Is Rock Island, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Rock Island has remained a Seller's Market.
Housing Prices in Rock Island, IL
How much do homes in Rock Island, IL cost?
Median Sold Price
$130,000
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Rock Island was $130,000 in March 2024, up 11.5% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $50K | $50K | 0.0% |
2 Bedrooms | $81K | $109.9K | +35.7% |
3 Bedrooms | $130K | $141.5K | +8.8% |
4 Bedrooms | $155K | $166K | +7.1% |
5+ Bedrooms | $225K | $173K | -23.1% |
Summary: Rock Island 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 35.7%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 23.1%.
Median Sold Price Compared To Nearby Cities
Rock Island Township | $88.3K | $130K | +47.2% |
Milan | $121K | $165K | +36.4% |
Blackhawk Township | $128K | $164K | +28.1% |
Rock Island | $116.5K | $130K | +11.5% |
South Rock Island Township | $130K | $143K | +10.0% |
Housing Supply in Rock Island, IL
How many homes are available in Rock Island, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
106 | 112 | +5.7% |
Summary: The Rock Island real estate market had 112 homes for sale in March 2024, a 5.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 30 | 35 | +16.7% |
3 Bedrooms | 46 | 48 | +4.3% |
4 Bedrooms | 22 | 20 | -9.1% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Rock Island 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 16.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 29 | +20.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Rock Island in March 2024, up by 20.8% month-over-month. Of the 29 sold homes, 34% were sold under asking, 17% were sold at asking, and 48% were sold over asking.
Days on Market for Rock Island, IL
How long does it take to sell a home in Rock Island, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
51 Days | 23 Days | -53.8% |
Summary: Homes in Rock Island had an average of 23 days on market in Mar 2024, down by 53.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in Rock Island; 72% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.