Is River North, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, River North was a Seller's Market.
Housing Prices in River North, IL
How much do homes in River North, IL cost?
Median Sold Price
$406,880
$372/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in River North was $406,880 in April 2024, down 7.6% from last year, and the median price per square foot was $372.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $298.9K | $302.7K | +1.3% |
2 Bedrooms | $480K | $459.9K | -4.2% |
3 Bedrooms | $915K | $899K | -1.7% |
4 Bedrooms | $1.5M | $1.4M | -4.1% |
5+ Bedrooms | $1.7M | $2.1M | +24.6% |
Summary: River North housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes increased by 24.6%.
Median Sold Price Compared To Nearby Neighborhoods
Near North Side | $436.5K | $420.3K | -3.7% |
River North | $440.5K | $406.8K | -7.6% |
Rush & Division | $485K | $427.5K | -11.9% |
Magnificent Mile | $500K | $440K | -12.0% |
Admirals Pointe | $397.5K | $280K | -29.6% |
Housing Supply in River North, IL
How many homes are available in River North, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
479 | 584 | +21.9% |
Summary: The River North real estate market had 584 homes for sale in April 2024, a 21.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 162 | 194 | +19.8% |
2 Bedrooms | 194 | 231 | +19.1% |
3 Bedrooms | 96 | 125 | +30.2% |
4 Bedrooms | 24 | 29 | +20.8% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The River North housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.8%, 2 bedroom homes increased by 19.1%, 3 bedroom homes increased by 30.2%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
82 | 93 | +13.4% |
Asking Price vs. Sold Price
47 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 93 homes were sold or pending in River North in April 2024, up by 13.4% month-over-month. Of the 93 sold homes, 51% were sold under asking, 18% were sold at asking, and 31% were sold over asking.
Days on Market for River North, IL
How long does it take to sell a home in River North, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 38 Days | -10.3% |
Summary: Homes in River North had an average of 38 days on market in Apr 2024, down by 10.3% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During April 2024, 93 homes were sold in River North; 65% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.