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 seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Rochester Township, IL

How much do homes in Rochester Township, IL cost?

Median Sold Price

$247,000

$119/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$12,000(+5.1%)

Key Takeaway

Homes in Rochester Township have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in Rochester Township was $247,000 in February 2024, up 5.1% from last year, and the median price per square foot was $119.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $162.5K$225K
+38.5%
3 $210K$233K
+11.0%
4 $283.5K$305K
+7.6%
5+ $435K$440K
+1.1%

Summary: Rochester Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 38.5%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 1.1%.

Median Sold Price Compared To Nearby Cities

Capital Township
+10.2%
Rochester
+8.9%
Springfield
+7.8%
Rochester Township
+5.1%
Woodside Township
+4.5%

Housing Supply in Rochester Township, IL

How many homes are available in Rochester Township, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
911+22.2%

Summary: The Rochester Township real estate market had 11 homes for sale in February 2024, a 22.2% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 22
0.0%
3 24
+100.0%
4 54
-20.0%
5+ 01
+100.0%

Summary: The Rochester Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 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 February 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

Feb 2023Feb 2024CHANGE
32 Days29 Days-8.7%

Summary: Homes in Rochester Township had an average of 29 days on market in Feb 2024, down by 8.7% 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 February 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 27 Days Ago

Newest Listings in Rochester Township, IL

Nearby Markets to Rochester Township, IL

What housing markets are near Rochester Township, IL?