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 November 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

$160,362

$110/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$16,069(+11.1%)

Key Takeaway

Homes in Rockford Township have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in Rockford Township was $160,362 in November 2024, up 11.1% from last year, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $65K$71.5K
+10.0%
2 $105K$133.6K
+27.3%
3 $148.3K$167.5K
+12.9%
4 $175K$212.2K
+21.3%
5+ $214.7K$168.5K
-21.5%

Summary: Rockford Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes decreased by 21.5%.

Median Sold Price Compared To Nearby Cities

Rockford
+11.6%
Rockford Township
+11.1%
Cherry Valley
-0.3%
Cherry Valley Township
-2.2%

Housing Supply in Rockford Township, IL

How many homes are available in Rockford Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
477441-7.5%

Summary: The Rockford Township real estate market had 441 homes for sale in November 2024, a 7.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 46
+50.0%
2 10295
-6.9%
3 237217
-8.4%
4 8986
-3.4%
5+ 4537
-17.8%

Summary: The Rockford Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 17.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
135139+3.0%

Asking Price vs. Sold Price

57 Homes Were Sold
Under Asking

29 Homes Were Sold
At Asking

53 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. 41% of homes here sold below asking price last month.

Summary: A total of 139 homes were sold or pending in Rockford Township in November 2024, up by 3.0% month-over-month. Of the 139 sold homes, 41% were sold under asking, 21% were sold at asking, and 38% 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

Nov 2023Nov 2024CHANGE
24 Days21 Days-12.4%

Summary: Homes in Rockford Township had an average of 21 days on market in Nov 2024, down by 12.4% compared to last year.

Breakdown of Home Sale Times

108 Homes Were Sold
Under 30 Days

28 Homes Were Sold
In 30 - 90 Days

3 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 November 2024, 139 homes were sold in Rockford Township; 78% of homes were sold within 30 days, 20% 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 21 Days Ago

Newest Listings in Rockford Township, IL

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