$8,074 Closing Credit*
$679,900
1,671 SqFt
3 Beds
•1 Full Bath, 1 Partial
Marina Bojaj, Listing Office: Remirus
Is Rochester, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Rochester has remained a Seller's Market.
Key Takeaway
Rochester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rochester, MI
How much do homes in Rochester, MI cost?
Median Sold Price
$537,875
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$52,875(+10.9%)
Key Takeaway
Homes in Rochester have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Rochester was $537,875 in November 2024, up 10.9% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $137.5K | +19.6% |
| 2 Bedrooms | $262.7K | $275K | +4.7% |
| 3 Bedrooms | $475K | $481K | +1.3% |
| 4 Bedrooms | $627K | $692.5K | +10.4% |
| 5+ Bedrooms | $871.2K | $965K | +10.8% |
Summary: Rochester housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.6%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 10.8%.
Median Sold Price Compared To Nearby Cities
| Rochester | $485K | $537.8K | +10.9% |
| Rochester Hills | $405K | $432K | +6.7% |
| Shelby Charter Township | $335.9K | $354.6K | +5.5% |
Housing Supply in Rochester, MI
How many homes are available in Rochester, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 148 | 125 | -15.5% |
Summary: The Rochester real estate market had 125 homes for sale in November 2024, a 15.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 38 | 33 | -13.2% |
| 3 Bedrooms | 43 | 33 | -23.3% |
| 4 Bedrooms | 47 | 40 | -14.9% |
| 5+ Bedrooms | 19 | 17 | -10.5% |
Summary: The Rochester housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 13.2%, 3 bedroom homes decreased by 23.3%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes decreased by 10.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 46 | 36 | -21.7% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Rochester in November 2024, down by 21.7% month-over-month. Of the 36 sold homes, 67% were sold under asking, 14% were sold at asking, and 19% were sold over asking.
Days on Market for Rochester, MI
How long does it take to sell a home in Rochester, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 28 Days | +10.2% |
Summary: Homes in Rochester had an average of 28 days on market in Nov 2024, up by 10.2% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rochester are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 36 homes were sold in Rochester; 69% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.