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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Reedwood is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Reedwood, IL

How much do homes in Reedwood, IL cost?

Median Sold Price

$210,000

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$20,100(+10.6%)

Key Takeaway

Homes in Reedwood have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Reedwood was $210,000 in April 2024, up 10.6% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $140K-
N/A
2 $175K$200K
+14.3%
3 $199.9K$215K
+7.5%
4 $228.4K$238.7K
+4.5%
5+ $285K-
N/A

Summary: Reedwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Reedwood
+10.6%
West Park
+0.8%

Housing Supply in Reedwood, IL

How many homes are available in Reedwood, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1813-27.8%

Summary: The Reedwood real estate market had 13 homes for sale in April 2024, a 27.8% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 74
-42.9%
3 108
-20.0%
4 00
0.0%
5+ 11
0.0%

Summary: The Reedwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
74-42.9%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Reedwood, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Reedwood in April 2024, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.

Days on Market for Reedwood, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
11 Days10 Days-6.8%

Summary: Homes in Reedwood had an average of 10 days on market in Apr 2024, down by 6.8% compared to last year.

Breakdown of Home Sale Times

4 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 Reedwood are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 4 homes were sold in Reedwood; 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 2 Days Ago

Newest Listings in Reedwood, IL

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