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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River West is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in River West, IL

How much do homes in River West, IL cost?

Median Sold Price

$520,250

$323/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$55,250(+11.9%)

Key Takeaway

Homes in River West have sold for 11.9% more than they did a year ago.

Summary: The median home sold price in River West was $520,250 in April 2024, up 11.9% from last year, and the median price per square foot was $323.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $300K$315K
+5.0%
2 $420K$502.5K
+19.6%
3 $652.5K$655K
0.4%
4 -$958K
N/A
5+ $1.0M$1.6M
+58.1%

Summary: River West housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 0.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 58.1%.

Median Sold Price Compared To Nearby Neighborhoods

Noble Square
+18.2%
West Town
+13.6%
River West
+11.9%
Fulton River District
+8.4%
River North
-7.6%

Housing Supply in River West, IL

How many homes are available in River West, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2125+19.0%

Summary: The River West real estate market had 25 homes for sale in April 2024, a 19.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 45
+25.0%
2 1012
+20.0%
3 45
+25.0%
4 11
0.0%
5+ 22
0.0%

Summary: The River West housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
312+300.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in River West, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in River West in April 2024, up by 300.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for River West, IL

How long does it take to sell a home in River West, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
18 Days8 Days-53.3%

Summary: Homes in River West had an average of 8 days on market in Apr 2024, down by 53.3% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

0 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 West are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 12 homes were sold in River West; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in River West, IL

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