Is Rockford, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Rockford has remained a Seller's Market.
Housing Prices in Rockford, IL
How much do homes in Rockford, IL cost?
Median Sold Price
$155,377
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Rockford was $155,377 in June 2024, up 17.9% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62.5K | $68K | +8.8% |
2 Bedrooms | $85K | $119K | +40.0% |
3 Bedrooms | $140K | $160K | +14.3% |
4 Bedrooms | $155K | $199.6K | +28.8% |
5+ Bedrooms | $165K | $179.9K | +9.0% |
Summary: Rockford housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 28.8%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Cities
Rockford | $131.7K | $155.3K | +17.9% |
Rockford Township | $135K | $155K | +14.8% |
Cherry Valley Township | $201K | $215K | +7.0% |
Cherry Valley | $264.5K | $279K | +5.5% |
Housing Supply in Rockford, IL
How many homes are available in Rockford, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
343 | 345 | +0.6% |
Summary: The Rockford real estate market had 345 homes for sale in June 2024, a 0.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 73 | 64 | -12.3% |
3 Bedrooms | 153 | 165 | +7.8% |
4 Bedrooms | 89 | 89 | 0.0% |
5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The Rockford housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 12.3%, 3 bedroom homes increased by 7.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
120 | 109 | -9.2% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
61 Homes Were Sold
Over Asking
Summary: A total of 109 homes were sold or pending in Rockford in June 2024, down by 9.2% month-over-month. Of the 109 sold homes, 27% were sold under asking, 17% were sold at asking, and 56% were sold over asking.
Days on Market for Rockford, IL
How long does it take to sell a home in Rockford, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
19 Days | 20 Days | +0.6% |
Summary: Homes in Rockford had an average of 20 days on market in Jun 2024, up by 0.6% compared to last year.
Breakdown of Home Sale Times
87 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During June 2024, 109 homes were sold in Rockford; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.