Is Orland Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Orland Park has remained a Seller's Market.
Housing Prices in Orland Park, IL
How much do homes in Orland Park, IL cost?
Median Sold Price
$349,925
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Orland Park was $349,925 in April 2024, up 9.4% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $149K | +6.4% |
2 Bedrooms | $240K | $255.5K | +6.5% |
3 Bedrooms | $345K | $371.3K | +7.6% |
4 Bedrooms | $464.5K | $499.9K | +7.6% |
5+ Bedrooms | $605K | $675K | +11.6% |
Summary: Orland Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Cities
Tinley Park | $262.6K | $292.8K | +11.5% |
Orland Park | $320K | $349.9K | +9.4% |
Orland Township | $305.4K | $330K | +8.1% |
Orland Hills | $280K | $290K | +3.6% |
Palos Park | $460K | $423.7K | -7.9% |
Housing Supply in Orland Park, IL
How many homes are available in Orland Park, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
206 | 233 | +13.1% |
Summary: The Orland Park real estate market had 233 homes for sale in April 2024, a 13.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 79 | 83 | +5.1% |
3 Bedrooms | 69 | 79 | +14.5% |
4 Bedrooms | 35 | 43 | +22.9% |
5+ Bedrooms | 19 | 23 | +21.1% |
Summary: The Orland Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 21.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
75 | 61 | -18.7% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Orland Park in April 2024, down by 18.7% month-over-month. Of the 61 sold homes, 48% were sold under asking, 11% were sold at asking, and 41% were sold over asking.
Days on Market for Orland Park, IL
How long does it take to sell a home in Orland Park, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 21 Days | +3.3% |
Summary: Homes in Orland Park had an average of 21 days on market in Apr 2024, up by 3.3% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 61 homes were sold in Orland Park; 87% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.