Orland Park Homes Supply & Demand Chart for All of 2011

We finally have our year-end statistics and the chart above shows us exactly what a Buyer's Market is. The red lines represent active Orland Park homes for sale. The blue line shows us homes that went under contract for the month. The green line shows homes that sold and closed.

One thing I especially like about this chart is that it shows us what months showed the most activity in each category. August had the largest supply of homes for sale. More homes went under contract in May and the most closings occurred in July from those May contracts. Not much went under contract in December, which is usually the norm.

If you're a seller in Orland Park and you're wondering why your place is sitting on the market without any offers, this chart should hopefully put into perspective the over-supply of homes for sale. Buyers have a veritable smorgasbord of properties to choose from and homes must be priced at or under market value to have a chance.

You might think you're at market value, but if your home doesn't show as well as a similar home priced the same then buyers won't make an offer. Sometimes we agents feel like broken records - reduce your price, over and over. The rule of thumb is for every 4-6 weeks without an offer, a 3-5% price reduction should be taken until you receive one. When we sold our home recently we reduced price every 3 weeks. It depends on your motivation but if you don't adjust, the market will overtake your current price and you will be competing with more valuable homes that have kept up with the market.

Orland Park hasn't been hit as hard as some other villages, but it's still not easy being a seller in today's market. On the other hand, buyers have a huge selection and low interest rates to boot. If you're thinking of buying and/or selling, give Judy Orr a call at 708-536-8200 or use the Email me link to the right. This chart and my comments might seem negative, but I've been super busy and I feel like 2012 is going to be better than 2011.

Orland Park Brook Hills Subdivision Sales | Orland Park Homes

2011 Brook Hills Subdivision Home Sales

2011 Sold Orland Park Homes	List Price	Sold Price	Closed Date	LP/SP	Price/Sqft
17240 Brookgate Dr. Orland Park	$279,999	$270,000	Jan. 18th 2011	96%	$92
11533 Brookshire Dr. Orland Park	$299,900	$250,000	Jan. 21st 2011	83%	$70
11618 Valley Brook Dr. Orland Park	$289,900	$285,000	Feb. 25th 2011	98%	$132
11902 Swilly Ct. Orland Park	$356,000	$325,000	Mar. 1st 2011	91%	$93
17442 Harvest Hill Dr. Orland Park	$329,000	$295,000	Mar. 4th 2011	90%	$117
17188 Winding Creek Dr. Orland Park	$359,900	$325,000	Mar. 11th 2011	90%	$100
11600 Brookwood Dr. Orland Park	$374,900	$305,000	Mar. 31st 2011	81%	$131
11764 Brookshire Dr. Orland Park	$344,900	$315,000	Jun. 13th 2011	91%	$121
17244 Grange Dr. Orland Park	$325,000	$295,000	Jul. 13th 2011	91%	$128
17138 Kropp Ct. Orland Park	$299,900	$280,000	Jul. 14th 2011	93%	$129
17625 West Brook Dr. Orland Park	$295,000	$280,000	Sep. 9th 2011	95%	$115
17321 Brookgate Dr. Orland Park	$347,500	$305,000	Sep. 16th 2011	88%	$118
Avg. Results	$325,158	$294,167		91%	$112

The bar graph shown above will show the results of sales in the Brook Hills Subdivision of Orland Park. I have broken this down by both the last listing price before the home received an offer and the final sold price. These sales include all the Orland Park Homes Sold in Brook Hills Subdivision in 2011. There is a lot of information packed into this one graph so you can use this data to understand the market better as we move forward into 2012.

You will also see the break down below the graph showng some of the stats of these Orland Park Homes that were sold. Two important numbers as you see them above is LP/SP (List Price to Sold Price Ratio) and the Avg. Dollar Per Sqft. Out of all the above listed sales there was only one distressed property which was early Jan 2011. The good news is with only one Foreclosure sale in Brook Hills this did not effect the values drastically.

Price Per Sqft | Orland Park Brook Hills Homes

Price per sqft. is basically taking the amount of livable sqft in the home and breaking it down to how much per sqft the home is worth. This is one method that you will see some appraisers use and many builders use. While this serves the purpose of giving us an idea of where the value are falling in an area based on size, it's not appropriate to consider this to be truly accurate. There are other factors that will need to be considered when pricing the home such as basement, lot size, ext. type, style of home, condition, existing competition etc.

