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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River Grove is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in River Grove, IL

How much do homes in River Grove, IL cost?

Median Sold Price

$301,000

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$41,000(+15.8%)

Key Takeaway

Homes in River Grove have sold for 15.8% more than they did a year ago.

Summary: The median home sold price in River Grove was $301,000 in November 2024, up 15.8% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $120K$155.4K
+29.5%
2 $200K$230.5K
+15.3%
3 $302K$339.9K
+12.5%
4 $363K$349.5K
-3.7%
5+ $472.5K$515K
+9.0%

Summary: River Grove housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.5%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 9%.

Median Sold Price Compared To Nearby Cities

River Grove
+15.8%
Elmwood Park
+7.7%
Leyden Township
+6.5%
Melrose Park
+6.4%
Franklin Park
+6.2%

Housing Supply in River Grove, IL

How many homes are available in River Grove, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2527+8.0%

Summary: The River Grove real estate market had 27 homes for sale in November 2024, a 8.0% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 67
+16.7%
3 109
-10.0%
4 44
0.0%
5+ 46
+50.0%

Summary: The River Grove 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 increased by 16.7%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
75-28.6%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in River Grove, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in River Grove in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.

Days on Market for River Grove, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
16 Days10 Days-34.5%

Summary: Homes in River Grove had an average of 10 days on market in Nov 2024, down by 34.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were 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 River Grove are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 5 homes were sold in River Grove; 80% of homes were sold within 30 days, 20% 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 22 Days Ago

Newest Listings in River Grove, IL

Nearby Markets to River Grove, IL

What housing markets are near River Grove, IL?