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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Romeoville is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Romeoville, IL

How much do homes in Romeoville, IL cost?

Median Sold Price

$280,000

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$20,000(+7.7%)

Key Takeaway

Homes in Romeoville have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Romeoville was $280,000 in May 2024, up 7.7% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$220K
N/A
2 $243.7K$260K
+6.7%
3 $255K$279.9K
+9.8%
4 $340K$348.9K
+2.6%
5+ $268.5K$358.5K
+33.5%

Summary: Romeoville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 33.5%.

Median Sold Price Compared To Nearby Cities

Lockport Township
+12.2%
Du Page Township
+9.7%
Plainfield Township
+9.3%
Bolingbrook
+8.0%
Romeoville
+7.7%

Housing Supply in Romeoville, IL

How many homes are available in Romeoville, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
103115+11.7%

Summary: The Romeoville real estate market had 115 homes for sale in May 2024, a 11.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1622
+37.5%
3 6271
+14.5%
4 2420
-16.7%
5+ 12
+100.0%

Summary: The Romeoville 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 increased by 37.5%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3742+13.5%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Romeoville, you could pay more than the asking price. 61.9% of homes here sold above asking price last month.

Summary: A total of 42 homes were sold or pending in Romeoville in May 2024, up by 13.5% month-over-month. Of the 42 sold homes, 21% were sold under asking, 17% were sold at asking, and 62% were sold over asking.

Days on Market for Romeoville, IL

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

Average Sale Time

May 2023May 2024CHANGE
26 Days12 Days-51.5%

Summary: Homes in Romeoville had an average of 12 days on market in May 2024, down by 51.5% compared to last year.

Breakdown of Home Sale Times

37 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 42 homes were sold in Romeoville; 88% of homes were sold within 30 days, 12% 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 16 Days Ago

Newest Listings in Romeoville, IL

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