Is Richton Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richton Park is a neutral's market

Buyer's
Market

Difference Since October 2021

At the same time last year, Richton Park was a Seller's Market.

Key Takeaway

Richton Park is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Richton Park, IL cost?

Median Sold Price

$185,500

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$18,500(+11.1%)

Key Takeaway

Homes in Richton Park have sold for 11.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $44.5K$49K
+10.1%
2 $79.2K$97.5K
+23.1%
3 $170K$186K
+9.4%
4 $240K$255K
+6.3%
5+ $268K$316K
+17.9%

Median Sold Price Compared To Nearby Cities

University Park
+23.3%
Park Forest
+21.8%
Monee Township
+18.7%
Richton Park
+11.1%
Matteson
+11.1%

How many homes are available in Richton Park, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
6976+10.1%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 33
0.0%
2 1615
-6.3%
3 3239
+21.9%
4 1718
+5.9%
5+ 11
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
1112+9.1%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richton Park, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.

Average Sale Time

Oct 2021Oct 2022%
19 Days29 Days+53.5%

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Richton Park 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 Richton Park, IL

There are 76 homes are for sale in Richton Park, IL real estate market. In October 2022 in Richton Park, IL there were 10.1% more homes for sale than in September 2022. In October 2022 median list price was $185,500 and the average listing age was 29 days. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 10.1%, 2 bedrooms properties prices increased by 23.1%, the cost of 3 bedrooms properties went up by 9.4%, 4 bedrooms properties became 6.3% more expensive, prices of 5 bedrooms properties increased by 17.9%. This housing market inventory have changed: 1 bedroom homes did not move, 2 bedrooms homes became 6.3% less available, 3 bedrooms homes inventory increased by 21.9%, the quantity of 4 bedrooms homes went up by 5.9%, the quantity of 5 bedrooms homes have not changed. Richton Park, IL housing market in October 2022 saw over 4 listings sold above listed price, more than 5 sold at listed price and over 3 sold below.

Related Housing Market Reports