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 August 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

$294,642

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$24,476(+9.1%)

Key Takeaway

Homes in Tinley Park have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Tinley Park was $294,642 in August 2024, up 9.1% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $117K$135K
+15.4%
2 $221.1K$230.6K
+4.3%
3 $309.2K$335.6K
+8.5%
4 $415K$442.5K
+6.6%
5+ $475K$520K
+9.5%

Summary: Tinley Park housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 9.5%.

Median Sold Price Compared To Nearby Cities

Orland Hills
+13.5%
Tinley Park
+9.1%
Oak Forest
+8.7%
Orland Township
+8.2%
Orland Park
+8.2%

Housing Supply in Tinley Park, IL

How many homes are available in Tinley Park, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
199234+17.6%

Summary: The Tinley Park real estate market had 234 homes for sale in August 2024, a 17.6% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 12
+100.0%
2 8282
0.0%
3 7190
+26.8%
4 2842
+50.0%
5+ 1718
+5.9%

Summary: The Tinley Park housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 26.8%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 5.9%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
6462-3.1%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

24 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. 43.5% of homes here sold below asking price last month.

Summary: A total of 62 homes were sold or pending in Tinley Park in August 2024, down by 3.1% month-over-month. Of the 62 sold homes, 44% were sold under asking, 18% were sold at asking, and 39% 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

Aug 2023Aug 2024CHANGE
17 Days19 Days+14.2%

Summary: Homes in Tinley Park had an average of 19 days on market in Aug 2024, up by 14.2% compared to last year.

Breakdown of Home Sale Times

49 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

0 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 August 2024, 62 homes were sold in Tinley Park; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% 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 15 Days Ago

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