Rockford IL Real Estate Market Bounces Back: Buying a Home in this Boom Town Just Got Easier
Rockford, IL has recently seen a startling recovery in the real estate market, with signs of a boom lasting well into the future. Over the past few years the Rockford real estate market had been notoriously slow, with homes sitting on the market for over 6 months in some cases. Now, however, the market is heating up with homes flying off the market in no time at all.
If you’re in the market for a home in Rockford IL, now is the time to take action. Recently released housing market reports point to a strong potential for appreciation throughout the City, making now an excellent time to purchase a home here. Affordable homes on the market require buyers to act quickly to snag their dream home. From starter homes to luxury properties, there is no shortage of options available right now.
If you’re a Rockford resident who is looking to buy a house now might be a time.
The real estate market in Rockford, IL is alive and well, with increasing home values and lots of activity. Local real estate experts say the market is on a positive wave, with home sales increasing, as well as prices. Let’s review the data.
According to Zillow, the median home value in Rockford was $73,582 in June 2020. That was an increase of 3.6% over May 2020 and a whopping 8.9% over the past year. The market is expected to continue an upward trend into 2021.
In the same period, the median listing price for a home in Rockford was $121,000. That’s an increase of 4.4% over May and 11.7% over the past year.
Interest rates have dropped recently, which encourages buyers. That being said, there is always an opportunity to buy a house in Rockford. If you are looking to buy a house and sell your primary residence or one of your investment properties give us a call. Team at Modern Times Homes goes the extra mile to help customers sell their house with no hassle. Give us a call at 847 242 2212 for a free no obligation offer.