Is Romeoville, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Romeoville is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Romeoville, IL

How much do homes in Romeoville, IL cost?

Median Sold Price

$285,000

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$10,000(+3.6%)

Key Takeaway

Homes in Romeoville have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in Romeoville was $285,000 in November 2024, up 3.6% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$220K
N/A
2 $256.5K$269K
+4.9%
3 $265.5K$283.7K
+6.9%
4 $326K$366K
+12.3%
5+ $357K$336.2K
-5.8%

Summary: Romeoville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes decreased by 5.8%.

Median Sold Price Compared To Nearby Cities

Bolingbrook
+12.5%
Du Page Township
+9.0%
Plainfield Township
+5.6%
Lockport Township
+5.5%
Romeoville
+3.6%

Housing Supply in Romeoville, IL

How many homes are available in Romeoville, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
10491-12.5%

Summary: The Romeoville real estate market had 91 homes for sale in November 2024, a 12.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 2419
-20.8%
3 5944
-25.4%
4 2024
+20.0%
5+ 14
+300.0%

Summary: The Romeoville 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 decreased by 20.8%, 3 bedroom homes decreased by 25.4%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 300%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3923-41.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Romeoville, you may be able to get a good deal. 34.8% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Romeoville in November 2024, down by 41.0% month-over-month. Of the 23 sold homes, 35% were sold under asking, 30% were sold at asking, and 35% were sold over asking.

Days on Market for Romeoville, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
16 Days20 Days+25.3%

Summary: Homes in Romeoville had an average of 20 days on market in Nov 2024, up by 25.3% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 23 homes were sold in Romeoville; 74% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% 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 21 Days Ago

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