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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rockford is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Rockford, IL

How much do homes in Rockford, IL cost?

Median Sold Price

$160,250

$109/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$15,157(+10.4%)

Key Takeaway

Homes in Rockford have sold for 10.4% more than they did a year ago.

Summary: The median home sold price in Rockford was $160,250 in December 2024, up 10.4% from last year, and the median price per square foot was $109.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $61.2K$57K
-6.9%
2 $104.9K$127.2K
+21.3%
3 $148.1K$168.7K
+13.9%
4 $185K$215K
+16.2%
5+ $219.5K$160K
-27.1%

Summary: Rockford housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.9%, 2 bedroom homes increased by 21.3%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes decreased by 27.1%.

Median Sold Price Compared To Nearby Cities

Rockford Township
+11.5%
Rockford
+10.4%
Cherry Valley Township
0%

Housing Supply in Rockford, IL

How many homes are available in Rockford, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
413328-20.6%

Summary: The Rockford real estate market had 328 homes for sale in December 2024, a 20.6% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 64
-33.3%
2 8272
-12.2%
3 210154
-26.7%
4 7973
-7.6%
5+ 3625
-30.6%

Summary: The Rockford housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 12.2%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes decreased by 30.6%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
139118-15.1%

Asking Price vs. Sold Price

56 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

40 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rockford, you may be able to get a good deal. 47.5% of homes here sold below asking price last month.

Summary: A total of 118 homes were sold or pending in Rockford in December 2024, down by 15.1% month-over-month. Of the 118 sold homes, 47% were sold under asking, 19% were sold at asking, and 34% were sold over asking.

Days on Market for Rockford, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
25 Days29 Days+16.8%

Summary: Homes in Rockford had an average of 29 days on market in Dec 2024, up by 16.8% compared to last year.

Breakdown of Home Sale Times

81 Homes Were Sold
Under 30 Days

27 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 118 homes were sold in Rockford; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% 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 4 Days Ago

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