Is Orland Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orland Park is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Orland Park has remained a Seller's Market.

Key Takeaway

Orland Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Orland Park, IL

How much do homes in Orland Park, IL cost?

Median Sold Price

$354,959

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,700(+4.6%)

Key Takeaway

Homes in Orland Park have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Orland Park was $354,959 in November 2024, up 4.6% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $146.5K$166K
+13.3%
2 $251.6K$265.1K
+5.4%
3 $360K$380K
+5.5%
4 $467.5K$506K
+8.2%
5+ $675K$638K
-5.5%

Summary: Orland Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 5.5%.

Median Sold Price Compared To Nearby Cities

Orland Hills
+16.7%
Palos Park
+12.3%
Tinley Park
+6.3%
Orland Township
+5.9%
Orland Park
+4.6%

Housing Supply in Orland Park, IL

How many homes are available in Orland Park, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
293272-7.2%

Summary: The Orland Park real estate market had 272 homes for sale in November 2024, a 7.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 42
-50.0%
2 10192
-8.9%
3 12097
-19.2%
4 4657
+23.9%
5+ 2224
+9.1%

Summary: The Orland Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 8.9%, 3 bedroom homes decreased by 19.2%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
10074-26.0%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orland Park, you may be able to get a good deal. 48.6% of homes here sold below asking price last month.

Summary: A total of 74 homes were sold or pending in Orland Park in November 2024, down by 26.0% month-over-month. Of the 74 sold homes, 49% were sold under asking, 24% were sold at asking, and 27% 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

Nov 2023Nov 2024CHANGE
22 Days26 Days+17.5%

Summary: Homes in Orland Park had an average of 26 days on market in Nov 2024, up by 17.5% compared to last year.

Breakdown of Home Sale Times

53 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 74 homes were sold in Orland Park; 72% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 5% 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 2 Days Ago

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