Is Olympia Fields, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Olympia Fields has remained a Seller's Market.
Housing Prices in Olympia Fields, IL
How much do homes in Olympia Fields, IL cost?
Median Sold Price
$339,500
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Olympia Fields was $339,500 in May 2024, up 4.7% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $223.9K | $221K | -1.3% |
3 Bedrooms | $270.9K | $273.7K | +1.0% |
4 Bedrooms | $335K | $367.7K | +9.8% |
5+ Bedrooms | $392.4K | $485K | +23.6% |
Summary: Olympia Fields housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 23.6%.
Median Sold Price Compared To Nearby Cities
Chicago Heights | $174.7K | $185K | +5.9% |
Olympia Fields | $324.1K | $339.5K | +4.7% |
Flossmoor | $309.5K | $321.9K | +4.0% |
Park Forest | $140K | $140.7K | 0.5% |
Rich Township | $207.9K | $198K | -4.8% |
Housing Supply in Olympia Fields, IL
How many homes are available in Olympia Fields, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 28 | +7.7% |
Summary: The Olympia Fields real estate market had 28 homes for sale in May 2024, a 7.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 5 | 7 | +40.0% |
4 Bedrooms | 17 | 15 | -11.8% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Olympia Fields housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 8 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Olympia Fields in May 2024, up by 100.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Olympia Fields, IL
How long does it take to sell a home in Olympia Fields, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
35 Days | 20 Days | -42.5% |
Summary: Homes in Olympia Fields had an average of 20 days on market in May 2024, down by 42.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Olympia Fields; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.