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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River Grove is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in River Grove, IL cost?

Median Sold Price

$260,000

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

-$1,000(-0.4%)

Key Takeaway

The sold price of homes in River Grove has remained the same since last year.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $114K$115K
+0.9%
2 $176.5K$228.2K
+29.3%
3 $275K$294.9K
+7.2%
4 $302K$320.2K
+6.0%
5+ $347.5K$507.5K
+46.0%

Median Sold Price Compared To Nearby Cities

Elmwood Park
+5.9%
Leyden Township
+2.6%
Franklin Park
+1.9%
Melrose Park
+1.8%
River Grove
-0.4%

How many homes are available in River Grove, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
3534-2.9%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 42
-50.0%
2 1110
-9.1%
3 710
+42.9%
4 910
+11.1%
5+ 42
-50.0%

Number of Homes Sold

Oct 2022Nov 2022%
127-41.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 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 Grove, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
33 Days18 Days-45.7%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in River Grove 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 Grove, IL

Number of homes for sale in River Grove, IL real estate market have reached 34. The inventory of homes for sale in River Grove, IL between October 2022 and November 2022 decreased by 2.9%. The median list price of listings available in November 2022 was $260,000, while the average time on the real estate market was 18 days. Listing prices have changed in this real estate market between October 2022 and November 2022: the cost of 1 bedroom properties went up by 0.9%, prices of 2 bedrooms properties increased by 29.3%, prices of 3 bedrooms properties increased by 7.2%, 4 bedrooms properties prices increased by 6%, 5 bedrooms properties became 46% more expensive. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes decreased by 50%, 2 bedrooms homes inventory decreased by 9.1%, number of 3 bedrooms homes increased by 42.9%, 4 bedrooms homes inventory increased by 11.1%, 5 bedrooms homes inventory decreased by 50%. While more than 2 listings in River Grove, IL in November 2022 were sold above asking price, there were more than 0 listings sold at asking price, and more than 5 were sold below.

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