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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rich Township is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in Rich Township, IL cost?

Median Sold Price

$201,605

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$21,625(+12.0%)

Key Takeaway

Homes in Rich Township have sold for 12% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $68K$51.5K
-24.3%
2 $130K$140K
+7.7%
3 $160K$190K
+18.8%
4 $250K$255.6K
+2.3%
5+ $327.5K$358K
+9.3%

Median Sold Price Compared To Nearby Cities

Country Club Hills
+20.9%
Olympia Fields
+15.4%
Rich Township
+12.0%
Matteson
+9.3%
Flossmoor
+9.1%

How many homes are available in Rich Township, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
474507+7.0%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 45
+25.0%
2 113108
-4.4%
3 200222
+11.0%
4 130146
+12.3%
5+ 2726
-3.7%

Number of Homes Sold

Oct 2022Nov 2022%
8688+2.3%

Asking Price vs. Sold Price

39 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

32 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rich Township, you may be able to get a good deal. 44.3% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
24 Days31 Days+28.9%

Breakdown of Home Sale Times

57 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Rich Township, IL

Number of homes for sale in Rich Township, IL real estate market have reached 507. Between October 2022 and November 2022, Rich Township, IL real estate market has seen increase in the number of listings by 7%. While the average time on the market in November 2022 was 31 days, the median list price was $201,605. Between October 2022 and November 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices decreased by 24.3%, the cost of 2 bedrooms properties went up by 7.7%, 3 bedrooms properties prices increased by 18.8%, prices of 4 bedrooms properties went up by 2.3%, prices of 5 bedrooms properties increased by 9.3%. Volume of homes for sale changed: the quantity of 1 bedroom homes went up by 25%, volume of 2 bedrooms homes went down by 4.4%, volume of 3 bedrooms homes went up by 11%, number of 4 bedrooms homes increased by 12.3%, number of 5 bedrooms homes decreased by 3.7%. In November 2022, from all listings sold in Rich Township, IL there were more than 32 sold above asking price, over 39 sold below and more than 17 were sold right at the asked price.

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