Is Richton Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richton Park is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Richton Park has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Richton Park, IL

How much do homes in Richton Park, IL cost?

Median Sold Price

$185,000

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$10,000(-5.1%)

Key Takeaway

Homes in Richton Park have sold for 5.1% less than they did a year ago.

Summary: The median home sold price in Richton Park was $185,000 in October 2024, down 5.1% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $50.5K$55.5K
+9.9%
2 $120K$108K
-10.0%
3 $187.5K$190K
+1.3%
4 $270K$287K
+6.3%
5+ $345K$330K
-4.3%

Summary: Richton Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.9%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 4.3%.

Median Sold Price Compared To Nearby Cities

Matteson
+6.5%
University Park
+5.4%
Park Forest
+2.1%
Rich Township
+1.8%
Richton Park
-5.1%

Housing Supply in Richton Park, IL

How many homes are available in Richton Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4955+12.2%

Summary: The Richton Park real estate market had 55 homes for sale in October 2024, a 12.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 3233
+3.1%
4 1215
+25.0%
5+ 12
+100.0%

Summary: The Richton Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
810+25.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 10 homes were sold or pending in Richton Park in October 2024, up by 25.0% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.

Days on Market for Richton Park, IL

How long does it take to sell a home in Richton Park, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
60 Days77 Days+28.5%

Summary: Homes in Richton Park had an average of 77 days on market in Oct 2024, up by 28.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 10 homes were sold in Richton Park; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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 20 Days Ago

Newest Listings in Richton Park, IL

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