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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richmond Township is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Richmond Township has remained a Seller's Market.

Key Takeaway

Richmond Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Richmond Township, IL

How much do homes in Richmond Township, IL cost?

Median Sold Price

$375,500

$167/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$3,750(+1.0%)

Key Takeaway

Homes in Richmond Township have sold for 1% more than they did a year ago.

Summary: The median home sold price in Richmond Township was $375,500 in November 2024, up 1% from last year, and the median price per square foot was $167.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $103.7K$122K
+17.6%
2 $134K$155K
+15.7%
3 $369K$380K
+3.0%
4 $401.2K$440K
+9.7%
5+ $460K$424.9K
-7.6%

Summary: Richmond Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 7.6%.

Median Sold Price Compared To Nearby Cities

Burton Township
+15.2%
Spring Grove
+10.4%
Genoa City
+7.9%
Richmond Township
+1.0%
Richmond
-7.2%

Housing Supply in Richmond Township, IL

How many homes are available in Richmond Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2729+7.4%

Summary: The Richmond Township real estate market had 29 homes for sale in November 2024, a 7.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 11
0.0%
3 1414
0.0%
4 77
0.0%
5+ 35
+66.7%

Summary: The Richmond 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
770.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richmond Township, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Richmond Township in November 2024, the same as the previous month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Richmond Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
49 Days73 Days+48.4%

Summary: Homes in Richmond Township had an average of 73 days on market in Nov 2024, up by 48.4% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 7 homes were sold in Richmond Township; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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 Richmond Township, IL

Nearby Markets to Richmond Township, IL

What housing markets are near Richmond Township, IL?