Is River Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, River Grove was a Seller's Market.
Housing Prices in River Grove, IL
How much do homes in River Grove, IL cost?
Median Sold Price
$273,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in River Grove was $273,000 in March 2024, up 5% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $132K | +10.0% |
2 Bedrooms | $230K | $200K | -13.0% |
3 Bedrooms | $297K | $312.5K | +5.2% |
4 Bedrooms | $307.5K | $378K | +22.9% |
5+ Bedrooms | $530K | $472.5K | -10.8% |
Summary: River Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes decreased by 10.8%.
Median Sold Price Compared To Nearby Cities
Elmwood Park | $305K | $350.6K | +15.0% |
Franklin Park | $275K | $300K | +9.1% |
Leyden Township | $280K | $304.7K | +8.8% |
River Grove | $260K | $273K | +5.0% |
Melrose Park | $295K | $300K | +1.7% |
Housing Supply in River Grove, IL
How many homes are available in River Grove, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 26 | +52.9% |
Summary: The River Grove real estate market had 26 homes for sale in March 2024, a 52.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 3 | 6 | +100.0% |
3 Bedrooms | 6 | 8 | +33.3% |
4 Bedrooms | 4 | 7 | +75.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The River Grove housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in River Grove in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for River Grove, IL
How long does it take to sell a home in River Grove, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
12 Days | 57 Days | +371.7% |
Summary: Homes in River Grove had an average of 57 days on market in Mar 2024, up by 371.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in River Grove; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.