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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riverside Township is a neutral's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

Riverside 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 Riverside Township, IL

How much do homes in Riverside Township, IL cost?

Median Sold Price

$404,000

$250/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$42,750(+11.8%)

Key Takeaway

Homes in Riverside Township have sold for 11.8% more than they did a year ago.

Summary: The median home sold price in Riverside Township was $404,000 in October 2024, up 11.8% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $145K$133.5K
-7.9%
2 $272K$300K
+10.3%
3 $346K$400.6K
+15.8%
4 $555K$660K
+18.9%
5+ $643K$577.5K
-10.2%

Summary: Riverside Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.9%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes decreased by 10.2%.

Median Sold Price Compared To Nearby Cities

Riverside Township
+11.8%
Ellington Township
+11.0%
Quincy Township
+5.9%
Quincy
+5.9%

Housing Supply in Riverside Township, IL

How many homes are available in Riverside Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3653+47.2%

Summary: The Riverside Township real estate market had 53 homes for sale in October 2024, a 47.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 914
+55.6%
3 1422
+57.1%
4 810
+25.0%
5+ 56
+20.0%

Summary: The Riverside Township 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 55.6%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
98-11.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riverside Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Riverside Township in October 2024, down by 11.1% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.

Days on Market for Riverside Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days22 Days-42.3%

Summary: Homes in Riverside Township had an average of 22 days on market in Oct 2024, down by 42.3% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 8 homes were sold in Riverside Township; 75% of homes were sold within 30 days, 13% 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 16 Days Ago

Newest Listings in Riverside Township, IL

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What housing markets are near Riverside Township, IL?