Is Rockford, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$422,083
$257/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Rockford was $422,083 in April 2024, up 8.4% from last year, and the median price per square foot was $257.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $330K | $341.5K | +3.5% |
2 Bedrooms | $235K | $250.5K | +6.6% |
3 Bedrooms | $335K | $373.4K | +11.5% |
4 Bedrooms | $423K | $457.5K | +8.2% |
5+ Bedrooms | $515.3K | $575K | +11.6% |
Summary: Rockford housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Cities
Rockford | $389.2K | $422K | +8.4% |
Courtland Township | $415K | $448.7K | +8.1% |
Algoma Township | $399.9K | $410K | +2.5% |
Cannon Township | $445K | $451.5K | +1.5% |
Housing Supply in Rockford, MI
How many homes are available in Rockford, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
95 | 125 | +31.6% |
Summary: The Rockford real estate market had 125 homes for sale in April 2024, a 31.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 10 | 11 | +10.0% |
3 Bedrooms | 33 | 50 | +51.5% |
4 Bedrooms | 34 | 46 | +35.3% |
5+ Bedrooms | 16 | 18 | +12.5% |
Summary: The Rockford housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 51.5%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 37 | +68.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Rockford in April 2024, up by 68.2% month-over-month. Of the 37 sold homes, 22% were sold under asking, 30% were sold at asking, and 49% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
44 Days | 14 Days | -67.9% |
Summary: Homes in Rockford had an average of 14 days on market in Apr 2024, down by 67.9% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 37 homes were sold in Rockford; 89% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.