Is Rockford, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Rockford has remained a Seller's Market.
Housing Prices in Rockford, MI
How much do homes in Rockford, MI cost?
Median Sold Price
$425,000
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Rockford was $425,000 in February 2024, up 11.9% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $314.9K | $330K | +4.8% |
2 Bedrooms | $235K | $258K | +9.8% |
3 Bedrooms | $335K | $362.3K | +8.2% |
4 Bedrooms | $422.5K | $460K | +8.9% |
5+ Bedrooms | $496K | $585K | +17.9% |
Summary: Rockford housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 17.9%.
Median Sold Price Compared To Nearby Cities
Rockford | $379.9K | $425K | +11.9% |
Courtland Township | $415K | $446.5K | +7.6% |
Cannon Township | $430K | $455K | +5.8% |
Algoma Township | $397.4K | $397.5K | 0.0% |
Housing Supply in Rockford, MI
How many homes are available in Rockford, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
77 | 82 | +6.5% |
Summary: The Rockford real estate market had 82 homes for sale in February 2024, a 6.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 30 | 29 | -3.3% |
4 Bedrooms | 27 | 30 | +11.1% |
5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Rockford housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
22 | 23 | +4.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Rockford in February 2024, up by 4.5% month-over-month. Of the 23 sold homes, 39% were sold under asking, 22% were sold at asking, and 39% were sold over asking.
Days on Market for Rockford, MI
How long does it take to sell a home in Rockford, MI?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
63 Days | 23 Days | -63.1% |
Summary: Homes in Rockford had an average of 23 days on market in Feb 2024, down by 63.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 23 homes were sold in Rockford; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.