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 buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Olympia Fields has remained a Buyer's Market.

Key Takeaway

Olympia Fields is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Olympia Fields, IL

How much do homes in Olympia Fields, IL cost?

Median Sold Price

$349,000

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$24,330(+7.5%)

Key Takeaway

Homes in Olympia Fields have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Olympia Fields was $349,000 in November 2024, up 7.5% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $225K$200K
-11.1%
3 $287.5K$275.5K
-4.2%
4 $342.5K$360K
+5.1%
5+ $432.5K$450K
+4.0%

Summary: Olympia Fields housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 4%.

Median Sold Price Compared To Nearby Cities

Flossmoor
+11.7%
Olympia Fields
+7.5%
Rich Township
+3.4%
Park Forest
+1.8%
Chicago Heights
+0.7%

Housing Supply in Olympia Fields, IL

How many homes are available in Olympia Fields, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3742+13.5%

Summary: The Olympia Fields real estate market had 42 homes for sale in November 2024, a 13.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1212
0.0%
4 2119
-9.5%
5+ 310
+233.3%

Summary: The Olympia Fields housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 233.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
73-57.1%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Olympia Fields in November 2024, down by 57.1% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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

Nov 2023Nov 2024CHANGE
35 Days9 Days-72.4%

Summary: Homes in Olympia Fields had an average of 9 days on market in Nov 2024, down by 72.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Olympia Fields are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 3 homes were sold in Olympia Fields; 100% of homes were sold within 30 days, 0% 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 17 Days Ago

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