Is Rock Falls, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rock Falls is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Rock Falls, IL

How much do homes in Rock Falls, IL cost?

Median Sold Price

$105,000

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,000(+12.9%)

Key Takeaway

Homes in Rock Falls have sold for 12.9% more than they did a year ago.

Summary: The median home sold price in Rock Falls was $105,000 in October 2024, up 12.9% from last year, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $55K$97K
+76.4%
2 $64K$80K
+25.0%
3 $108.9K$136K
+24.8%
4 $129.9K$138K
+6.2%
5+ $100.7K$137.5K
+36.5%

Summary: Rock Falls housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 76.4%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 24.8%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 36.5%.

Median Sold Price Compared To Nearby Cities

Sterling
+17.1%
Coloma Township
+14.5%
Rock Falls
+12.9%
Sterling Township
+11.0%

Housing Supply in Rock Falls, IL

How many homes are available in Rock Falls, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3943+10.3%

Summary: The Rock Falls real estate market had 43 homes for sale in October 2024, a 10.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 1012
+20.0%
3 2121
0.0%
4 57
+40.0%
5+ 12
+100.0%

Summary: The Rock Falls housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
148-42.9%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rock Falls, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Rock Falls in October 2024, down by 42.9% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Rock Falls, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
28 Days36 Days+29.6%

Summary: Homes in Rock Falls had an average of 36 days on market in Oct 2024, up by 29.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 8 homes were sold in Rock Falls; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% 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 16 Days Ago

Newest Listings in Rock Falls, IL

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