Is River Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, River Grove has remained a Seller's Market.
Housing Prices in River Grove, IL
How much do homes in River Grove, IL cost?
Median Sold Price
$275,000
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in River Grove was $275,000 in May 2024, up 5.8% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $135K | +8.0% |
2 Bedrooms | $230K | $200K | -13.0% |
3 Bedrooms | $295K | $313.7K | +6.4% |
4 Bedrooms | $302.5K | $378K | +25.0% |
5+ Bedrooms | $545K | $496.2K | -8.9% |
Summary: River Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 8.9%.
Median Sold Price Compared To Nearby Cities
Franklin Park | $275K | $310K | +12.7% |
Elmwood Park | $315K | $354.2K | +12.5% |
Leyden Township | $283.4K | $308.6K | +8.9% |
River Grove | $260K | $275K | +5.8% |
Melrose Park | $290K | $300K | +3.4% |
Housing Supply in River Grove, IL
How many homes are available in River Grove, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
28 | 27 | -3.6% |
Summary: The River Grove real estate market had 27 homes for sale in May 2024, a 3.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 8 | 7 | -12.5% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The River Grove 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 decreased by 16.7%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 11 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in River Grove in May 2024, the same as the previous month. Of the 11 sold homes, 36% were sold under asking, 27% were sold at asking, and 36% were sold over asking.
Days on Market for River Grove, IL
How long does it take to sell a home in River Grove, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
64 Days | 33 Days | -47.8% |
Summary: Homes in River Grove had an average of 33 days on market in May 2024, down by 47.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in River Grove; 91% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.