Is Rochester, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rochester is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Rochester has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Rochester, IL

How much do homes in Rochester, IL cost?

Median Sold Price

$266,500

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$44,000(+19.8%)

Key Takeaway

Homes in Rochester have sold for 19.8% more than they did a year ago.

Summary: The median home sold price in Rochester was $266,500 in April 2024, up 19.8% from last year, and the median price per square foot was $119.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $167K$210K
+25.7%
3 $200K$262.5K
+31.3%
4 $240K$303K
+26.3%
5+ $532.5K-
N/A

Summary: Rochester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Rochester
+19.8%
Rochester Township
+19.6%

Housing Supply in Rochester, IL

How many homes are available in Rochester, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1918-5.3%

Summary: The Rochester real estate market had 18 homes for sale in April 2024, a 5.3% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 76
-14.3%
4 56
+20.0%
5+ 44
0.0%

Summary: The Rochester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
35+66.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rochester, you could pay more than the asking price. 80% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Rochester in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.

Days on Market for Rochester, IL

How long does it take to sell a home in Rochester, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
2 Days6 Days+140.0%

Summary: Homes in Rochester had an average of 6 days on market in Apr 2024, up by 140% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 5 homes were sold in Rochester; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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

Newest Listings in Rochester, IL

Nearby Markets to Rochester, IL