Rockford Housing Market Hits Record Numbers For July
Last month, the average Rockford home sold for slightly more than $147,000, marking the highest price for any month in more than 13 years.
Rockford Area Realtors says the trend continues with the 3 month rolling average of prices in Winnebago, Boone and Ogle Counties going up 3.5 percent from this time last year or nearly $5,000, with the year to date average prices of homes climbing as well.
Overall inventory is also falling, with just over 1,100 homes for sale, dropping 5 percent since last year.
"We want as much of an apples to apples comparison, so that's why we look at July's numbers this year and compare them to July's numbers last year and that's really when we're studying the real estate market and all the fluctuations that may happen, that gives us a truer picture," said Conor Brown, CEO of Rockford Area Realtors.
New listings also made a splash last month, with 708 on the market, a 10 percent spike from 2018. With the average number of days a home was on the market down to 36, down 3 from last year.
Overall, nearly 460 homes were sold in July, which is 9 more than the same time last year.
More From 96.7 The Eagle
