14 homes sold in River Forest IL
There were 4 condos and 10 single family homes reported as sold within the last month in River Forest IL.
The average sales price for the single family homes sold this month was $662,815.
The median sales price for the single family homes sold this month was $593,500.
The average time on the market was 111 days.
Because these statistics are for only one month and for all of River Forest, it may not tell you what is possible for a specific home.
These are just the general market statistics of what happened last month in River Forest IL real estate.
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Least expensive home reported sold in River Forest IL
The least expensive home reported sold this past month in River Forest was a 1072 sq ft, 2 bedroom, 1 bath aluminum-sided bungalow on a 44x182 foot lot at the southern end of town. It sold for $260,000 after being on the market for 101 days with an original asking price of $324,000.
Located in the 60305 zip code and the Lincoln Elementary, Roosevelt Jr High, and Oak Park-River Forest High School districts per MLS info.
It was sold as-is in need of updates, but was not a foreclosure. If the current owners make smart upgrades (including maybe a 2nd floor or rear addition?), they'll be sure to cash in when they go to sell, given the high average selling price for the neighborhood.
Most expensive home reported sold in River Forest IL
The most expensive home reported sold this past month in River Forest was a 3249 sq ft, 3 bedroom, 4.5 bath Mediterranean style estate on a 100x185 foot lot at the northern end of town. It sold for $1,300,000 after being on the market for over a year with an original asking price of $1,553,000.
Per the MLS, it had elegant curb appeal and a grand interior. Although it didn't have many bedrooms, it had plenty of living space with oversized rooms including formal living & dining rooms, first floor family room & den, eat-in kitchen, and finished basement complete with a huge rec-room and bar. Although it sold for a hefty price, I'm guessing the buyers might choose to make some additional updates throughout the home.
Sold Deal Of The Month in River Forest IL
In my opinion, the best deal of the homes sold this past month was a professionally renovated 3 bedroom, 2 bath stucco home near Harlem & Chicago Avenues. It looks absolutely gorgeous with a modern open floorplan, large gourmet kitchen with breakfast bar & carrera marble counters that perfectly complement the white & grey cabinetry.
Unfortunately, it was scooped up before even coming on the MLS or was being marketed privately by the listing agent, who acted as both seller & buyer's agent in this transaction. Looks like the buyers got a steal of a deal at $637,000 (listed for $649,000).
Foreclosures & Short Sales in River Forest IL
None of the homes sold this past month in River Forest were short sales or foreclosures.
Today there are 2 foreclosed homes for sale in River Forest IL and 2 homes listed as a short sale in River Forest IL.
Inventory & Absorption Rate in River Forest IL
Today there are 61 single family homes for sale in River Forest IL. If homes in River Forest continue to sell at the same pace and no more homes hit the market, it will take 6 months to sell all the available homes. This statistic is for all homes in River Forest and based only on this month's activity. Most people consider a housing market healthy if there is a less than 6 months' supply of inventory, so we're in a balanced housing market, neither favoring buyers nor sellers.
New Listings in River Forest IL
There were 10 new listings to hit the MLS this month in River Forest IL, 4 of which have already gone under contract!
This Month's Hot New Listing in River Forest IL
The best deal in my opinion of this month's new listings is a brick bungalow with 4 bedrooms and 3 baths south of the Metra tracks and walking distance to the many bars & restaurants of downtown Forest Park. It needs some updating but is a great buy at $399,000 -- well under the average selling price for the neighborhood. Pics & details here!
Looking Forward...
8 single family homes were reported as going Under Contract (contingent/pending) this past month in River Forest IL. Currently there are 21 properties in total that are Under Contract in River Forest.
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The Fine Print: This report covers what happened for the month ending October 27, 2014 based on info from the MRED LLC multiple listing service (MLS). As always, there may have been more closings that may not have been reported to MRED as of today's posting as well as other closings that took place outside of the MLS. All data has been compiled from the MRED MLS by Laurie Christofano, Realtor with The Pych Team @ RE/MAX In The Village.
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