Is Rockford, MN 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.
Key Takeaway
Rockford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rockford, MN
How much do homes in Rockford, MN cost?
Median Sold Price
$369,995
$186/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Rockford has remained the same since last year.
Summary: The median home sold price in Rockford was $369,995 in March 2024, up 0.4% from last year, and the median price per square foot was $186.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $317.4K | $335K | +5.5% |
| 3 Bedrooms | $315K | $315K | 0.0% |
| 4 Bedrooms | $432.9K | $449.9K | +3.9% |
| 5+ Bedrooms | $630K | $585K | -7.1% |
Summary: Rockford 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 5.5%, 3 bedroom homes did not change, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes decreased by 7.1%.
Median Sold Price Compared To Nearby Cities
| Rockford Township | $365K | $380K | +4.1% |
| Independence | $833.7K | $849K | +1.8% |
| Rockford | $366.2K | $369.9K | +1.0% |
| Rockford | $368.7K | $369.9K | 0.4% |
| Greenfield | $630K | $620K | -1.6% |
Housing Supply in Rockford, MN
How many homes are available in Rockford, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 35 | +34.6% |
Summary: The Rockford real estate market had 35 homes for sale in March 2024, a 34.6% increase 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 | 9 | 8 | -11.1% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 7 | 16 | +128.6% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Rockford 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 decreased by 11.1%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 128.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Rockford, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Rockford in March 2024, up by 133.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for Rockford, MN
How long does it take to sell a home in Rockford, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 17 Days | 119 Days | +590.4% |
Summary: Homes in Rockford had an average of 119 days on market in Mar 2024, up by 590.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rockford are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Rockford; 57% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
