Is Rochelle, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rochelle is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Rochelle, IL

How much do homes in Rochelle, IL cost?

Median Sold Price

$182,500

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$16,700(+10.1%)

Key Takeaway

Homes in Rochelle have sold for 10.1% more than they did a year ago.

Summary: The median home sold price in Rochelle was $182,500 in October 2024, up 10.1% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $147.9K$156K
+5.5%
3 $157K$186.5K
+18.8%
4 $200K$262.5K
+31.3%
5+ $253.1K$177K
-30.1%

Summary: Rochelle housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes decreased by 30.1%.

Median Sold Price Compared To Nearby Cities

Flagg Township
+11.1%
Rochelle
+10.1%

Housing Supply in Rochelle, IL

How many homes are available in Rochelle, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2926-10.3%

Summary: The Rochelle real estate market had 26 homes for sale in October 2024, a 10.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 57
+40.0%
3 1411
-21.4%
4 75
-28.6%
5+ 22
0.0%

Summary: The Rochelle housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rochelle, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Rochelle in October 2024, down by 22.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.

Days on Market for Rochelle, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
8 Days31 Days+287.5%

Summary: Homes in Rochelle had an average of 31 days on market in Oct 2024, up by 287.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 7 homes were sold in Rochelle; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 20 Days Ago

Newest Listings in Rochelle, IL

Nearby Markets to Rochelle, IL

What housing markets are near Rochelle, IL?