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 April 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

$322,335

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$1,057(+0.3%)

Key Takeaway

The sold price of homes in Olympia Fields has remained the same since last year.

Summary: The median home sold price in Olympia Fields was $322,335 in April 2024, up 0.3% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $223.9K$221K
-1.3%
3 $270.4K$287.5K
+6.3%
4 $335K$339K
+1.2%
5+ $392.4K$482.5K
+23.0%

Summary: Olympia Fields housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 23%.

Median Sold Price Compared To Nearby Cities

Chicago Heights
+7.8%
Olympia Fields
0.3%
Park Forest
0.3%
Flossmoor
0.0%
Rich Township
-7.1%

Housing Supply in Olympia Fields, IL

How many homes are available in Olympia Fields, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2127+28.6%

Summary: The Olympia Fields real estate market had 27 homes for sale in April 2024, a 28.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 45
+25.0%
4 1517
+13.3%
5+ 24
+100.0%

Summary: The Olympia Fields housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Olympia Fields, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Olympia Fields in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% 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

Apr 2023Apr 2024CHANGE
28 Days37 Days+33.0%

Summary: Homes in Olympia Fields had an average of 37 days on market in Apr 2024, up by 33% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 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 April 2024, 4 homes were sold in Olympia Fields; 50% of homes were sold within 30 days, 50% 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 15 Days Ago

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