Is River West, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, River West has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $300K | $315K | +5.0% |
2 Bedrooms | $420K | $502.5K | +19.6% |
3 Bedrooms | $652.5K | $655K | 0.4% |
4 Bedrooms | - | $958K | N/A |
5+ Bedrooms | $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 | $531K | $627.5K | +18.2% |
West Town | $550K | $625K | +13.6% |
River West | $465K | $520.2K | +11.9% |
Fulton River District | $433.5K | $470K | +8.4% |
River North | $440.5K | $406.8K | -7.6% |
Housing Supply in River West, IL
How many homes are available in River West, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 25 | +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
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 10 | 12 | +20.0% |
3 Bedrooms | 4 | 5 | +25.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 2 | 2 | 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 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 12 | +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
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 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 8 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
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.