$10,000 Closing Credit*
$989,900
3,788 SqFt
4 Beds
•3 Full Baths, 2 Partial
Jinny Yun, Listing Office: Century 21 Professionals Troy
Is Rochester, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$548,166
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$63,166(+13.0%)
Key Takeaway
Homes in Rochester have sold for 13% more than they did a year ago.
Summary: The median home sold price in Rochester was $548,166 in October 2024, up 13% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112K | $138K | +23.2% |
| 2 Bedrooms | $262.7K | $277.5K | +5.6% |
| 3 Bedrooms | $477K | $482K | +1.0% |
| 4 Bedrooms | $625K | $695K | +11.2% |
| 5+ Bedrooms | $871.2K | $925K | +6.2% |
Summary: Rochester housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.2%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
| Rochester | $485K | $548.1K | +13.0% |
| Rochester Hills | $403.4K | $430K | +6.6% |
| Shelby Charter Township | $339.9K | $352.7K | +3.8% |
Housing Supply in Rochester, MI
How many homes are available in Rochester, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 127 | 149 | +17.3% |
Summary: The Rochester real estate market had 149 homes for sale in October 2024, a 17.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 28 | 36 | +28.6% |
| 3 Bedrooms | 35 | 45 | +28.6% |
| 4 Bedrooms | 46 | 47 | +2.2% |
| 5+ Bedrooms | 18 | 20 | +11.1% |
Summary: The Rochester housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 44 | +91.3% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in Rochester in October 2024, up by 91.3% month-over-month. Of the 44 sold homes, 45% were sold under asking, 20% were sold at asking, and 34% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 30 Days | +28.8% |
Summary: Homes in Rochester had an average of 30 days on market in Oct 2024, up by 28.8% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
11 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 October 2024, 44 homes were sold in Rochester; 68% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 7% 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.