Riverside saw an increase in its single family home sales in 2014

Share on Facebook
Share on Twitter
Print

By Maria Murzyn

Sales of three-bedroom homes were up 5% in 2014 when compared to those in this category in 2013.  The median sales price was $350,000 versus $333,500 in the prior year with 57 homes sold in 2014 and only 44 in 2013.   

Four-bedroom homes did even better with a 10% increase in median sales dollars, $459,000 versus $415,900 in 2013.  It seems that this high percentage of increase is because it took only 28 home sales to reach this amount while 43 homes in this category contributed to the 2013 median sales price figure.  Not as many homes sold but for a lot more dollars.

Regarding the sales of even larger homes, five – five+ bedrooms didn't fare as well in the median price year-to-year comparison, down 2.5%, $548,250 in 2014 versus $562,500 in 2013 when compared to the smaller sized homes.  

Overall, Riverside saw sales increases in three-bedroom homes, four-bedroom homes, and only a small decrease in the larger sized category of five or more bedrooms.  All in all, Riverside ended 2014 in a strong position which may continue throughout the 2015 sales cycle.   Let's see if more sellers put their homes on the market for the upcoming Spring sales cycle. 

 

57 three-bedroom, single family homes Sold in 2014

 

High

Low

Average

Median

List Price

$595,000

$165,000

$370,363

$384,900

Sold Price

$583,000

$138,000

$348,472

$350,000

 

44 three-bedroom, single family homes Sold in 2013

 

High

Low

Average

Median

List Price

$559,000

$79,000

$346,074

$352,000

Sold Price

$515,000

$65,000

$325,554

$333,500

 

28 four-bedroom, single family homes Sold in 2014

 

High

Low

Average

Median

List Price

$990,000

$139,000

$511,457

$472,000

Sold Price

$940,000

$145,000

$491,125

$459,000

 

43 four-bedroom, single family homes Sold in 2013

 

High

Low

Average

Median

List Price

$920,000

$90,000

$458,853

$439,000

Sold Price

$920,000

$150,000

$436,316

$415,900

 

6 five – five bedroom, single family homes Sold in 2014

 

High

Low

Average

Median

List Price

$779,000

$390,000

$580,500

$573,000

Sold Price

$732,000

$325,000

$542,250

$548,250

 

11 five – five bedroom, single family homes Sold in 2013

 

High

Low

Average

Median

List Price

$899,000

$179,900

$536,982

$598,000

Sold Price

$795,000

$210,000

$503,844

$562,500

 

Note:  "Median Sales Price" is the midpoint between the High price and the Low price and is not the same as the "Average Sales Price".  Since a few high prices or low prices can skew the "Average Price", the real estate industry places more credibility on the "Median Price" to indicate a specific area's home values within a specified timeframe.

All data is taken from MRED, Midwest Real Estate Data and was formerly known as the MLS, Multiple Listing Service.  It is the source of all real estate activity in our area.

Maria Murzyn is an employee of Wednesday Journal Publications and a Realtor at Gloor Realty Co. in Oak Park.

 

Contact:
Email: mmurzyn@wjinc.com

Love the Landmark?

Become our partner in independent community journalism

Thanks for turning to Riverside Brookfield Landmark and RBLandmark.com. We love our thousands of digital-only readers. Now though we're asking you to partner up in paying for our reporters and photographers who report this news. It had to happen, right?

On the plus side, we're giving you a simple way, and a better reason, to join in. We're now a non-profit -- Growing Community Media -- so your donation is tax deductible. And signing up for a monthly donation, or making a one-time donation, is fast and easy.

No threats from us. The news will be here. No paywalls or article countdowns. We're counting on an exquisite mix of civic enlightenment and mild shaming. Sort of like public radio.

Claim your bragging rights. Become a digital member.

Donate Now

Reader Comments

No Comments - Add Your Comment

Note: This page requires you to login with Facebook to comment.

Comment Policy

Facebook Connect

Quick Links

Sign-up to get the latest news updates for Riverside and Brookfield.


            
SubscribeClassified
MultimediaContact us
Submit Letter To The Editor
Place a Classified Ad