Is Riverside, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Riverside was a Seller's Market.
Housing Prices in Riverside, IL
How much do homes in Riverside, IL cost?
Median Sold Price
$380,000
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Riverside was $380,000 in May 2024, down 1.3% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110.5K | $132.2K | +19.7% |
2 Bedrooms | $260K | $300K | +15.4% |
3 Bedrooms | $417.5K | $357.5K | -14.4% |
4 Bedrooms | $599.9K | $639K | +6.5% |
5+ Bedrooms | $560K | $616.5K | +10.1% |
Summary: Riverside housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.7%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 14.4%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Cities
Berwyn | $294.7K | $325.7K | +10.5% |
Riverside Township | $358K | $393K | +9.8% |
North Riverside | $303.2K | $329K | +8.5% |
Lyons | $243K | $250K | +2.9% |
Riverside | $385K | $380K | -1.3% |
Housing Supply in Riverside, IL
How many homes are available in Riverside, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
57 | 61 | +7.0% |
Summary: The Riverside real estate market had 61 homes for sale in May 2024, a 7.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 14 | 11 | -21.4% |
3 Bedrooms | 24 | 22 | -8.3% |
4 Bedrooms | 11 | 19 | +72.7% |
5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Riverside housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 21.4%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 72.7%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
21 | 9 | -57.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Riverside in May 2024, down by 57.1% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and 67% were sold over asking.
Days on Market for Riverside, IL
How long does it take to sell a home in Riverside, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 7 Days | -37.2% |
Summary: Homes in Riverside had an average of 7 days on market in May 2024, down by 37.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Riverside; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.