Is Richmond Township, 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, Richmond Township has remained a Seller's Market.
Housing Prices in Richmond Township, IL
How much do homes in Richmond Township, IL cost?
Median Sold Price
$364,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Richmond Township was $364,000 in May 2024, up 10.3% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $98K | $119.9K | +22.4% |
2 Bedrooms | $138K | $150K | +8.7% |
3 Bedrooms | $349K | $372K | +6.6% |
4 Bedrooms | $415K | $480K | +15.7% |
5+ Bedrooms | $444.5K | $485K | +9.1% |
Summary: Richmond Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.4%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Cities
Richmond | $209.7K | $290K | +38.3% |
Richmond Township | $330K | $364K | +10.3% |
Genoa City | $260K | $283K | +8.8% |
Burton Township | $359.9K | $375K | +4.2% |
Spring Grove | $391.9K | $376K | -4.1% |
Housing Supply in Richmond Township, IL
How many homes are available in Richmond Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
24 | 34 | +41.7% |
Summary: The Richmond Township real estate market had 34 homes for sale in May 2024, a 41.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 9 | 13 | +44.4% |
4 Bedrooms | 10 | 14 | +40.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Richmond Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes remained the same, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 7 | +75.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Richmond Township in May 2024, up by 75.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.
Days on Market for Richmond Township, IL
How long does it take to sell a home in Richmond Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 17 Days | -43.5% |
Summary: Homes in Richmond Township had an average of 17 days on market in May 2024, down by 43.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Richmond Township; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.