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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rockford Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Rockford Township, IL

How much do homes in Rockford Township, IL cost?

Median Sold Price

$160,000

$108/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,322(+13.7%)

Key Takeaway

Homes in Rockford Township have sold for 13.7% more than they did a year ago.

Summary: The median home sold price in Rockford Township was $160,000 in October 2024, up 13.7% from last year, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $60K$82K
+36.7%
2 $99.2K$134.6K
+35.7%
3 $145.3K$165.1K
+13.6%
4 $173.9K$209.8K
+20.7%
5+ $210K$160K
-23.8%

Summary: Rockford Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.7%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes decreased by 23.8%.

Median Sold Price Compared To Nearby Cities

Rockford
+14.3%
Rockford Township
+13.7%
Cherry Valley Township
+3.3%
Cherry Valley
-2.9%

Housing Supply in Rockford Township, IL

How many homes are available in Rockford Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
437480+9.8%

Summary: The Rockford Township real estate market had 480 homes for sale in October 2024, a 9.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 34
+33.3%
2 94104
+10.6%
3 211240
+13.7%
4 8987
-2.2%
5+ 4045
+12.5%

Summary: The Rockford Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 13.7%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1291290.0%

Asking Price vs. Sold Price

58 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

50 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rockford Township, you may be able to get a good deal. 45% of homes here sold below asking price last month.

Summary: A total of 129 homes were sold or pending in Rockford Township in October 2024, the same as the previous month. Of the 129 sold homes, 45% were sold under asking, 16% were sold at asking, and 39% were sold over asking.

Days on Market for Rockford Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days17 Days-28.9%

Summary: Homes in Rockford Township had an average of 17 days on market in Oct 2024, down by 28.9% compared to last year.

Breakdown of Home Sale Times

102 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 129 homes were sold in Rockford Township; 79% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 2% 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 20 Days Ago

Newest Listings in Rockford Township, IL

Nearby Markets to Rockford Township, IL

What housing markets are near Rockford Township, IL?