Is Rockford Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rockford Township is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Rockford Township has remained a Seller's Market.

Key Takeaway

Rockford Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Rockford Township, IL

How much do homes in Rockford Township, IL cost?

Median Sold Price

$151,666

$101/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$21,648(+16.7%)

Key Takeaway

Homes in Rockford Township have sold for 16.7% more than they did a year ago.

Summary: The median home sold price in Rockford Township was $151,666 in April 2024, up 16.7% from last year, and the median price per square foot was $101.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $53.5K$68K
+27.1%
2 $90K$120.7K
+34.2%
3 $139.7K$158.8K
+13.7%
4 $153.5K$200.1K
+30.4%
5+ $179.9K$175.9K
-2.2%

Summary: Rockford Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.1%, 2 bedroom homes increased by 34.2%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes decreased by 2.2%.

Median Sold Price Compared To Nearby Cities

Rockford
+20.6%
Rockford Township
+16.7%
Cherry Valley
+8.9%
Cherry Valley Township
+5.0%

Housing Supply in Rockford Township, IL

How many homes are available in Rockford Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
318333+4.7%

Summary: The Rockford Township real estate market had 333 homes for sale in April 2024, a 4.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 54
-20.0%
2 6261
-1.6%
3 162165
+1.9%
4 7382
+12.3%
5+ 1621
+31.3%

Summary: The Rockford Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 31.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
103108+4.9%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

56 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rockford Township, you could pay more than the asking price. 51.9% of homes here sold above asking price last month.

Summary: A total of 108 homes were sold or pending in Rockford Township in April 2024, up by 4.9% month-over-month. Of the 108 sold homes, 31% were sold under asking, 17% were sold at asking, and 52% were sold over asking.

Days on Market for Rockford Township, IL

How long does it take to sell a home in Rockford Township, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
33 Days31 Days-5.4%

Summary: Homes in Rockford Township had an average of 31 days on market in Apr 2024, down by 5.4% compared to last year.

Breakdown of Home Sale Times

80 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rockford Township are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 108 homes were sold in Rockford Township; 74% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 9 Days Ago

Newest Listings in Rockford Township, IL

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