Riverside IL Real Estate Market Report, December 2014
7 homes sold in Riverside IL
There were 5 single family homes, 1 multi-family building, and 1 townhouse that sold this past month in Riverside IL.
The average sales price for the single family homes sold in the past month was $414,600. The average time on the market was 58 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.
Own a home in Riverside IL? Find out what it's worth here! (Learn more about selling a dated home.)
Least expensive home reported sold in Riverside IL
The least expensive home reported sold this past month in Riverside was a 3 bedroom, 1.5 bath brick home on a massive 90 x 235 foot lot on Downing Road. It was marketed as a tear-down and sold for $212,500, in just 1 day on the market.
The buyer, a builder, has just re-listed it as a build-to-suit home for $979,200. The listing indicates that the builder has several different house plans the buyer can choose from and completely customize their dream home. See more info here!
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 $583,000 after 73 days on the market with an original asking price of $589,000. Sitting on a large, gorgeously landscaped lot, this home had 3 large bedrooms and 2.5 baths. Per the MLS, this home's features included hardwood floors & trim, hardwood floors, finished basement, master suite with spa bath, and a screened porch overlooking the yard.
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 5 bedroom, 2.5 bath 2-story home that was built in 1919 and had been a part of the Johnson Dairy. It looks nicely updated on the interior. Sitting on a 50x219 foot lot, I'm sure these new buyers are thrilled with their purchase and got a great deal at $425,000 (listed for $469,000).
Foreclosures & Short Sales in Riverside IL
None of the homes sold this past month in Riverside were short sales or foreclosures.
Today there are 3 foreclosed homes 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 52 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 16 new listings (3 condos and 13 single family homes) to hit the MLS this past month in Riverside IL, ranging from $57,900 - $979,200. See details on all of the homes for sale in Riverside here!
This Month's Hot New Listing in Riverside IL
The best deal in my opinion of this month's new listings is a gracious Victorian home on Stanley Avenue with 6 bedrooms, 3.5 baths. In need of repairs and updates throughout, the potential is limitless. It sits on a 150 x 266 foot lot near the Des Plaines River. It's a foreclosure and has been on the market for 8 days at $545,000. See all pics & details here!
Looking Forward...
2 condos and 6 single family homes were reported as going Under Contract (contingent/pending) this past month in Riverside IL. Currently there are 18 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 December 15, 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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