Is Rock Island County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rock Island County is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Rock Island County has remained a Seller's Market.

Key Takeaway

Rock Island County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Rock Island County, IL

How much do homes in Rock Island County, IL cost?

Median Sold Price

$147,020

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$10,499(+7.7%)

Key Takeaway

Homes in Rock Island County have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in Rock Island County was $147,020 in May 2024, up 7.7% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $52.7K$61.5K
+16.6%
2 $100.4K$114.9K
+14.4%
3 $147.5K$162.5K
+10.2%
4 $194.9K$197K
+1.0%
5+ $222.5K$276.5K
+24.3%

Summary: Rock Island County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.6%, 2 bedroom homes increased by 14.4%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 24.3%.

Median Sold Price Compared To Nearby Counties

Mercer County
+13.4%
Scott County
+10.0%
Rock Island County
+7.7%
Henry County
-2.0%
Clinton County
-3.1%

Housing Supply in Rock Island County, IL

How many homes are available in Rock Island County, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
392434+10.7%

Summary: The Rock Island County real estate market had 434 homes for sale in May 2024, a 10.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 810
+25.0%
2 112126
+12.5%
3 168183
+8.9%
4 7785
+10.4%
5+ 2730
+11.1%

Summary: The Rock Island County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
95155+63.2%

Asking Price vs. Sold Price

56 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

78 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rock Island County, you could pay more than the asking price. 50.3% of homes here sold above asking price last month.

Summary: A total of 155 homes were sold or pending in Rock Island County in May 2024, up by 63.2% month-over-month. Of the 155 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% were sold over asking.

Days on Market for Rock Island County, IL

How long does it take to sell a home in Rock Island County, IL?

Average Sale Time

May 2023May 2024CHANGE
19 Days25 Days+31.5%

Summary: Homes in Rock Island County had an average of 25 days on market in May 2024, up by 31.5% compared to last year.

Breakdown of Home Sale Times

121 Homes Were Sold
Under 30 Days

24 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rock Island County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 155 homes were sold in Rock Island County; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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