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Mottl Cindy's Blog

By Cindy Valek Mottl | Broker in Downers Grove, IL

March Real Estate Market Conditions for Riverside, IL

For those of you following the town of Riverside for fun, I recommend a Facebook page called I Grew Up in Riverside, IL.  Looking for updates on the real estate market in Riverside?  Right here.  These statistics compare March of 2013 with March of 2012, detached single family homes only and the stats come from MRED LLC, the area MLS.  The median sale price for March of 2013 is down by 13.4% from March of 2012 to $355,000.  Before panic sets in, remember that we are comparing numbers from just one month and that the price will jump around a bit based on the type of property sold in that month as well as the numbers of properties sold.  In March of 2013, only 7 sales were closed, up 40% from 5 in 2012.  SMALL numbers.  As of March 31 there were  65 homes on the market, down 19.8% from last year.  There were 27 new listings, down 18.2%, and the inventory is at 7.7 months supply, down 32.5% from 2012.  All these numbers indicate a move toward a balanced market in Riverside.  The percentage of sale price to original list price has risen 8.9% to 89.6%.  This is another positive indicator for the market in Riverside.  Get out and shop - the large supply of houses is gone.
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