Rockford, IL housing market

The story in Rockford right now is short supply and steady demand. There are only about 150 homes for sale, and that thin inventory is doing a lot of the work here. The typical home value sits at around one hundred seventy-four thousand dollars, up nearly 9 percent over the past year, so values are still moving in sellers' favor. Homes are moving too. The median time on the market is about thirty-two days, which is a normal, healthy pace, not a sign of buyers stalling. About 214 new listings came on, which helps, but with demand this firm, that fresh supply gets absorbed rather than piling up. And only about 7 percent of listings have cut their price, which tells you most sellers are pricing right and getting it. The median list price is around one hundred eighty-eight thousand dollars. If you own here and price close to what the market supports, you are in a strong spot. The main risk is overreaching. Price too far above the comps and you will sit while everyone around you sells.