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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River Forest Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in River Forest Township, IL

How much do homes in River Forest Township, IL cost?

Median Sold Price

$575,000

$255/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$78,000(+15.7%)

Key Takeaway

Homes in River Forest Township have sold for 15.7% more than they did a year ago.

Summary: The median home sold price in River Forest Township was $575,000 in October 2024, up 15.7% from last year, and the median price per square foot was $255.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $112.2K$145.2K
+29.4%
2 $250K$190K
-24.0%
3 $525K$547.5K
+4.3%
4 $875K$967.5K
+10.6%
5+ $1.0M$1.3M
+22.5%

Summary: River Forest Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.4%, 2 bedroom homes decreased by 24%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 22.5%.

Median Sold Price Compared To Nearby Cities

Oak Park Township
+15.8%
River Forest Township
+15.7%
River Forest
+15.7%
Oak Park
+15.7%
Maywood
+4.6%

Housing Supply in River Forest Township, IL

How many homes are available in River Forest Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4250+19.0%

Summary: The River Forest Township real estate market had 50 homes for sale in October 2024, a 19.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 54
-20.0%
2 1412
-14.3%
3 914
+55.6%
4 1013
+30.0%
5+ 47
+75.0%

Summary: The River Forest Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
139-30.8%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in River Forest Township, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in River Forest Township in October 2024, down by 30.8% month-over-month. Of the 9 sold homes, 44% were sold under asking, 0% were sold at asking, and 56% were sold over asking.

Days on Market for River Forest Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days18 Days-29.6%

Summary: Homes in River Forest Township had an average of 18 days on market in Oct 2024, down by 29.6% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 9 homes were sold in River Forest Township; 78% of homes were sold within 30 days, 22% 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 20 Days Ago

Newest Listings in River Forest Township, IL

Nearby Markets to River Forest Township, IL

What housing markets are near River Forest Township, IL?