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Real Estate News

Local Housing Market

Rockford housing market thriving despite pandemic

January 1, 2021- Although many industries have been negatively affected by the coronavirus pandemic, the local housing market has been doing quite well, according to local sales data.

More homes are being sold and at higher prices as mortgage rates have dropped.

The housing market has been bustling here and across the country. According to a new report from Redfin, which collected housing market takeaways for more than 400 U.S. metro areas during the four-week period ending Dec. 20, pending home sales were up 34% year over year. In the single week ending December 20, pending sales were up 30% from the same week a year earlier.

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Study shows how many people in Rockford moved in the last year

January 15, 2021- In the past year, thousands of people have moved. Now we have an idea where those people came from.

According to a study from Construction Coverage, Rockford ranked as the 76th most transient small city in the United States. The study also found:

  • 15.4 percent of population moved in the past year.
  • 21,747 people moved in the past year.
  • 16,460 people moved within the same county.
  • 2,906 people moved from a different county, but stayed within the same state.
  • 2,144 people moved from a different state.
  • 237 people moved from abroad.
  • 13.8 percent of the population is age 20 - 29.

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Rockford region's housing market hits best year on record in 2020

January 27, 2021- The Rockford region's housing market has seen one of its best years despite the COVID-19 pandemic.

Rockford Area Realtors held a joint news conference Wednesday at its office with the Greater Rockford Growth Partnership to announce housing market numbers.

“We’ve hit our all-time average sales high as well as our low in terms of inventory,” said Conor Brown, CEO of Rockford Area Realtors.

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Local leaders look back on record-breaking 2020 for Rockford housing market

January 27, 2021- The Rockford housing market had one of its best years on record in 2020.

According to Rockford Area Realtors, 5,236 properties were sold during the year. It was the first time since 2007 more than 5,000 were sold. The average sales price was $151,714, the highest average ever. 684 homes were available each month. In 2019, 1,029 properties were available each month, making 2020 the biggest drop in monthly inventory in Rockford housing history.

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2020 housing numbers best on record in Rockford

January 27, 2021-Rockford’s latest housing numbers are in and despite a global pandemic, real estate agents say 2020 was our region’s best year on record.

Over the last 12 months, the average price of a home rose over $12,000. That led to the highest average price ever–nearly $152,000.

Rockford Area Realtors CEO Conor Brown says a strong housing market often leads to a strong economy.

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Rockford housing market enjoyed historic year

January 27, 2021 - Many businesses struggled throughout 2020, but the housing market in the Stateline flourished.

Houses up for sale were not on the market for long. Turnaround times for home sales averaged 62 days at the beginning of 2020, but only took 27 days by the end of the year. Average mortgage prices hit record lows, but average sale prices were up $20,000. Home inventory for the Rockford Area Realtors also hit record lows. Rockford Area Realtors CEO Connor Brown says that inventory is expected to pick up as the weather warms.

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Home sales remain strong in Illinois

February 3, 2021 -Despite the COVID-19 pandemic, the Illinois real estate market remains red hot.

A surge in home sales that began shortly after real estate transactions resumed last spring after the state’s initial stay-at-home order, has shown little sign of slowing down as the industry goes through what is usually a slow time of year.

Interest rates are low, sales are up, the price of homes has been steadily increasing over the past year, and housing inventories around the state are low.

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Realtors report housing shortage in northern Illinois

February 26, 2021-The Northern Region of Illinois is currently facing a housing shortage and experts say that this is lowest shortage ever.

Housing for the Northern Illinois area fell 60 percent in one year and right now there are just 359 homes for sale in Boone, Ogle and Winnebago counties according Rockford area realtors.

According Connor Brown the CEO of Rockford area Realtors the demand for housing is currently going up and isn't expected to let up anytime soon.

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Local housing market off to hot start in 2021

February 26, 2021- Home sales in Winnebago, Boone and Ogle counties have shattered records all through last year.

That momentum carried into January, with a 60% drop-off in inventory compared to 2020.

Rockford Area Realtors CEO Connor Brown says there were only 359 homes on the market, the lowest level ever, with only enough inventory to last 25 days.

Brown says those on the hunt for their dream home should act fast.

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Why Rockford's real estate industry may be the most competitive in its history

March 17, 2021 - When the coronavirus upended her life as a bartender last year, Dani Powers seized an opportunity to make a career switch she had long considered.

Powers, 36, had spent her entire adult life working in the hospitality industry, but it was brutalized by pandemic-related shutdowns last year, stripping an estimated $57.4 million out of restaurants and bars in Rockford alone, according to city tax data.

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Rockford area homes selling at record rate, experts say

March 18, 2021- Homebuyers in the stateline face a limited number of choices as experts say only 272 homes were available on the market in February.

There were 830 homes on the market during the same time period last year.

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According to Rockford Area Realtors, that’s the largest year-to-year drop in inventory ever.

California couple moves to Rockton, opens Airbnb out of historic home

March 21, 2021- A young couple make the move from California to the Stateline, saying its historic homes and emerging downtown were a big reason for the move.

We caught up with the couple who showed us the historic home they bought and are now using as an Airbnb.

“Small towns have so much life and it’s really cool to come back and see that after being in big cities for so long,” explained Cody and Luisa Wright.

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REALTORS® in the News

Young Professionals Network hosts fundraiser benefiting Family Peace Center

March 11, 2020 - 23 News Anchor Shannon Kelly had the chance to get behind the bar along with Mayor Tom Mcnamara for the Rockford area realtors Young Professionals Network celebrity bartending event. The main attraction was dare-aoke.

Read more HERE.

Rockford Area REALTORS® donate $10K to help local Family Peace Center

December 6, 2020 - The Young Professionals Network of the Rockford Area REALTORS® (RAR) showed its support this week for a project designed to help local survivors of domestic violence, sexual assault, child abuse, elder abuse and human trafficking.

Read more HERE.

Three local REALTOR® associations support their communities

August 14, 2020- Members of the Heartland REALTOR® Organization (HRO) of greater McHenry County, the REALTOR® Association of Northwestern Illinois (RANWIL) and the Rockford Area REALTORS® showed their community spirit in memorable ways during the COVID-19 pandemic.

As inspiration for their actions, the local associations drew from the RPAC Hearts for Healthcare Workers Challenge.

Read more HERE

Rockford Area Realtors teams up with local food bank this holiday season

November 19, 2020- A group of Stateline realtors teamed up with the Northern Illinois Food Bank to ensure the community doesn't go hungry.

Rockford Area Realtors usually hosts an annual holiday event where people donate funds and the groups donate the money to a local non-profit. This year, because of the pandemic, it wasn't able to host the event.

Read more HERE.

Rockford Area Realtors contributes to Rebuilding Rockford campaign

January 21, 2021 - The Rockford Area Realtors presented a $10,000 check to the community-led Rebuilding Rockford Campaign to express support for the extension of a city of Rockford public roads and infrastructure referendum that will appear on the Consolidated Election ballot on Tuesday, February 23, 2021.

Rockford Area Realtors supports the community-led campaign with $10,000 to continue its efforts to educate voters on the extension of the 1 percent public roads and infrastructure sales tax.

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