Is Riverdale, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riverdale is a buyer's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Riverdale is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Riverdale, IL

How much do homes in Riverdale, IL cost?

Median Sold Price

$130,000

$110/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$17,000(+15.0%)

Key Takeaway

Homes in Riverdale have sold for 15% more than they did a year ago.

Summary: The median home sold price in Riverdale was $130,000 in May 2024, up 15% from last year, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $30K$29K
-3.3%
2 $105K$115.5K
+10.0%
3 $132.5K$136.7K
+3.2%
4 $125K$194.9K
+55.9%
5+ $162K$120K
-25.9%

Summary: Riverdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 55.9%, and 5+ bedroom homes decreased by 25.9%.

Median Sold Price Compared To Nearby Cities

Calumet Township
+15.7%
Riverdale
+15.0%
Dixmoor
+13.3%
Calumet Park
+13.2%
Blue Island
-0.7%

Housing Supply in Riverdale, IL

How many homes are available in Riverdale, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6874+8.8%

Summary: The Riverdale real estate market had 74 homes for sale in May 2024, a 8.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 2323
0.0%
3 3233
+3.1%
4 711
+57.1%
5+ 67
+16.7%

Summary: The Riverdale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1310-23.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riverdale, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Riverdale in May 2024, down by 23.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for Riverdale, IL

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

Average Sale Time

May 2023May 2024CHANGE
86 Days40 Days-52.8%

Summary: Homes in Riverdale had an average of 40 days on market in May 2024, down by 52.8% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Riverdale are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 10 homes were sold in Riverdale; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% 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 12 Days Ago

Newest Listings in Riverdale, IL

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