$5,166 Closing Credit*
$435,000
2,039 SqFt
3 Beds
•3 Full Baths
Rebecca Hendricks, Listing Office: The Real Estate Group, Inc.
Is Rochester, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 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
$268,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$28,100(+11.7%)
Key Takeaway
Homes in Rochester have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Rochester was $268,000 in August 2024, up 11.7% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $211.2K | $210K | -0.6% |
| 3 Bedrooms | $235K | $249.5K | +6.2% |
| 4 Bedrooms | $255.9K | $340K | +32.8% |
| 5+ Bedrooms | $556.2K | $387.5K | -30.3% |
Summary: Rochester housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 32.8%, and 5+ bedroom homes decreased by 30.3%.
Median Sold Price Compared To Nearby Cities
| Rochester | $239.9K | $268K | +11.7% |
| Rochester Township | $245K | $272.5K | +11.2% |
Housing Supply in Rochester, IL
How many homes are available in Rochester, IL?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 20 | 13 | -35.0% |
Summary: The Rochester real estate market had 13 homes for sale in August 2024, a 35.0% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 9 | 4 | -55.6% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Rochester housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 55.6%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Rochester in August 2024, down by 45.5% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% 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
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 2 Days | 22 Days | +1000.0% |
Summary: Homes in Rochester had an average of 22 days on market in Aug 2024, up by 1000% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rochester are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 6 homes were sold in Rochester; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.