Rockford area homes sales reach pre-recession levels

June saw the largest monthly total of homes sold in the city's housing market in almost 11 years, according to Rockford Area Association of Realtors.

There were 492 homes sold last month, up 6.3% from the 463 homes sold last June, according to the association. That number includes both single-family homes and condominiums. The last time the number of houses sold in the Rockford area was that high was August 2007, the year before the recession, when 577 properties were sold.

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A view of the Jefferson Street Bridge in Rockford Illinois.

"Summer is a traditionally busy season for real estate, but June saw buyers come out in force looking for their dream homes," association CEO Steve Bois said in a news release. "June was a truly remarkable month in housing sales in the Rockford market."

The three-month rolling average price of a Rockford home as of last month was $137,073, 4.5% higher from $131,122 last June and the highest monthly price in almost 10 years.

Housing inventory was down almost 11% from last June but up 18% from May.

Twenty new homes were sold in June, four times the same month last year and the highest monthly total since June 2010.

So far this year, the Rockford market experienced a 1.7% increase in total sales from the first six months and a 5.5% increase in the average sale price.

Tribune Content Agency
Purchase Home prices Housing inventory Housing markets Illinois
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