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 April 2023

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.

Housing Prices in Rochester Hills, MI

How much do homes in Rochester Hills, MI cost?

Median Sold Price

$410,666

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$14,523(+3.7%)

Key Takeaway

Homes in Rochester Hills have sold for 3.7% more than they did a year ago.

Summary: The median home sold price in Rochester Hills was $410,666 in April 2024, up 3.7% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $112.5K$121.2K
+7.8%
2 $240K$250.5K
+4.4%
3 $350K$350K
0.0%
4 $480K$515K
+7.3%
5+ $600K$556K
-7.3%

Summary: Rochester Hills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 4.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 7.3%.

Median Sold Price Compared To Nearby Cities

Auburn Hills
+8.6%
Rochester
+5.4%
Rochester Hills
+3.7%
Shelby Charter Township
+1.6%
Oakland Charter Township
+1.1%

Housing Supply in Rochester Hills, MI

How many homes are available in Rochester Hills, MI?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
162184+13.6%

Summary: The Rochester Hills real estate market had 184 homes for sale in April 2024, a 13.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 2832
+14.3%
3 6770
+4.5%
4 5870
+20.7%
5+ 811
+37.5%

Summary: The Rochester Hills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
5645-19.6%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rochester Hills, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 45 homes were sold or pending in Rochester Hills in April 2024, down by 19.6% month-over-month. Of the 45 sold homes, 29% were sold under asking, 11% were sold at asking, and 60% 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

Apr 2023Apr 2024CHANGE
36 Days29 Days-18.8%

Summary: Homes in Rochester Hills had an average of 29 days on market in Apr 2024, down by 18.8% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

4 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.

Summary: During April 2024, 45 homes were sold in Rochester Hills; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% 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 28 Days Ago

Newest Listings in Rochester Hills, MI

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