Is Rochester Hills, 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, Rochester Hills has remained a Seller's Market.
Housing Prices in Rochester Hills, MI
How much do homes in Rochester Hills, MI cost?
Median Sold Price
$410,666
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Rochester Hills was $410,666 in April 2024, up 3.7% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.5K | $121.2K | +7.8% |
2 Bedrooms | $240K | $250.5K | +4.4% |
3 Bedrooms | $350K | $350K | 0.0% |
4 Bedrooms | $480K | $515K | +7.3% |
5+ Bedrooms | $600K | $556K | -7.3% |
Summary: Rochester Hills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 4.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 7.3%.
Median Sold Price Compared To Nearby Cities
Auburn Hills | $246.7K | $268K | +8.6% |
Rochester | $467.5K | $492.5K | +5.4% |
Rochester Hills | $396.1K | $410.6K | +3.7% |
Shelby Charter Township | $334.5K | $339.9K | +1.6% |
Oakland Charter Township | $590K | $596.5K | +1.1% |
Housing Supply in Rochester Hills, MI
How many homes are available in Rochester Hills, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
162 | 184 | +13.6% |
Summary: The Rochester Hills real estate market had 184 homes for sale in April 2024, a 13.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 28 | 32 | +14.3% |
3 Bedrooms | 67 | 70 | +4.5% |
4 Bedrooms | 58 | 70 | +20.7% |
5+ Bedrooms | 8 | 11 | +37.5% |
Summary: The Rochester Hills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
56 | 45 | -19.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Rochester Hills in April 2024, down by 19.6% month-over-month. Of the 45 sold homes, 29% were sold under asking, 11% were sold at asking, and 60% were sold over asking.
Days on Market for Rochester Hills, MI
How long does it take to sell a home in Rochester Hills, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
36 Days | 29 Days | -18.8% |
Summary: Homes in Rochester Hills had an average of 29 days on market in Apr 2024, down by 18.8% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 45 homes were sold in Rochester Hills; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.