So the big crash of the late 2000’s is behind us right? Or is it?…
I performed a search of the Rockford MLS today to compare how the Rockford real estate market did in 2012 compared to 2013 to see if we are
heading up or back down. The results are in (drum roll please)…
In 2012 the Rockford home sales looked like this:
- 62 homes sold all together
- Homes took on average 167.3 days to sell
- The average asking price was $172,550
- The average final sale price was $165.567
- The average home sold was a 4 bed, 3 bath, 1994 built home with 2,080 square feet finished
- The lowest price home sold was $70,000 while the highest was $384,000
In 2013 the Rockford home sales looked like this:
- 56 homes sold all together
- Homes took on average 63.6 days to sell
- The average asking price was $220,077
- The average final sale price was $219,244
- The average home sold was a 4 bed, 3 bath, 1994 built home with 2,205 square feet finished
- The lowest price home sold was $58,400 while the highest was $420,000
What a difference a year makes, the Rockford market is strong, sales are much better and 2014 has already started out on a good foot within our office at DMG. I am hopeful the market will continue to stay positive as homes for sale in Rockford are still a better deal than a comparable home closer to the cities.
Another factor that looks good for Rockford is were building again. Hurst Woods, the neighborhood just North on the River Road has had empty lots for years now, The Derrick Monroe Group recently brought in two top end builders and secured the remaining lots and construction has already begun. All in all Rockford is looking good.
If you’d like to see what the value of your Rockford home is click here and find out quickly.