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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riley Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Riley Township, IL

How much do homes in Riley Township, IL cost?

Median Sold Price

$395,400

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,400(+6.9%)

Key Takeaway

Homes in Riley Township have sold for 6.9% more than they did a year ago.

Summary: The median home sold price in Riley Township was $395,400 in October 2024, up 6.9% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $217.5K-
N/A
2 $204.9K$357.9K
+74.7%
3 $370K$385K
+4.1%
4 $370K$410K
+10.8%
5+ $422K$367K
-13.0%

Summary: Riley Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 74.7%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 13%.

Median Sold Price Compared To Nearby Cities

Marengo Township
+30.9%
Marengo
+30.7%
Riley Township
+6.9%

Housing Supply in Riley Township, IL

How many homes are available in Riley Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1815-16.7%

Summary: The Riley Township real estate market had 15 homes for sale in October 2024, a 16.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 44
0.0%
3 78
+14.3%
4 62
-66.7%
5+ 11
0.0%

Summary: The Riley Township 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 remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
63-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riley Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Riley Township in October 2024, down by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.

Days on Market for Riley Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days13 Days-38.7%

Summary: Homes in Riley Township had an average of 13 days on market in Oct 2024, down by 38.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were 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 Riley Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in Riley 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 16 Days Ago

Newest Listings in Riley Township, IL

Nearby Markets to Riley Township, IL

What housing markets are near Riley Township, IL?