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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riverside is a buyer's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Riverside, IL

How much do homes in Riverside, IL cost?

Median Sold Price

$401,500

$251/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$21,500(+5.7%)

Key Takeaway

Homes in Riverside have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Riverside was $401,500 in September 2024, up 5.7% from last year, and the median price per square foot was $251.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $138.6K$133.5K
-3.7%
2 $272K$300K
+10.3%
3 $382K$396.2K
+3.7%
4 $622.5K$660K
+6.0%
5+ $812.5K$583.7K
-28.2%

Summary: Riverside housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.7%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 28.2%.

Median Sold Price Compared To Nearby Cities

Riverside Township
+11.8%
Berwyn
+9.5%
Riverside
+5.7%
North Riverside
+3.7%

Housing Supply in Riverside, IL

How many homes are available in Riverside, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4245+7.1%

Summary: The Riverside real estate market had 45 homes for sale in September 2024, a 7.1% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 10
-100.0%
2 1012
+20.0%
3 1717
0.0%
4 1011
+10.0%
5+ 45
+25.0%

Summary: The Riverside housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
166-62.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riverside, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Riverside in September 2024, down by 62.5% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.

Days on Market for Riverside, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
14 Days9 Days-38.0%

Summary: Homes in Riverside had an average of 9 days on market in Sep 2024, down by 38% compared to last year.

Breakdown of Home Sale Times

6 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 Riverside are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 6 homes were sold in Riverside; 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 4 Days Ago

Newest Listings in Riverside, IL

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