Is Rock Island, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Rock Island has remained a Seller's Market.
Housing Prices in Rock Island, IL
How much do homes in Rock Island, IL cost?
Median Sold Price
$130,000
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Rock Island was $130,000 in May 2024, up 6.1% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $69K | $46.1K | -33.2% |
2 Bedrooms | $80.5K | $107K | +32.9% |
3 Bedrooms | $139.9K | $140K | 0.0% |
4 Bedrooms | $160.2K | $161K | 0.5% |
5+ Bedrooms | $173.9K | $217K | +24.7% |
Summary: Rock Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.2%, 2 bedroom homes increased by 32.9%, 3 bedroom homes did not change, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 24.7%.
Median Sold Price Compared To Nearby Cities
Rock Island Township | $94.6K | $130.1K | +37.5% |
Milan | $129.6K | $163.5K | +26.1% |
Blackhawk Township | $135K | $164K | +21.5% |
Rock Island | $122.5K | $130K | +6.1% |
South Rock Island Township | $139.9K | $140K | 0.0% |
Housing Supply in Rock Island, IL
How many homes are available in Rock Island, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
119 | 131 | +10.1% |
Summary: The Rock Island real estate market had 131 homes for sale in May 2024, a 10.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 5 | +150.0% |
2 Bedrooms | 39 | 40 | +2.6% |
3 Bedrooms | 51 | 51 | 0.0% |
4 Bedrooms | 21 | 28 | +33.3% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Rock Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 2.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
30 | 49 | +63.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 49 homes were sold or pending in Rock Island in May 2024, up by 63.3% month-over-month. Of the 49 sold homes, 35% were sold under asking, 18% were sold at asking, and 47% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 18 Days | +8.3% |
Summary: Homes in Rock Island had an average of 18 days on market in May 2024, up by 8.3% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 49 homes were sold in Rock Island; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.