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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rock Island is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Rock Island, IL

How much do homes in Rock Island, IL cost?

Median Sold Price

$138,500

$94/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$16,000(+13.1%)

Key Takeaway

Homes in Rock Island have sold for 13.1% more than they did a year ago.

Summary: The median home sold price in Rock Island was $138,500 in November 2024, up 13.1% from last year, and the median price per square foot was $94.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $47K$62.5K
+33.0%
2 $95K$115K
+21.1%
3 $132.1K$153.5K
+16.2%
4 $151K$180K
+19.2%
5+ $174.9K$130K
-25.7%

Summary: Rock Island housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33%, 2 bedroom homes increased by 21.1%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes decreased by 25.7%.

Median Sold Price Compared To Nearby Cities

Blackhawk Township
+21.4%
Milan
+17.4%
Rock Island Township
+15.0%
Rock Island
+13.1%
South Rock Island Township
+9.6%

Housing Supply in Rock Island, IL

How many homes are available in Rock Island, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
140139-0.7%

Summary: The Rock Island real estate market had 139 homes for sale in November 2024, a 0.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 65
-16.7%
2 4645
-2.2%
3 5658
+3.6%
4 2223
+4.5%
5+ 108
-20.0%

Summary: The Rock Island housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3230-6.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer37%33%30%

Key Takeaway

If you're buying a home in Rock Island, you may be able to get a good deal. 36.7% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in Rock Island in November 2024, down by 6.3% month-over-month. Of the 30 sold homes, 37% were sold under asking, 30% were sold at asking, and 33% were sold over asking.

Days on Market for Rock Island, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
40 Days25 Days-37.8%

Summary: Homes in Rock Island had an average of 25 days on market in Nov 2024, down by 37.8% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times73%23%

Key Takeaway

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

Summary: During November 2024, 30 homes were sold in Rock Island; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 3% 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 17 Days Ago

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