Is Richland County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richland County is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, Richland County was a Seller's Market.

Key Takeaway

Richland County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Richland County, IL

How much do homes in Richland County, IL cost?

Median Sold Price

$142,500

$18/sqft

Based on all homes sold in December 2024.

Difference Since Last Month

+$87,500(+159.1%)

Key Takeaway

Homes in Richland County have sold for 159.1% more than they did a month ago.

Summary: The median home sold price in Richland County was $142,500 in December 2024, up 159.1% from last month, and the median price per square foot was $18.

Median Sold Price By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 --
N/A
2 $64K$25K
-60.9%
3 $45.8K-
N/A
4 --
N/A
5+ -$260K
N/A

Summary: Richland County housing prices by bedroom type for December 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 60.9%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Counties

Richland County
+159.1%
Wabash County
+77.6%

Housing Supply in Richland County, IL

How many homes are available in Richland County, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1512-20.0%

Summary: The Richland County real estate market had 12 homes for sale in December 2024, a 20.0% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 11
0.0%
2 54
-20.0%
3 64
-33.3%
4 00
0.0%
5+ 33
0.0%

Summary: The Richland County housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richland County, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Richland County in December 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Richland County, IL

How long does it take to sell a home in Richland County, IL?

Average Sale Time

Nov 2024Dec 2024CHANGE
21 Days46 Days+115.6%

Summary: Homes in Richland County had an average of 46 days on market in Dec 2024, up by 115.6% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Richland County has remained consistent over time.

Summary: During December 2024, 2 homes were sold in Richland County; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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 6 Days Ago

Newest Listings in Richland County, IL

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