Is Romeoville, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Romeoville is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Romeoville has remained a Seller's Market.

Key Takeaway

Romeoville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Romeoville, IL

How much do homes in Romeoville, IL cost?

Median Sold Price

$280,000

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$20,000(+7.7%)

Key Takeaway

Homes in Romeoville have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Romeoville was $280,000 in May 2024, up 7.7% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$220K
N/A
2 $243.7K$260K
+6.7%
3 $255K$279.9K
+9.8%
4 $340K$348.9K
+2.6%
5+ $268.5K$358.5K
+33.5%

Summary: Romeoville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 33.5%.

Median Sold Price Compared To Nearby Cities

Lockport Township
+12.2%
Du Page Township
+9.7%
Plainfield Township
+9.3%
Bolingbrook
+8.0%
Romeoville
+7.7%

Housing Supply in Romeoville, IL

How many homes are available in Romeoville, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
103115+11.7%

Summary: The Romeoville real estate market had 115 homes for sale in May 2024, a 11.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1622
+37.5%
3 6271
+14.5%
4 2420
-16.7%
5+ 12
+100.0%

Summary: The Romeoville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3742+13.5%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Romeoville, you could pay more than the asking price. 61.9% of homes here sold above asking price last month.

Summary: A total of 42 homes were sold or pending in Romeoville in May 2024, up by 13.5% month-over-month. Of the 42 sold homes, 21% were sold under asking, 17% were sold at asking, and 62% were sold over asking.

Days on Market for Romeoville, IL

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

Average Sale Time

May 2023May 2024CHANGE
26 Days12 Days-51.5%

Summary: Homes in Romeoville had an average of 12 days on market in May 2024, down by 51.5% compared to last year.

Breakdown of Home Sale Times

37 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 42 homes were sold in Romeoville; 88% of homes were sold within 30 days, 12% 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

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