Hi, I’m Robyn Flowers, a realtor in the south suburbs and this is your hyperlocal market update for Tinley Park and Orland Park. Today we are looking at data for single family existing homes in both markets and 4 zip codes in total. Let’s start with the tale of 2 Tinleys:
In the 60477 Zip: there were 350 homes sold with a median sales price of $291,500. 450 new listings came on the market and there is currently a 1-month supply of available for sale
In the 60487 zip, there were 208 homes sold with a median sales price of $380,000. 244 new listings came on the market and there is currently .7 months' supply of homes available
Now for Orland Park’s tale of 2 Zips
In the 60462 zip there were 329 homes sold with a median sales price of $380,000. 477 new listings came to the market and there is currently 1.3 months' supply of homes available.
In the 60467 zip there were 247 homes sold with a median sales price of $525,000. 338 new listings came to the market and there is currently 1.6 months' supply of homes for sale
The August market showed a slight dip from previous months and so far this month price adjustments have been the norm rather than the exception. I believe the September market data will give a better insight into where the market is heading overall for the area and what is appealing financially to the buyers that are currently in the market.
In comparing data to August of 2019, we are still in a housing deficit, but prices have risen in all 4 zips from 23.2% to 28.9%.
And that is a wrap of the Local August market for Tinley Park and Orland Park. If you want a deeper dive into your neighborhood: call, text, dm or email to discuss your neighborhood. I’d love to talk real estate with you today.