orland Township in June 2024, down by 3.6% month-over-month. Of the 134 sold homes, 35% were sold under asking, 13% were sold at asking, and 52% 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

Jun 2023Jun 2024CHANGE
17 Days13 Days-24.1%

Summary: Homes in Orland Township had an average of 13 days on market in Jun 2024, down by 24.1% compared to last year.

Breakdown of Home Sale Times

118 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 June 2024, 134 homes were sold in Orland Township; 88% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 1% 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 26 Days Ago

Newest Listings in Orland Township, IL

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