Is Riverside Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riverside Township is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Riverside Township was a Seller's Market.

Key Takeaway

Riverside Township 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 Riverside Township, IL

How much do homes in Riverside Township, IL cost?

Median Sold Price

$393,000

$247/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$35,000(+9.8%)

Key Takeaway

Homes in Riverside Township have sold for 9.8% more than they did a year ago.

Summary: The median home sold price in Riverside Township was $393,000 in May 2024, up 9.8% from last year, and the median price per square foot was $247.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $110.5K$132.2K
+19.7%
2 $263K$300K
+14.1%
3 $393K$361K
-8.1%
4 $529.5K$615K
+16.1%
5+ $545K$590K
+8.3%

Summary: Riverside Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.7%, 2 bedroom homes increased by 14.1%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 8.3%.

Median Sold Price Compared To Nearby Cities

Brookfield
+11.1%
Riverside Township
+9.8%
North Riverside
+8.5%
Lyons
+2.9%
Riverside
-1.3%

Housing Supply in Riverside Township, IL

How many homes are available in Riverside Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6467+4.7%

Summary: The Riverside Township real estate market had 67 homes for sale in May 2024, a 4.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 31
-66.7%
2 1411
-21.4%
3 2826
-7.1%
4 1220
+66.7%
5+ 79
+28.6%

Summary: The Riverside Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2411-54.2%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riverside Township, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in Riverside Township in May 2024, down by 54.2% month-over-month. Of the 11 sold homes, 18% were sold under asking, 18% were sold at asking, and 64% were sold over asking.

Days on Market for Riverside Township, IL

How long does it take to sell a home in Riverside Township, IL?

Average Sale Time

May 2023May 2024CHANGE
11 Days8 Days-28.8%

Summary: Homes in Riverside Township had an average of 8 days on market in May 2024, down by 28.8% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Riverside Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 11 homes were sold in Riverside Township; 100% of homes were sold within 30 days, 0% 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 1 Day Ago

Newest Listings in Riverside Township, IL

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