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Riverside home prices fall in March 2017

Real Estate

By West Cook News | Apr 7, 2017

Re 6

The median sale price of a home sold in March 2017 in Riverside fell by $162,500 while total sales increased by 114.3%, according to BlockShopper.com.

In March 2017, there were 15 homes sold, with a median sale price of $262,500 - a 38.2% decrease over the $425,000 median sale price for the same period of the previous year. There were seven homes sold in Riverside in March 2016.

The median sales tax in Riverside for 2017 was $9,563. In 2016, the median sales tax was $9,060. This marks an increase of 5.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 3.6%.

The following table compares Riverside to other Cook County cities with similar median sales prices in March 2017:

City
Mar. 2017 Home Sales
Mar. 2016 Home Sales
% change (Total Home Sales)
Mar. 2017 Median Sales Price
Mar. 2016 Median Sales Price
% change (Median Sales Price)
Morton Grove
30
29
3.4%
$281,250
$250,000
12.5%
Skokie
67
51
31.4%
$280,000
$270,000
3.7%
Lemont
24
18
33.3%
$275,250
$293,250
-6.1%
Palos Heights
17
18
-5.6%
$275,000
$222,500
23.6%
Evanston
79
55
43.6%
$275,000
$250,000
10%
Riverside
15
7
114.3%
$262,500
$425,000
-38.2%
Northfield
5
4
25%
$250,000
$438,750
-43%
Norridge
24
16
50%
$247,500
$269,750
-8.2%
Glenbrook Countryside
1
2
-50%
$243,500
$301,500
-19.2%
Prospect Heights
15
12
25%
$240,000
$302,500
-20.7%
Orland Park
92
62
48.4%
$240,000
$220,500
8.8%

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