Is Rich Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rich Township is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Rich Township was a Seller's Market.

Key Takeaway

Rich Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Rich Township, IL

How much do homes in Rich Township, IL cost?

Median Sold Price

$210,050

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$6,930(+3.4%)

Key Takeaway

Homes in Rich Township have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in Rich Township was $210,050 in November 2024, up 3.4% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $64.5K$105K
+62.8%
2 $149K$155K
+4.0%
3 $189.9K$190.6K
0.4%
4 $262K$278.9K
+6.5%
5+ $387K$415K
+7.2%

Summary: Rich Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 62.8%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 7.2%.

Median Sold Price Compared To Nearby Cities

Flossmoor
+11.7%
Matteson
+7.6%
Olympia Fields
+7.5%
Rich Township
+3.4%
Country Club Hills
+3.2%

Housing Supply in Rich Township, IL

How many homes are available in Rich Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
438462+5.5%

Summary: The Rich Township real estate market had 462 homes for sale in November 2024, a 5.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 7972
-8.9%
3 196203
+3.6%
4 135148
+9.6%
5+ 2738
+40.7%

Summary: The Rich Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 40.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
8965-27.0%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rich Township, you may be able to get a good deal. 55.4% of homes here sold below asking price last month.

Summary: A total of 65 homes were sold or pending in Rich Township in November 2024, down by 27.0% month-over-month. Of the 65 sold homes, 55% were sold under asking, 23% were sold at asking, and 22% were sold over asking.

Days on Market for Rich Township, IL

How long does it take to sell a home in Rich Township, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
28 Days41 Days+48.3%

Summary: Homes in Rich Township had an average of 41 days on market in Nov 2024, up by 48.3% compared to last year.

Breakdown of Home Sale Times

40 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rich Township are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 65 homes were sold in Rich Township; 62% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% 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 17 Days Ago

Newest Listings in Rich Township, IL

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