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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rockford Township is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Rockford Township, IL

How much do homes in Rockford Township, IL cost?

Median Sold Price

$149,284

$99/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$21,005(+16.4%)

Key Takeaway

Homes in Rockford Township have sold for 16.4% more than they did a year ago.

Summary: The median home sold price in Rockford Township was $149,284 in February 2024, up 16.4% 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
+46.6%
2 $90K$112.2K
+24.7%
3 $135.5K$152.1K
+12.3%
4 $150K$191.6K
+27.8%
5+ $152K$186.5K
+22.7%

Summary: Rockford Township 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 24.7%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes increased by 22.7%.

Median Sold Price Compared To Nearby Cities

Rockford
+21.0%
Cherry Valley
+17.4%
Rockford Township
+16.4%
Cherry Valley Township
+6.8%

Housing Supply in Rockford Township, IL

How many homes are available in Rockford Township, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
272276+1.5%

Summary: The Rockford Township real estate market had 276 homes for sale in February 2024, a 1.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 53
-40.0%
2 5461
+13.0%
3 125129
+3.2%
4 6863
-7.4%
5+ 2020
0.0%

Summary: The Rockford Township 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 3.2%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
8171-12.3%

Asking Price vs. Sold Price

32 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rockford Township, you may be able to get a good deal. 45.1% of homes here sold below asking price last month.

Summary: A total of 71 homes were sold or pending in Rockford Township in February 2024, down by 12.3% month-over-month. Of the 71 sold homes, 45% were sold under asking, 18% were sold at asking, and 37% were sold over asking.

Days on Market for Rockford Township, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
42 Days37 Days-11.6%

Summary: Homes in Rockford Township had an average of 37 days on market in Feb 2024, down by 11.6% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 71 homes were sold in Rockford Township; 59% of homes were sold within 30 days, 27% 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 27 Days Ago

Newest Listings in Rockford Township, IL

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