Is South Rock Island Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Rock Island Township is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, South Rock Island Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in South Rock Island Township, IL

How much do homes in South Rock Island Township, IL cost?

Median Sold Price

$145,000

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$5,001(+3.6%)

Key Takeaway

Homes in South Rock Island Township have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in South Rock Island Township was $145,000 in September 2024, up 3.6% from last year, and the median price per square foot was $97.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $50.3K$54.9K
+9.1%
2 $105.9K$125K
+18.0%
3 $150.4K$159.9K
+6.3%
4 $180K$186K
+3.3%
5+ $190K$330K
+73.7%

Summary: South Rock Island Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 73.7%.

Median Sold Price Compared To Nearby Cities

Rock Island Township
+18.6%
Blackhawk Township
+17.9%
Milan
+16.6%
Rock Island
+10.6%
South Rock Island Township
+3.6%

Housing Supply in South Rock Island Township, IL

How many homes are available in South Rock Island Township, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
76760.0%

Summary: The South Rock Island Township real estate market had 76 homes for sale in September 2024, the same as August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 35
+66.7%
2 2424
0.0%
3 2831
+10.7%
4 1914
-26.3%
5+ 22
0.0%

Summary: The South Rock Island Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.7%, 4 bedroom homes decreased by 26.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2216-27.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Rock Island Township, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in South Rock Island Township in September 2024, down by 27.3% month-over-month. Of the 16 sold homes, 19% were sold under asking, 38% were sold at asking, and 44% were sold over asking.

Days on Market for South Rock Island Township, IL

How long does it take to sell a home in South Rock Island Township, IL?

Average Sale Time

Sep 2023Sep 2024CHANGE
39 Days13 Days-65.9%

Summary: Homes in South Rock Island Township had an average of 13 days on market in Sep 2024, down by 65.9% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 16 homes were sold in South Rock Island Township; 94% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 6% 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 30 Days Ago

Newest Listings in South Rock Island Township, IL

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