Is River Forest, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, River Forest has remained a Seller's Market.
Housing Prices
How much do homes in River Forest, IL cost?
Median Sold Price
$495,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Summary: The median home sold price in River Forest was $495,000 in August 2023, down 2.6% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $101.5K | $112.2K | +10.6% |
2 Bedrooms | $210K | $244K | +16.2% |
3 Bedrooms | $542.5K | $570K | +5.1% |
4 Bedrooms | $832.5K | $865K | +3.9% |
5+ Bedrooms | $1.1M | $1.2M | +0.7% |
Summary: River Forest housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 0.7%.
Median Sold Price Compared To Nearby Cities
Maywood | $239.8K | $235K | -2.0% |
River Forest | $508K | $495K | -2.6% |
River Forest Township | $508K | $495K | -2.6% |
Oak Park Township | $406K | $362.6K | -10.7% |
Oak Park | $406.7K | $362.6K | -10.8% |
Housing Supply
How many homes are available in River Forest, IL?
Number of Homes For Sale
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
54 | 54 | 0.0% |
Summary: The River Forest real estate market had 54 homes for sale in August 2023, the same as July 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 15 | 16 | +6.7% |
3 Bedrooms | 18 | 22 | +22.2% |
4 Bedrooms | 13 | 11 | -15.4% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The River Forest housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 22.2%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
15 | 18 | +20.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in River Forest in August 2023, up by 20.0% month-over-month. Of the 18 sold homes, 44% were sold under asking, 11% were sold at asking, and 44% were sold over asking.
Days on Market
How long does it take to sell a home in River Forest, IL?
Average Sale Time
Aug 2022 | Aug 2023 | CHANGE |
---|---|---|
33 Days | 17 Days | -48.0% |
Summary: Homes in River Forest had an average of 17 days on market in Aug 2023, down by 48% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During August 2023, 18 homes were sold in River Forest; 83% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.