Is Richwoods Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Richwoods Township has remained a Seller's Market.
Key Takeaway
Richwoods Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richwoods Township, IL
How much do homes in Richwoods Township, IL cost?
Median Sold Price
$119,950
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Richwoods Township have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Richwoods Township was $119,950 in April 2024, up 9.1% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $58.2K | $65K | +11.7% |
| 2 Bedrooms | $83K | $95.7K | +15.4% |
| 3 Bedrooms | $141.7K | $124.5K | -12.2% |
| 4 Bedrooms | $130.9K | $159K | +21.4% |
| 5+ Bedrooms | $177K | $935K | +428.2% |
Summary: Richwoods Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 428.2%.
Median Sold Price Compared To Nearby Cities
| Peoria Heights | $109.4K | $119.9K | +9.6% |
| Peoria Heights | $109.9K | $120K | +9.2% |
| Richwoods Township | $109.9K | $119.9K | +9.1% |
| Peoria | $124.9K | $126.3K | +1.1% |
| Peoria City Township | $106.8K | $106.7K | -0.1% |
Housing Supply in Richwoods Township, IL
How many homes are available in Richwoods Township, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Summary: The Richwoods Township real estate market had 20 homes for sale in April 2024, a 9.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 13 | 8 | -38.5% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Richwoods Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes decreased by 38.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richwoods Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Richwoods Township in April 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Richwoods Township, IL
How long does it take to sell a home in Richwoods Township, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 19 Days | +533.3% |
Summary: Homes in Richwoods Township had an average of 19 days on market in Apr 2024, up by 533.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richwoods Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Richwoods Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.