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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River West is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in River West, IL

How much do homes in River West, IL cost?

Median Sold Price

$520,500

$333/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since October 2023.

Key Takeaway

The sold price of homes in River West has remained the same since last year.

Summary: The median home sold price in River West was $520,500 in October 2024, the same as last year, and the median price per square foot was $333.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $269K$331.2K
+23.1%
2 $484K$479K
-1.0%
3 $630K$655K
+4.0%
4 $795K$1.1M
+38.4%
5+ -$1.6M
N/A

Summary: River West housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.1%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 38.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Noble Square
+15.1%
West Town
+6.8%
Fulton River District
+4.6%
River West
0.0%
River North
-0.5%

Housing Supply in River West, IL

How many homes are available in River West, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1524+60.0%

Summary: The River West real estate market had 24 homes for sale in October 2024, a 60.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 24
+100.0%
2 56
+20.0%
3 713
+85.7%
4 11
0.0%
5+ 00
0.0%

Summary: The River West housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 85.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
550.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in River West, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in River West in October 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.

Days on Market for River West, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
8 Days12 Days+55.0%

Summary: Homes in River West had an average of 12 days on market in Oct 2024, up by 55% compared to last year.

Breakdown of Home Sale Times

5 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 River West are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in River West; 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 14 Days Ago

Newest Listings in River West, IL

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