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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River Forest is a seller's market

Buyer's
Market

Difference Since May 2021

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.

How much do homes in River Forest, IL cost?

Median Sold Price

$520,000

$233/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

-$39,500(-7.1%)

Key Takeaway

Homes in River Forest have sold for 7.1% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $85K$100K
+17.6%
2 $200.1K$205K
+2.4%
3 $515K$550K
+6.8%
4 $786.5K$825K
+4.9%
5+ $875K$1.1M
+25.7%

Median Sold Price Compared To Nearby Cities

Maywood
+14.6%
Oak Park Township
+5.3%
Oak Park
+5.1%
River Forest
-7.1%
River Forest Township
-7.1%

How many homes are available in River Forest, IL?

Number of Homes For Sale

Apr 2022May 2022%
7882+5.1%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 610
+66.7%
2 1618
+12.5%
3 2223
+4.5%
4 1916
-15.8%
5+ 1515
0.0%

Number of Homes Sold

Apr 2022May 2022%
2616-38.5%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 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. 68.8% of homes here sold below asking price last month.

Average Sale Time

May 2021May 2022%
29 Days32 Days+11.5%

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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.

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

About River Forest, IL

River Forest, IL has 82 homes for sale to choose from. The number of listings in River Forest, IL increased by 5.1% between April 2022 and May 2022. While the average time on the market in May 2022 was 32 days, the median list price was $520,000. Between April 2022 and May 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties increased by 17.6%, 2 bedrooms properties became 2.4% more expensive, 3 bedrooms properties prices increased by 6.8%, prices of 4 bedrooms properties went up by 4.9%, 5 bedrooms properties became 25.7% more expensive. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory increased by 66.7%, 2 bedrooms homes inventory increased by 12.5%, 3 bedrooms homes became 4.5% more available, 4 bedrooms homes inventory decreased by 15.8%, 5 bedrooms homes inventory did not change. Over 2 listings were sold over their listed price in May 2022 in River Forest, IL. In the same period over 11 listings were sold below the listed price and 3 listings were sold for the listed price.

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