By rssfeeds-admin According to the NorthWest Illinois Alliance of Realtors, a total of 268 properties were listed for sale in January, a 49% increase over the 189 listed in January 2024.
“Inventory is still tight in the Rockford market,” commented Conor Brown, CEO, NorthWest Illinois Alliance of Realtors, “but it is rising. And 2025 is poised to continue the trend of rising inventory across the country.”
The average selling price of a home in Rockford in January was $215,621, 9.3% higher than January 2024’s average price of $197,355.
The NorthWest Alliance of Realtors attributed the new sales to homeowners selling their homes at higher values.
Freddie Mac data shows the 30-year fixed mortgage rate at a 7-month high of 6.96%.
Brown added that housing stats show black households hold the largest percentage increase of any ethnic group, with a homeownership rate reaching 44.1%.
“This increment, though slight, signifies a positive movement toward homeownership within the black community,” commented Brown. “And a new influx of more black Realtors in the Rockford market, both younger and female, may change those opportunities.”
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