Is Rockford, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$419,141
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Rockford was $419,141 in March 2024, up 7.9% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $319.9K | $330K | +3.1% |
2 Bedrooms | $242.5K | $250K | +3.1% |
3 Bedrooms | $337.5K | $370K | +9.6% |
4 Bedrooms | $423K | $460K | +8.7% |
5+ Bedrooms | $512.2K | $588K | +14.8% |
Summary: Rockford housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 14.8%.
Median Sold Price Compared To Nearby Cities
Rockford | $388.5K | $419.1K | +7.9% |
Courtland Township | $415K | $445K | +7.2% |
Cannon Township | $437.8K | $450K | +2.8% |
Algoma Township | $399.9K | $400K | 0.0% |
Housing Supply in Rockford, MI
How many homes are available in Rockford, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
79 | 91 | +15.2% |
Summary: The Rockford real estate market had 91 homes for sale in March 2024, a 15.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 7 | 8 | +14.3% |
3 Bedrooms | 28 | 32 | +14.3% |
4 Bedrooms | 29 | 32 | +10.3% |
5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Rockford housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 18 | -25.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Rockford in March 2024, down by 25.0% month-over-month. Of the 18 sold homes, 33% were sold under asking, 28% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 22 Days | -31.2% |
Summary: Homes in Rockford had an average of 22 days on market in Mar 2024, down by 31.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 18 homes were sold in Rockford; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.