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 neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

Riley Township 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 Riley Township, IL

How much do homes in Riley Township, IL cost?

Median Sold Price

$395,000

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$25,000(+6.8%)

Key Takeaway

Homes in Riley Township have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in Riley Township was $395,000 in November 2024, up 6.8% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $217.5K-
N/A
2 $224.9K$357.9K
+59.1%
3 $390K$379.8K
-2.6%
4 $370K$410K
+10.8%
5+ $422K$367K
-13.0%

Summary: Riley Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 59.1%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 13%.

Median Sold Price Compared To Nearby Cities

Marengo Township
+26.0%
Marengo
+24.6%
Riley Township
+6.8%

Housing Supply in Riley Township, IL

How many homes are available in Riley Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
13130.0%

Summary: The Riley Township real estate market had 13 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 33
0.0%
3 78
+14.3%
4 21
-50.0%
5+ 11
0.0%

Summary: The Riley 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 increased by 14.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riley Township, 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 Riley Township in November 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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

Nov 2023Nov 2024CHANGE
4 Days38 Days+700.0%

Summary: Homes in Riley Township had an average of 38 days on market in Nov 2024, up by 700% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was 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 November 2024, 2 homes were sold in Riley Township; 50% of homes were sold within 30 days, 50% 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 Riley Township, IL

Nearby Markets to Riley Township, IL

What housing markets are near Riley Township, IL?