Is Rochester, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rochester is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in Rochester, MI cost?

Median Sold Price

$435,000

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$35,000(+8.8%)

Key Takeaway

Homes in Rochester have sold for 8.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $94K$107.5K
+14.4%
2 $209.9K$230K
+9.6%
3 $400K$426.7K
+6.7%
4 $575K$630K
+9.6%
5+ $630K$657.5K
+4.4%

Median Sold Price Compared To Nearby Cities

Rochester
+8.8%
Rochester Hills
+8.3%
Shelby Charter Township
-1.8%

How many homes are available in Rochester, MI?

Number of Homes For Sale

Oct 2022Nov 2022%
4854+12.5%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 22
0.0%
2 1215
+25.0%
3 1724
+41.2%
4 1612
-25.0%
5+ 11
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
1411-21.4%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rochester, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
68 Days14 Days-78.5%

Breakdown of Home Sale Times

3 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 are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Rochester, MI

Number of homes for sale in Rochester, MI real estate market have reached 54. The number of homes for sale in Rochester, MI increased by 12.5% between October 2022 and November 2022. While the average time on the market in November 2022 was 14 days, the median list price was $435,000. Real estate listing prices changed between October 2022 and November 2022: prices of 1 bedroom properties went up by 14.4%, prices of 2 bedrooms properties increased by 9.6%, prices of 3 bedrooms properties increased by 6.7%, 4 bedrooms properties became 9.6% more expensive, prices of 5 bedrooms properties increased by 4.4%. Volume of homes for sale changed: 1 bedroom homes inventory did not change, number of 2 bedrooms homes increased by 25%, 3 bedrooms homes inventory increased by 41.2%, 4 bedrooms homes inventory decreased by 25%, number of 5 bedrooms homes remained the same. In November 2022 more than 3 listings in Rochester, MI were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 6 were sold below.

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