Is Richton Park, 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, Richton Park has remained a Seller's Market.
Housing Prices in Richton Park, IL
How much do homes in Richton Park, IL cost?
Median Sold Price
$195,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Richton Park was $195,000 in March 2024, up 11.4% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $50K | $42.5K | -15.0% |
2 Bedrooms | $95K | $113K | +18.9% |
3 Bedrooms | $185K | $194.4K | +5.1% |
4 Bedrooms | $239K | $285K | +19.2% |
5+ Bedrooms | $350.5K | $320K | -8.7% |
Summary: Richton Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15%, 2 bedroom homes increased by 18.9%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes decreased by 8.7%.
Median Sold Price Compared To Nearby Cities
Richton Park | $175K | $195K | +11.4% |
Park Forest | $140K | $140K | 0.0% |
University Park | $176.5K | $175K | -0.8% |
Matteson | $239.9K | $230K | -4.2% |
Rich Township | $207.3K | $197.6K | -4.7% |
Housing Supply in Richton Park, IL
How many homes are available in Richton Park, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 54 | +10.2% |
Summary: The Richton Park real estate market had 54 homes for sale in March 2024, a 10.2% 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 | 7 | 6 | -14.3% |
3 Bedrooms | 21 | 29 | +38.1% |
4 Bedrooms | 20 | 18 | -10.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Richton Park 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 decreased by 14.3%, 3 bedroom homes increased by 38.1%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 13 | +44.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Richton Park in March 2024, up by 44.4% month-over-month. Of the 13 sold homes, 38% were sold under asking, 0% were sold at asking, and 62% were sold over asking.
Days on Market for Richton Park, IL
How long does it take to sell a home in Richton Park, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
48 Days | 26 Days | -45.4% |
Summary: Homes in Richton Park had an average of 26 days on market in Mar 2024, down by 45.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in Richton Park; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.