Is Rochester Hills, MI 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, Rochester Hills has remained a Seller's Market.
Housing Prices in Rochester Hills, MI
How much do homes in Rochester Hills, MI cost?
Median Sold Price
$419,900
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Rochester Hills was $419,900 in June 2024, up 5% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.5K | $130K | +15.6% |
2 Bedrooms | $240K | $251.2K | +4.7% |
3 Bedrooms | $354.5K | $360K | +1.6% |
4 Bedrooms | $480K | $520.1K | +8.4% |
5+ Bedrooms | $600K | $572.1K | -4.7% |
Summary: Rochester Hills housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes decreased by 4.7%.
Median Sold Price Compared To Nearby Cities
Oakland Charter Township | $580K | $612K | +5.5% |
Shelby Charter Township | $330.1K | $347.5K | +5.3% |
Auburn Hills | $256.5K | $270K | +5.3% |
Rochester Hills | $399.7K | $419.9K | +5.0% |
Rochester | $488.1K | $500K | +2.4% |
Housing Supply in Rochester Hills, MI
How many homes are available in Rochester Hills, MI?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
217 | 227 | +4.6% |
Summary: The Rochester Hills real estate market had 227 homes for sale in June 2024, a 4.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 35 | 30 | -14.3% |
3 Bedrooms | 76 | 80 | +5.3% |
4 Bedrooms | 88 | 96 | +9.1% |
5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The Rochester Hills housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
82 | 52 | -36.6% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in Rochester Hills in June 2024, down by 36.6% month-over-month. Of the 52 sold homes, 29% were sold under asking, 10% were sold at asking, and 62% were sold over asking.
Days on Market for Rochester Hills, MI
How long does it take to sell a home in Rochester Hills, MI?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
15 Days | 12 Days | -20.1% |
Summary: Homes in Rochester Hills had an average of 12 days on market in Jun 2024, down by 20.1% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 52 homes were sold in Rochester Hills; 90% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.