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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riverside Township is a seller's market

Buyer's
Market

Difference Since August 2022

Since last year, Riverside Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices

How much do homes in Riverside Township, IL cost?

Median Sold Price

$360,000

$246/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

-$9,000(-2.4%)

Key Takeaway

Homes in Riverside Township have sold for 2.4% less than they did a year ago.

Summary: The median home sold price in Riverside Township was $360,000 in August 2023, down 2.4% from last year, and the median price per square foot was $246.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $109K$145K
+33.0%
2 $280K$272K
-2.9%
3 $365K$368.7K
+1.0%
4 $537K$615K
+14.5%
5+ $597.5K$775K
+29.7%

Summary: Riverside Township housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 33%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 29.7%.

Median Sold Price Compared To Nearby Cities

Brookfield
+8.7%
North Riverside
+4.8%
Riverside Township
-2.4%
Lyons
-2.8%
Riverside
-11.5%

Housing Supply

How many homes are available in Riverside Township, IL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
6265+4.8%

Summary: The Riverside Township real estate market had 65 homes for sale in August 2023, a 4.8% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 22
0.0%
2 1012
+20.0%
3 2529
+16.0%
4 1916
-15.8%
5+ 66
0.0%

Summary: The Riverside Township housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 16%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
1913-31.6%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riverside Township, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Riverside Township in August 2023, down by 31.6% month-over-month. Of the 13 sold homes, 23% were sold under asking, 23% were sold at asking, and 54% were sold over asking.

Days on Market

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

Average Sale Time

Aug 2022Aug 2023CHANGE
23 Days23 Days-2.0%

Summary: Homes in Riverside Township had an average of 23 days on market in Aug 2023, down by 2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2023, 13 homes were sold in Riverside Township; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% 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 27 Days Ago

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Nearby Markets

What housing markets are near Riverside Township, IL?