Is Tinley Park, 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, Tinley Park has remained a Seller's Market.
Housing Prices in Tinley Park, IL
How much do homes in Tinley Park, IL cost?
Median Sold Price
$295,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Tinley Park was $295,000 in May 2024, up 11.4% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $108.4K | $135K | +24.5% |
2 Bedrooms | $220K | $235K | +6.8% |
3 Bedrooms | $305K | $328.3K | +7.7% |
4 Bedrooms | $417.5K | $435K | +4.2% |
5+ Bedrooms | $500.5K | $519K | +3.7% |
Summary: Tinley Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.5%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
Tinley Park | $264.7K | $295K | +11.4% |
Orland Park | $315.2K | $349.9K | +11.0% |
Orland Township | $305.1K | $330.2K | +8.2% |
Oak Forest | $259.8K | $268.3K | +3.3% |
Orland Hills | $280K | $281K | 0.4% |
Housing Supply in Tinley Park, IL
How many homes are available in Tinley Park, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
187 | 217 | +16.0% |
Summary: The Tinley Park real estate market had 217 homes for sale in May 2024, a 16.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 75 | 87 | +16.0% |
3 Bedrooms | 66 | 76 | +15.2% |
4 Bedrooms | 28 | 32 | +14.3% |
5+ Bedrooms | 17 | 21 | +23.5% |
Summary: The Tinley Park 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 16%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 23.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
69 | 72 | +4.3% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Summary: A total of 72 homes were sold or pending in Tinley Park in May 2024, up by 4.3% month-over-month. Of the 72 sold homes, 28% were sold under asking, 14% were sold at asking, and 58% were sold over asking.
Days on Market for Tinley Park, IL
How long does it take to sell a home in Tinley Park, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 15 Days | +8.6% |
Summary: Homes in Tinley Park had an average of 15 days on market in May 2024, up by 8.6% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 72 homes were sold in Tinley Park; 83% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.