The real estate market is showing signs of life — in many areas, home prices are rising, or at least stabilizing, and stories about bidding wars are starting to surface.
While all of this is good news for sellers, buyers remain in the driver’s seat in many parts of the country. To determine the metros where buyers had the most negotiating power, Zillow looked at factors including percentage of listings with price cuts, the median price cut, foreclosure re-sales, and the difference between the final list price and the final sale price. You may be surprised at which places made our Best Places to Bargain list.
Home values in Rockford are quite affordable compared to the rest of the country. The Zillow Home Value Index shows the median home value in Rockford is currently $77,700, well below the national median of $146,200. Nearly 40 percent of listings in March had a price cut and the median price cut was 8 percent. Price cuts usually signal to buyers there is room to negotiate and that’s no exception here.
120 N Highland Ave, Rockford, IL 61107
Home for sale: $148,000
Price cut: $10,000 (April 25)
This 4-bed, 1.5-bath Tudor-style home spans two lots on 0.32 acres and offers features of its 1930 build date: leaded glass windows, French doors, and hardwood floors. It has 2,080-sq ft of living space.