Is Rich Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$197,638
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Rich Township was $197,638 in March 2024, down 4.7% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $53K | $95.2K | +79.7% |
2 Bedrooms | $149.9K | $149K | -0.6% |
3 Bedrooms | $195K | $185K | -5.2% |
4 Bedrooms | $262.6K | $260.2K | -0.9% |
5+ Bedrooms | $349.9K | $400K | +14.3% |
Summary: Rich Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 79.7%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 14.3%.
Median Sold Price Compared To Nearby Cities
Olympia Fields | $320K | $324.6K | +1.5% |
Flossmoor | $315K | $312.5K | -0.8% |
Matteson | $239.9K | $230K | -4.2% |
Country Club Hills | $198.5K | $189.9K | -4.3% |
Rich Township | $207.3K | $197.6K | -4.7% |
Housing Supply in Rich Township, IL
How many homes are available in Rich Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
368 | 405 | +10.1% |
Summary: The Rich Township real estate market had 405 homes for sale in March 2024, a 10.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 64 | 76 | +18.8% |
3 Bedrooms | 172 | 193 | +12.2% |
4 Bedrooms | 110 | 116 | +5.5% |
5+ Bedrooms | 21 | 19 | -9.5% |
Summary: The Rich Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 9.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
74 | 84 | +13.5% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 84 homes were sold or pending in Rich Township in March 2024, up by 13.5% month-over-month. Of the 84 sold homes, 39% were sold under asking, 23% were sold at asking, and 38% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 42 Days | -14.3% |
Summary: Homes in Rich Township had an average of 42 days on market in Mar 2024, down by 14.3% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Summary: During March 2024, 84 homes were sold in Rich Township; 58% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.