Is Rich Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Rich Township was a Seller's Market.
Housing Prices in Rich Township, IL
How much do homes in Rich Township, IL cost?
Median Sold Price
$202,577
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Summary: The median home sold price in Rich Township was $202,577 in November 2023, up 0.5% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $51.5K | $64.5K | +25.2% |
2 Bedrooms | $139.9K | $148.5K | +6.1% |
3 Bedrooms | $190K | $190K | 0.0% |
4 Bedrooms | $256.3K | $262K | +2.2% |
5+ Bedrooms | $358K | $387K | +8.1% |
Summary: Rich Township housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 25.2%, 2 bedroom homes increased by 6.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Cities
Flossmoor | $300K | $307.5K | +2.5% |
Olympia Fields | $319.5K | $324.6K | +1.6% |
Rich Township | $201.4K | $202.5K | 0.5% |
Matteson | $235K | $229.4K | -2.4% |
Country Club Hills | $195K | $189.4K | -2.8% |
Housing Supply in Rich Township, IL
How many homes are available in Rich Township, IL?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
396 | 423 | +6.8% |
Summary: The Rich Township real estate market had 423 homes for sale in November 2023, a 6.8% increase compared to October 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 72 | 75 | +4.2% |
3 Bedrooms | 186 | 192 | +3.2% |
4 Bedrooms | 114 | 127 | +11.4% |
5+ Bedrooms | 24 | 28 | +16.7% |
Summary: The Rich Township housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
93 | 61 | -34.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Rich Township in November 2023, down by 34.4% month-over-month. Of the 61 sold homes, 39% were sold under asking, 20% were sold at asking, and 41% 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
Nov 2022 | Nov 2023 | CHANGE |
---|---|---|
31 Days | 28 Days | -8.8% |
Summary: Homes in Rich Township had an average of 28 days on market in Nov 2023, down by 8.8% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During November 2023, 61 homes were sold in Rich Township; 62% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.