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 April 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

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$23,304(+9.1%)

Key Takeaway

Homes in Romeoville have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Romeoville was $280,000 in April 2024, up 9.1% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$220K
N/A
2 $240K$255K
+6.3%
3 $250.2K$276K
+10.3%
4 $339K$333.5K
-1.6%
5+ $285K$358.5K
+25.8%

Summary: Romeoville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 10.3%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 25.8%.

Median Sold Price Compared To Nearby Cities

Lockport Township
+13.0%
Plainfield Township
+9.9%
Romeoville
+9.1%
Du Page Township
+8.5%
Bolingbrook
+6.3%

Housing Supply in Romeoville, IL

How many homes are available in Romeoville, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
96107+11.5%

Summary: The Romeoville real estate market had 107 homes for sale in April 2024, a 11.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 10
-100.0%
2 1817
-5.6%
3 5265
+25.0%
4 2424
0.0%
5+ 11
0.0%

Summary: The Romeoville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 5.6%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
32320.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

14 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. 43.8% of homes here sold above asking price last month.

Summary: A total of 32 homes were sold or pending in Romeoville in April 2024, the same as the previous month. Of the 32 sold homes, 41% were sold under asking, 16% were sold at asking, and 44% 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

Apr 2023Apr 2024CHANGE
25 Days20 Days-21.4%

Summary: Homes in Romeoville had an average of 20 days on market in Apr 2024, down by 21.4% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

5 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 April 2024, 32 homes were sold in Romeoville; 78% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 6% 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

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