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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tinley Park is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Tinley Park, IL

How much do homes in Tinley Park, IL cost?

Median Sold Price

$290,158

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$27,705(+10.6%)

Key Takeaway

Homes in Tinley Park have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Tinley Park was $290,158 in March 2024, up 10.6% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $107K$170K
+58.9%
2 $220K$232.6K
+5.8%
3 $300K$325K
+8.3%
4 $415K$421K
+1.4%
5+ $487.5K$512.9K
+5.2%

Summary: Tinley Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 58.9%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 5.2%.

Median Sold Price Compared To Nearby Cities

Tinley Park
+10.6%
Orland Park
+9.4%
Orland Township
+7.8%
Orland Hills
+3.6%
Oak Forest
-0.8%

Housing Supply in Tinley Park, IL

How many homes are available in Tinley Park, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
161188+16.8%

Summary: The Tinley Park real estate market had 188 homes for sale in March 2024, a 16.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 01
+100.0%
2 6975
+8.7%
3 5969
+16.9%
4 2731
+14.8%
5+ 612
+100.0%

Summary: The Tinley 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 8.7%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4271+69.0%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tinley Park, you may be able to get a good deal. 42.3% of homes here sold below asking price last month.

Summary: A total of 71 homes were sold or pending in Tinley Park in March 2024, up by 69.0% month-over-month. Of the 71 sold homes, 42% were sold under asking, 23% were sold at asking, and 35% were sold over asking.

Days on Market for Tinley Park, IL

How long does it take to sell a home in Tinley Park, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
28 Days26 Days-7.5%

Summary: Homes in Tinley Park had an average of 26 days on market in Mar 2024, down by 7.5% compared to last year.

Breakdown of Home Sale Times

51 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 71 homes were sold in Tinley Park; 72% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 6% 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 24 Days Ago

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