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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Richwoods Township is a buyer's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Richwoods Township, IL

How much do homes in Richwoods Township, IL cost?

Median Sold Price

$114,450

$101/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$5,550(-4.6%)

Key Takeaway

Homes in Richwoods Township have sold for 4.6% less than they did a year ago.

Summary: The median home sold price in Richwoods Township was $114,450 in November 2024, down 4.6% from last year, and the median price per square foot was $101.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $65K$45.2K
-30.5%
2 $95.2K$94.4K
-0.8%
3 $124.2K$119.9K
-3.5%
4 $159K$174.9K
+10.0%
5+ $494.5K$589.5K
+19.2%

Summary: Richwoods Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.5%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 19.2%.

Median Sold Price Compared To Nearby Cities

Peoria City Township
+11.2%
Peoria
+9.5%
Richwoods Township
-4.6%
Peoria Heights
-5.0%
Peoria Heights
-6.2%

Housing Supply in Richwoods Township, IL

How many homes are available in Richwoods Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2218-18.2%

Summary: The Richwoods Township real estate market had 18 homes for sale in November 2024, a 18.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 149
-35.7%
3 67
+16.7%
4 00
0.0%
5+ 22
0.0%

Summary: The Richwoods 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 35.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
81-87.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Richwoods Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Richwoods Township in November 2024, down by 87.5% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Richwoods Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
20 Days18 Days-10.6%

Summary: Homes in Richwoods Township had an average of 18 days on market in Nov 2024, down by 10.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 1 homes were sold in Richwoods Township; 100% of homes were sold within 30 days, 0% 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 17 Days Ago

Newest Listings in Richwoods Township, IL

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