Is Rock Island, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rock Island is a buyer's market

Buyer's
Market

Difference Since May 2023

Since last year, Rock Island has remained a Buyer's Market.

Key Takeaway

Rock Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Rock Island, TN

How much do homes in Rock Island, TN cost?

Median Sold Price

$272,000

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$17,000(+6.7%)

Key Takeaway

Homes in Rock Island have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Rock Island was $272,000 in May 2024, up 6.7% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $150K$289.9K
+93.3%
3 $255K$234.5K
-8.0%
4 $550K$399.9K
-27.3%
5+ $2.1M$1.4M
-30.5%

Summary: Rock Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 93.3%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes decreased by 30.5%.

Housing Supply in Rock Island, TN

How many homes are available in Rock Island, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1623+43.8%

Summary: The Rock Island real estate market had 23 homes for sale in May 2024, a 43.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 13
+200.0%
3 1113
+18.2%
4 34
+33.3%
5+ 13
+200.0%

Summary: The Rock Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Apr 2024May 2024CHANGE
02+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rock Island, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Rock Island in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Rock Island, TN

How long does it take to sell a home in Rock Island, TN?

Average Sale Time

May 2023May 2024CHANGE
28 Days37 Days+33.9%

Summary: Homes in Rock Island had an average of 37 days on market in May 2024, up by 33.9% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Rock Island has remained consistent over time.

Summary: During May 2024, 2 homes were sold in Rock Island; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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