List To Sold Price Ratio | Orland Park Brook Hills Homes

This is the comparison of the most recent list price to the end sale price. One thing this helps you determine is at what level are buyers negotiating off the list price. For example, the first property on the list located at 17240 Brookgate Orland Park was listed at $279,999 at the time it took a contract. The property closed at $270,000, just under $10,000 off of the list price. The property received an offer for 96% of the last list price. Now look at the rest of the sold homes and you will see a fluctuation in this number. When you take the average of all the sales it's 91%. This gives you a good indication on what buyers are expecting to negotiate. So on a $250,000 list price for a home you could expect to negotiate roughly about $22,500 of your list price.

If you would like to know more about your Orland Park Home Values, give me a call at 708-620-4460.

For stats on Orland Park Homes in the Zip Code of 60467 please click below. These stats will include market analysis, community info, local schools, comparable areas, insider tips.
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For stats on Orland Park Homes in the Zip Code of 60462 please click below. These stats will include market analysis, community info, local schools, comparable areas, insider tips.
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Brook Hills Home Search

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Raymond Kennedy
Direct: 708-620-4460
Email: illinoisagent@gmail.com

In 2011 there were a total of 282 Single Family Detached Home sales in Orland Park Illinois. The number of sales are up 5.6% compared to 2010 total Home Sales in Orland Park. If you look above you will see the monthly breakdown of the number of sales per month.

What is interesting to see is that there is still a trend that your summer months hold more sales but the amount of sales stays pretty consistent across the board. If you look at the months of Jan. and Nov. you will see they are very close to the number of sales in the summer months.

If your considering selling your property you should not necessarily wait until spring or summer to put your Orland Park Home on the market. In fact, there are a couple of advantages to placing your home on the market during the winter months. Since the number of home sales in Orland Park are not drastically less in the winter months your opportunity to sell during this time is not as negatively effected as many people believe.

One big advantage is you will see competitive Orland Park Homes For Sale come off the market reducing your competition simply based off their belief that there are no buyers looking. Another advantage is as a home buyer looking during the colder/winter months, they typically are more motivated.

In order to really take advantage of this time you need to be very competitive on price as home prices are still on the decline. One method I use to help homeowners to determine where their price needs to be is to consider absorption rate for Orland Park Homes For Sale and the monthly market supply of homes for sale. Basically this shows us how many months it would take to sell the current inventory in Orland Park and gives us an indication on what is needed to make your home more competitive compared to other active listings.

According to our current active listings in Orland Park, there are 269 available Orland Park Homes For Sale. When compared to the monthly breakdown and total closed sales in 2011 our current monthly supply is 11.45 months. To find out more about how this number and other tools can help us price your home and sell it please contact Raymond Kennedy with Keller Williams Preferred Realty at 708-620-4460.

Important Orland Park Information and links below.

Click on the link below if you would like exclusive market insider details about Orland Park IL 60467. This will give you specifics on Orland Park Home Sales, Orland Park Price & Inventory Trends, Orland Park Community Info, Local Areas, Area Comparisons, and much more.
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Click on the link below if you would like exclusive market insider details about Orland Park IL 60462. This will give you specifics on Orland Park Home Sales, Orland Park Price & Inventory Trends, Orland Park Community Info, Local Areas, Area Comparisons, and much more.
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Click below to see all the active listings in Orland Park for single detached homes.
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Raymond Kennedy
Keller Williams Preferred Realty
Direct: 708-620-4460
Email: illinoisagent@gmail.com
Web: www.ActiveIllinoisHomes.com

Orland Park Christmas Lights Recycling

Orland Park is inviting residents to recycle Christmas lights that are no longer needed. This is an excellent way to help our environment and clear out those no longer needed holiday decorations. The lights will be processed in the United States and used for fuel and copper.

Let's help do our part for the environment and enjoy a safer and healthier holiday!

Through Feb. 1st 2012 these lights can be dropped off at the following locations in Orland Park

Village's Cultural Arts Center located at 14760 Park Lane.
The Franklin Loebe Center, 14650 South Ravinia.
Recreation Administration, 14600 South Ravinia.
The Sportsplex, 11351 West 159th Street.
The Police Station, 15100 South Ravinia.
The Frederick T. Owens Village Hall, 14700 South Ravinia Avenue.

Raymond Kennedy
Keller Williams Preferred Realty
708-620-4460