Is Olympia Fields, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Olympia Fields is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Olympia Fields was a Seller's Market.

Key Takeaway

Olympia Fields is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Olympia Fields, IL

How much do homes in Olympia Fields, IL cost?

Median Sold Price

$351,500

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$31,500(+9.8%)

Key Takeaway

Homes in Olympia Fields have sold for 9.8% more than they did a year ago.

Summary: The median home sold price in Olympia Fields was $351,500 in October 2024, up 9.8% from last year, and the median price per square foot was $126.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $224.4K$200K
-10.9%
3 $280K$271.2K
-3.1%
4 $337K$360K
+6.8%
5+ $432.5K$450K
+4.0%

Summary: Olympia Fields housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.9%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 4%.

Median Sold Price Compared To Nearby Cities

Flossmoor
+14.8%
Olympia Fields
+9.8%
Chicago Heights
+2.8%
Park Forest
+2.1%
Rich Township
+1.8%

Housing Supply in Olympia Fields, IL

How many homes are available in Olympia Fields, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3543+22.9%

Summary: The Olympia Fields real estate market had 43 homes for sale in October 2024, a 22.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 1514
-6.7%
4 1521
+40.0%
5+ 57
+40.0%

Summary: The Olympia Fields housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
67+16.7%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Olympia Fields, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Olympia Fields in October 2024, up by 16.7% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% 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

Oct 2023Oct 2024CHANGE
17 Days106 Days+525.2%

Summary: Homes in Olympia Fields had an average of 106 days on market in Oct 2024, up by 525.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Olympia Fields has remained consistent over time.

Summary: During October 2024, 7 homes were sold in Olympia Fields; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% 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 16 Days Ago

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