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 neutral's market

Buyer's
Market

Difference Since June 2023

At the same time last year, River Grove was a Seller's Market.

Key Takeaway

River Grove is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in River Grove, IL

How much do homes in River Grove, IL cost?

Median Sold Price

$273,000

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$13,000(+5.0%)

Key Takeaway

Homes in River Grove have sold for 5% more than they did a year ago.

Summary: The median home sold price in River Grove was $273,000 in June 2024, up 5% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $125K$137K
+9.6%
2 $230K$196K
-14.8%
3 $297.5K$311.2K
+4.6%
4 $302.5K$349.5K
+15.5%
5+ $560K$472.5K
-15.6%

Summary: River Grove housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.6%, 2 bedroom homes decreased by 14.8%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes decreased by 15.6%.

Median Sold Price Compared To Nearby Cities

Elmwood Park
+12.7%
Franklin Park
+12.7%
Leyden Township
+8.4%
River Grove
+5.0%
Melrose Park
+3.4%

Housing Supply in River Grove, IL

How many homes are available in River Grove, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
2519-24.0%

Summary: The River Grove real estate market had 19 homes for sale in June 2024, a 24.0% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 42
-50.0%
2 45
+25.0%
3 74
-42.9%
4 86
-25.0%
5+ 22
0.0%

Summary: The River Grove housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 42.9%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
133-76.9%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was 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 could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in River Grove in June 2024, down by 76.9% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% 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

Jun 2023Jun 2024CHANGE
14 Days53 Days+269.2%

Summary: Homes in River Grove had an average of 53 days on market in Jun 2024, up by 269.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was 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.

Summary: During June 2024, 3 homes were sold in River Grove; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 26 Days Ago

Newest Listings in River Grove, IL

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