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 June 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

$280,400

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$21,400(+8.3%)

Key Takeaway

Homes in Romeoville have sold for 8.3% more than they did a year ago.

Summary: The median home sold price in Romeoville was $280,400 in June 2024, up 8.3% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 -$220K
N/A
2 $245K$263.7K
+7.7%
3 $255K$278.4K
+9.2%
4 $332.2K$359K
+8.1%
5+ $252K$349.7K
+38.8%

Summary: Romeoville housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 38.8%.

Median Sold Price Compared To Nearby Cities

Du Page Township
+12.2%
Lockport Township
+11.7%
Bolingbrook
+11.4%
Plainfield Township
+9.0%
Romeoville
+8.3%

Housing Supply in Romeoville, IL

How many homes are available in Romeoville, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
118112-5.1%

Summary: The Romeoville real estate market had 112 homes for sale in June 2024, a 5.1% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 00
0.0%
2 2321
-8.7%
3 7267
-6.9%
4 2122
+4.8%
5+ 22
0.0%

Summary: The Romeoville housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.7%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
4335-18.6%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

23 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. 65.7% of homes here sold above asking price last month.

Summary: A total of 35 homes were sold or pending in Romeoville in June 2024, down by 18.6% month-over-month. Of the 35 sold homes, 14% were sold under asking, 20% were sold at asking, and 66% 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

Jun 2023Jun 2024CHANGE
13 Days11 Days-9.8%

Summary: Homes in Romeoville had an average of 11 days on market in Jun 2024, down by 9.8% compared to last year.

Breakdown of Home Sale Times

31 Homes Were Sold
Under 30 Days

4 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 June 2024, 35 homes were sold in Romeoville; 89% of homes were sold within 30 days, 11% 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 26 Days Ago

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