Is Rockford, IL 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, IL
How much do homes in Rockford, IL cost?
Median Sold Price
$153,187
$101/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Rockford was $153,187 in April 2024, up 20.6% from last year, and the median price per square foot was $101.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $55K | $74.7K | +35.9% |
2 Bedrooms | $85K | $118.2K | +39.2% |
3 Bedrooms | $131.1K | $156.7K | +19.6% |
4 Bedrooms | $148K | $199.6K | +34.9% |
5+ Bedrooms | $165.5K | $175.9K | +6.3% |
Summary: Rockford housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.9%, 2 bedroom homes increased by 39.2%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 34.9%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
Rockford | $127K | $153.1K | +20.6% |
Rockford Township | $130K | $151.6K | +16.7% |
Cherry Valley | $254.2K | $277K | +8.9% |
Cherry Valley Township | $200K | $210K | +5.0% |
Housing Supply in Rockford, IL
How many homes are available in Rockford, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
295 | 319 | +8.1% |
Summary: The Rockford real estate market had 319 homes for sale in April 2024, a 8.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 3 | -25.0% |
2 Bedrooms | 54 | 58 | +7.4% |
3 Bedrooms | 148 | 155 | +4.7% |
4 Bedrooms | 73 | 82 | +12.3% |
5+ Bedrooms | 16 | 21 | +31.3% |
Summary: The Rockford housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 31.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
96 | 99 | +3.1% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
49 Homes Were Sold
Over Asking
Summary: A total of 99 homes were sold or pending in Rockford in April 2024, up by 3.1% month-over-month. Of the 99 sold homes, 33% were sold under asking, 17% were sold at asking, and 49% were sold over asking.
Days on Market for Rockford, IL
How long does it take to sell a home in Rockford, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
33 Days | 33 Days | -2.3% |
Summary: Homes in Rockford had an average of 33 days on market in Apr 2024, down by 2.3% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During April 2024, 99 homes were sold in Rockford; 75% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.