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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River North is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, River North was a Seller's Market.

Key Takeaway

River North 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 River North, IL

How much do homes in River North, IL cost?

Median Sold Price

$425,876

$377/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,575(+3.3%)

Key Takeaway

Homes in River North have sold for 3.3% more than they did a year ago.

Summary: The median home sold price in River North was $425,876 in November 2024, up 3.3% from last year, and the median price per square foot was $377.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $301.3K$305K
+1.2%
2 $463.7K$465K
0.3%
3 $970K$960K
-1.0%
4 $1.4M$1.4M
+3.1%
5+ $1.7M$2.5M
+47.8%

Summary: River North housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 47.8%.

Median Sold Price Compared To Nearby Neighborhoods

Magnificent Mile
+5.0%
Near North Side
+4.0%
River North
+3.3%
Rush & Division
0.3%

Housing Supply in River North, IL

How many homes are available in River North, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
395397+0.5%

Summary: The River North real estate market had 397 homes for sale in November 2024, a 0.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 135135
0.0%
2 152155
+2.0%
3 8683
-3.5%
4 1615
-6.3%
5+ 69
+50.0%

Summary: The River North 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 2%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
7063-10.0%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in River North, you may be able to get a good deal. 52.4% of homes here sold below asking price last month.

Summary: A total of 63 homes were sold or pending in River North in November 2024, down by 10.0% month-over-month. Of the 63 sold homes, 52% were sold under asking, 13% were sold at asking, and 35% were sold over asking.

Days on Market for River North, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
48 Days35 Days-27.0%

Summary: Homes in River North had an average of 35 days on market in Nov 2024, down by 27% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 63 homes were sold in River North; 67% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 13% 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 18 Days Ago

Newest Listings in River North, IL

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