Is Richton Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Richton Park was a Seller's Market.
Housing Prices in Richton Park, IL
How much do homes in Richton Park, IL cost?
Median Sold Price
$194,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Richton Park was $194,000 in May 2024, up 6% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $50.5K | $49K | -3.0% |
2 Bedrooms | $100K | $104.5K | +4.5% |
3 Bedrooms | $187.5K | $180K | -4.0% |
4 Bedrooms | $249K | $285K | +14.5% |
5+ Bedrooms | $350.5K | $320K | -8.7% |
Summary: Richton Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 4.5%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes decreased by 8.7%.
Median Sold Price Compared To Nearby Cities
Richton Park | $183K | $194K | +6.0% |
Park Forest | $140K | $140.7K | 0.5% |
University Park | $175K | $175K | 0.0% |
Matteson | $240K | $234.9K | -2.1% |
Rich Township | $207.9K | $198K | -4.8% |
Housing Supply in Richton Park, IL
How many homes are available in Richton Park, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 54 | +8.0% |
Summary: The Richton Park real estate market had 54 homes for sale in May 2024, a 8.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 7 | 9 | +28.6% |
3 Bedrooms | 31 | 33 | +6.5% |
4 Bedrooms | 11 | 12 | +9.1% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Richton Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 7 | -56.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Richton Park in May 2024, down by 56.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Richton Park, IL
How long does it take to sell a home in Richton Park, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 54 Days | +238.9% |
Summary: Homes in Richton Park had an average of 54 days on market in May 2024, up by 238.9% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Richton Park; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.