Is Rich 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, Rich Township has remained a Seller's Market.
Housing Prices in Rich Township, IL
How much do homes in Rich Township, IL cost?
Median Sold Price
$198,000
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Rich Township was $198,000 in May 2024, down 4.8% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $64.5K | $49K | -24.0% |
2 Bedrooms | $149.9K | $147K | -2.0% |
3 Bedrooms | $193.7K | $185K | -4.5% |
4 Bedrooms | $266.6K | $265.3K | -0.5% |
5+ Bedrooms | $385K | $372.5K | -3.2% |
Summary: Rich Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
Olympia Fields | $324.1K | $339.5K | +4.7% |
Flossmoor | $309.5K | $321.9K | +4.0% |
Country Club Hills | $189.9K | $191.5K | +0.8% |
Matteson | $240K | $234.9K | -2.1% |
Rich Township | $207.9K | $198K | -4.8% |
Housing Supply in Rich Township, IL
How many homes are available in Rich Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
396 | 428 | +8.1% |
Summary: The Rich Township real estate market had 428 homes for sale in May 2024, a 8.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 78 | 86 | +10.3% |
3 Bedrooms | 195 | 204 | +4.6% |
4 Bedrooms | 105 | 116 | +10.5% |
5+ Bedrooms | 16 | 20 | +25.0% |
Summary: The Rich Township 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 10.3%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
100 | 94 | -6.0% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Summary: A total of 94 homes were sold or pending in Rich Township in May 2024, down by 6.0% month-over-month. Of the 94 sold homes, 44% were sold under asking, 17% were sold at asking, and 39% were sold over asking.
Days on Market for Rich Township, IL
How long does it take to sell a home in Rich Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 31 Days | -10.2% |
Summary: Homes in Rich Township had an average of 31 days on market in May 2024, down by 10.2% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During May 2024, 94 homes were sold in Rich Township; 59% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.