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 September 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

$282,250

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$12,637(+4.7%)

Key Takeaway

Homes in Romeoville have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Romeoville was $282,250 in September 2024, up 4.7% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$220K
N/A
2 $252K$265K
+5.2%
3 $261.3K$281.3K
+7.7%
4 $329.9K$360K
+9.1%
5+ $272.5K$344.7K
+26.5%

Summary: Romeoville housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 26.5%.

Median Sold Price Compared To Nearby Cities

Bolingbrook
+11.9%
Du Page Township
+9.7%
Lockport Township
+6.0%
Plainfield Township
+5.9%
Romeoville
+4.7%

Housing Supply in Romeoville, IL

How many homes are available in Romeoville, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
126119-5.6%

Summary: The Romeoville real estate market had 119 homes for sale in September 2024, a 5.6% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 2728
+3.7%
3 7868
-12.8%
4 2021
+5.0%
5+ 12
+100.0%

Summary: The Romeoville housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.7%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
4743-8.5%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

21 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. 48.8% of homes here sold above asking price last month.

Summary: A total of 43 homes were sold or pending in Romeoville in September 2024, down by 8.5% month-over-month. Of the 43 sold homes, 33% were sold under asking, 19% were sold at asking, and 49% 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

Sep 2023Sep 2024CHANGE
19 Days22 Days+17.6%

Summary: Homes in Romeoville had an average of 22 days on market in Sep 2024, up by 17.6% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 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 September 2024, 43 homes were sold in Romeoville; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% 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 30 Days Ago

Newest Listings in Romeoville, IL

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