Riverside IL Real Estate Market Report, November 7, 2014
9 homes sold in Riverside IL
There were 7 single family homes and 2 condos / townhomes sold this past month in Riverside IL.
The average sales price for the single family homes sold in the past month was $344,937.
The average time on the market was 104 days.
Because these statistics are only for one month and for all of Riverside, it may not tell you what is possible for a specific home.
These are just the general market statistics of what happened in the last month in Riverside IL real estate.
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Least expensive home reported sold in Riverside IL
The least expensive home reported sold this past month in Riverside was a 2 bedroom, 1 bath brick ranch home on an approximately 50 x 180 foot lot on Northgate Road backing up to 26th St. It sold for full price, $219,000, in just 4 days with the sellers contributing $3,000 toward the buyers' closing costs.
Located in the 60546 zip code and the Ames Elementary, Hauser Jr High, and Riverside-Brookfield High School districts per MLS info.
It was sold as-is in need of updates. It had an eat-in kitchen and basement with a finished rec room, and the listing also mentioned that the attic could be finished for extra living space.
Most expensive home reported sold in Riverside IL
The most expensive home reported sold this past month in Riverside was a 2-story brick English style home. It sold for $570,000 after 4 months on the market with an original asking price of $649,900. Sitting on an approximately 60 x 130 foot lot, this home boasted 3194 sq ft of living space, 4 large bedrooms and 2.5 baths.
Per the MLS, this home's features included hardwood floors & trim, a huge kitchen with an adjoining breakfast room, first floor family room, first floor laundry, master suite, finished basement, screened porch & zoned HVAC.
Sold Deal Of The Month in Riverside IL
In my opinion, the best deal of the homes sold this past month in Riverside was a 4 bedroom, 3 bath 2-story home that was built for the 1933 Century of Progress World's Fair. It looks completely updated on the interior and features include a sun-drenched open floor plan with the kitchen & its breakfast bar overlooking the dining & living rooms. The first floor family room opens to the deck and lovely yard. Sitting on a 50x150 foot lot, I'm sure these new buyers are thrilled with their purchase.
Foreclosures & Short Sales in Riverside IL
None of the homes sold this past month in Riverside were short sales or foreclosures.
Today there are 1 foreclosed home for sale in Riverside IL and 1 home listed as a short sale in Riverside IL.
Inventory & Absorption Rate in Riverside IL
Today there are 55 single family homes for sale in Riverside IL. If homes in Riverside 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 Riverside 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 are in a balanced housing market where neither seller nor buyer is favored.
New Listings in Riverside IL
There were 22 new single family home listings to hit the MLS this past month in Riverside IL, ranging from $126,500 - $1,595,000.
This Month's Hot New Listing in Riverside IL
The best deal in my opinion of this month's new listings is a stucco American Foursquare with 3 bedrooms, 2.5 baths. Updated throughout, this home maintains many of its original features while also appealing to today's buyers. It has an upscale kitchen which is open to the family room & dining room, a finished basement, a large deck out back for entertaining, and it sits on a 50x172 foot lot. It's been on the market for 3 weeks at $469,000. See all pics & details here!
Looking Forward...
12 single family homes were reported as going Under Contract (contingent/pending) this past month in Riverside IL. Currently there are 14 properties in total that are Under Contract in Riverside.
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The Fine Print: This report covers what happened for the month ending November 7, 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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