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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rochester Hills is a seller's market

Buyer's
Market

Difference Since September 2021

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

Key Takeaway

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

How much do homes in Rochester Hills, MI cost?

Median Sold Price

$385,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$35,000(+10.0%)

Key Takeaway

Homes in Rochester Hills have sold for 10% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $115K$122K
+6.1%
2 $185K$219K
+18.4%
3 $313.3K$347.8K
+11.0%
4 $430K$486.5K
+13.1%
5+ $537.5K$550K
+2.3%

Median Sold Price Compared To Nearby Cities

Rochester
+20.7%
Rochester Hills
+10.0%
Oakland Charter Township
+5.6%
Auburn Hills
+3.4%
Shelby Charter Township
+1.1%

How many homes are available in Rochester Hills, MI?

Number of Homes For Sale

Aug 2022Sep 2022%
237230-3.0%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 10
-100.0%
2 3428
-17.6%
3 9796
-1.0%
4 9692
-4.2%
5+ 914
+55.6%

Number of Homes Sold

Aug 2022Sep 2022%
6364+1.6%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rochester Hills, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
20 Days23 Days+15.5%

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rochester Hills 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 Hills, MI

Rochester Hills, MI has 230 homes for sale to choose from. The number of homes for sale in Rochester Hills, MI decreased by 3% between August 2022 and September 2022. While the average time on the market in September 2022 was 23 days, the median list price was $385,000. Between August 2022 and September 2022, listing prices of homes in this real estate market have seen the following changes: the cost of 1 bedroom properties went up by 6.1%, prices of 2 bedrooms properties went up by 18.4%, the cost of 3 bedrooms properties went up by 11%, 4 bedrooms properties prices increased by 13.1%, 5 bedrooms properties prices increased by 2.3%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes went down by 100%, 2 bedrooms homes inventory decreased by 17.6%, 3 bedrooms homes became 1% less available, 4 bedrooms homes inventory decreased by 4.2%, volume of 5 bedrooms homes went up by 55.6%. In September 2022, from all listings sold in Rochester Hills, MI there were more than 26 sold above asking price, over 28 sold below and more than 10 were sold right at the asked price.

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