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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rochester Township is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Rochester Township was a Seller's Market.

Key Takeaway

Rochester Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Rochester Township, IL

How much do homes in Rochester Township, IL cost?

Median Sold Price

$260,000

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$30,000(+13.0%)

Key Takeaway

Homes in Rochester Township have sold for 13% more than they did a year ago.

Summary: The median home sold price in Rochester Township was $260,000 in March 2024, up 13% from last year, and the median price per square foot was $119.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $167K$240K
+43.7%
3 $200K$250K
+25.0%
4 $261.5K$337.5K
+29.1%
5+ $435K$440K
+1.1%

Summary: Rochester Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 43.7%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 29.1%, and 5+ bedroom homes increased by 1.1%.

Median Sold Price Compared To Nearby Cities

Rochester
+16.8%
Rochester Township
+13.0%
Capital Township
+9.9%
Springfield
+7.4%
Woodside Township
+2.7%

Housing Supply in Rochester Township, IL

How many homes are available in Rochester Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1218+50.0%

Summary: The Rochester Township real estate market had 18 homes for sale in March 2024, a 50.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 47
+75.0%
4 44
0.0%
5+ 24
+100.0%

Summary: The Rochester Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 75%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
330.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rochester Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Rochester Township in March 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Rochester Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
4 Days22 Days+410.0%

Summary: Homes in Rochester Township had an average of 22 days on market in Mar 2024, up by 410% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 3 homes were sold in Rochester Township; 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.

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

Report Updated 25 Days Ago

Newest Listings in Rochester Township, IL

Nearby Markets to Rochester Township, IL

What housing markets are near Rochester Township, IL?