Is River Forest, IL a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing River Forest is a seller's market


Difference Since August 2022

Since last year, River Forest has remained a Seller's Market.

Key Takeaway

River Forest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in River Forest, IL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in River Forest have sold for 2.6% less than they did a year ago.

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

# BEDSAug 2022Aug 2023CHANGE
1 $101.5K$112.2K
2 $210K$244K
3 $542.5K$570K
4 $832.5K$865K
5+ $1.1M$1.2M

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

River Forest
River Forest Township
Oak Park Township
Oak Park

Housing Supply

How many homes are available in River Forest, IL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

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

# BEDSJul 2023Aug 2023CHANGE
1 32
2 1516
3 1822
4 1311
5+ 53

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 2023Aug 2023CHANGE

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in River Forest, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

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 2022Aug 2023CHANGE
33 Days17 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in River Forest are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

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Nearby Markets

What housing markets are near River Forest, IL?