Is Tinley Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
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
How much do homes in Tinley Park, IL cost?
Median Sold Price
$270,208
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Tinley Park have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Tinley Park was $270,208 in August 2023, up 2.3% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $103.2K | $117K | +13.3% |
| 2 Bedrooms | $214.9K | $221.1K | +2.9% |
| 3 Bedrooms | $292K | $309.9K | +6.1% |
| 4 Bedrooms | $393K | $415K | +5.6% |
| 5+ Bedrooms | $480K | $475K | -1.0% |
Summary: Tinley Park housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Cities
| Orland Park | $320K | $328.1K | +2.5% |
| Orland Township | $306.3K | $313.8K | +2.4% |
| Tinley Park | $264.1K | $270.2K | +2.3% |
| Oak Forest | $251.9K | $254K | +0.8% |
| Orland Hills | $280K | $267.5K | -4.5% |
Housing Supply
How many homes are available in Tinley Park, IL?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 219 | 205 | -6.4% |
Summary: The Tinley Park real estate market had 205 homes for sale in August 2023, a 6.4% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 82 | 68 | -17.1% |
| 3 Bedrooms | 85 | 87 | +2.4% |
| 4 Bedrooms | 34 | 33 | -2.9% |
| 5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The Tinley Park housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 17.1%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 82 | 78 | -4.9% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tinley Park, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 78 homes were sold or pending in Tinley Park in August 2023, down by 4.9% month-over-month. Of the 78 sold homes, 37% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market
How long does it take to sell a home in Tinley Park, IL?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 15 Days | 17 Days | +14.1% |
Summary: Homes in Tinley Park had an average of 17 days on market in Aug 2023, up by 14.1% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tinley Park are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 78 homes were sold in Tinley Park; 90% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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