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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River Forest Township is a seller's market

Buyer's
Market

Difference Since May 2021

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

Key Takeaway

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

How much do homes in River Forest Township, 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 Township 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 Township
-7.1%
River Forest
-7.1%

How many homes are available in River Forest Township, 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 Township, 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 Township 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 Township, IL

Homes for sale in River Forest Township, IL have reached 82. Between April 2022 and May 2022, River Forest Township, IL real estate market has seen increase in the number of listings by 5.1%. Listings spent 32 days on the market in May 2022, and had a median list price of $520,000 during the same period. 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%, prices of 2 bedrooms properties increased by 2.4%, prices of 3 bedrooms properties increased by 6.8%, the cost of 4 bedrooms properties went up by 4.9%, prices of 5 bedrooms properties went up by 25.7%. Volume of homes for sale changed: 1 bedroom homes became 66.7% more available, 2 bedrooms homes became 12.5% more available, number of 3 bedrooms homes increased by 4.5%, the quantity of 4 bedrooms homes went down by 15.8%, 5 bedrooms homes did not move. In May 2022 more than 2 listings in River Forest Township, IL were sold above the asking price. During the same period more than 3 listings were sold at asking price, while more than 11 were sold below.

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