Is Rockwood, 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, Rockwood has remained a Seller's Market.
Key Takeaway
Rockwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rockwood, MI
How much do homes in Rockwood, MI cost?
Median Sold Price
$282,500
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rockwood have sold for 22.9% more than they did a year ago.
Summary: The median home sold price in Rockwood was $282,500 in March 2024, up 22.9% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $100K | N/A |
| 2 Bedrooms | $130K | $133K | +2.3% |
| 3 Bedrooms | $197.5K | $225.5K | +14.2% |
| 4 Bedrooms | $358.1K | $377.9K | +5.5% |
| 5+ Bedrooms | - | $392K | N/A |
Summary: Rockwood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Gibraltar | $198.9K | $245K | +23.1% |
| Rockwood | $229.9K | $282.5K | +22.9% |
| Flat Rock | $299.9K | $302.5K | +0.9% |
| Berlin Charter Township | $285K | $280K | -1.8% |
Housing Supply in Rockwood, MI
How many homes are available in Rockwood, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 17 | -5.6% |
Summary: The Rockwood real estate market had 17 homes for sale in March 2024, a 5.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Rockwood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Rockwood, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Rockwood in March 2024, down by 57.1% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Rockwood, MI
How long does it take to sell a home in Rockwood, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 82 Days | 7 Days | -91.5% |
Summary: Homes in Rockwood had an average of 7 days on market in Mar 2024, down by 91.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rockwood are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Rockwood; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
