Is Rockford, IL a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Rockford is a seller's market


Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Rockford, IL

How much do homes in Rockford, IL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since February 2023


Key Takeaway

Homes in Rockford have sold for 21% more than they did a year ago.

Summary: The median home sold price in Rockford was $149,380 in February 2024, up 21% from last year, and the median price per square foot was $99.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $52K$76.2K
2 $85K$105K
3 $127.7K$150.3K
4 $145K$190K
5+ $147.4K$186.5K

Summary: Rockford housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.6%, 2 bedroom homes increased by 23.5%, 3 bedroom homes increased by 17.7%, 4 bedroom homes increased by 31%, and 5+ bedroom homes increased by 26.5%.

Median Sold Price Compared To Nearby Cities

Cherry Valley
Rockford Township
Cherry Valley Township

Housing Supply in Rockford, IL

How many homes are available in Rockford, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE

Summary: The Rockford real estate market had 261 homes for sale in February 2024, a 1.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 53
2 4652
3 118123
4 6863
5+ 2020

Summary: The Rockford housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rockford, you may be able to get a good deal. 47.7% of homes here sold below asking price last month.

Summary: A total of 65 homes were sold or pending in Rockford in February 2024, down by 15.6% month-over-month. Of the 65 sold homes, 48% were sold under asking, 17% were sold at asking, and 35% 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

Feb 2023Feb 2024CHANGE
42 Days39 Days-8.1%

Summary: Homes in Rockford had an average of 39 days on market in Feb 2024, down by 8.1% compared to last year.

Breakdown of Home Sale Times

38 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 65 homes were sold in Rockford; 58% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 14% 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 1 Day Ago

Newest Listings in Rockford, IL

Nearby Markets to Rockford, IL

What housing markets are near Rockford, IL?