$3,859 Closing Credit*
$325,000
1,833 SqFt
3 Beds
•2 Full Baths
Joshua Kruse, Listing Office: The Real Estate Group, Inc.
Is Rochester, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Rochester was a Buyer's Market.
Key Takeaway
Rochester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rochester, IL
How much do homes in Rochester, IL cost?
Median Sold Price
$266,500
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$26,600(+11.1%)
Key Takeaway
Homes in Rochester have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Rochester was $266,500 in October 2024, up 11.1% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $216.2K | $205K | -5.2% |
| 3 Bedrooms | $212K | $255K | +20.3% |
| 4 Bedrooms | $281K | $300.5K | +7.0% |
| 5+ Bedrooms | $556.2K | $435K | -21.8% |
Summary: Rochester 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 decreased by 5.2%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 21.8%.
Median Sold Price Compared To Nearby Cities
| Rochester Township | $246K | $275K | +11.8% |
| Rochester | $239.9K | $266.5K | +11.1% |
Housing Supply in Rochester, IL
How many homes are available in Rochester, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 8 | -42.9% |
Summary: The Rochester real estate market had 8 homes for sale in October 2024, a 42.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 6 | 3 | -50.0% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Rochester 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 decreased by 100%, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Rochester in October 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Rochester, IL
How long does it take to sell a home in Rochester, IL?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 73 Days | 22 Days | -69.9% |
Summary: Homes in Rochester had an average of 22 days on market in Oct 2024, down by 69.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rochester are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Rochester; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.