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Thursday, April 25, 2024

Rapids City home prices fall in the third quarter of 2018

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The median sale price of a home sold in the third quarter of 2018 in Rapids City fell by $178,500 while total sales decreased by 33.3%, according to BlockShopper.com.

From July through September of 2018, there were two homes sold, with a median sale price of $36,500 - a 83% decrease over the $215,000 median sale price for the same period of the previous year. There were three homes sold in Rapids City in the third quarter of 2017.

The median sales tax in Rapids City for the most recent year with available data, 2017, was $2,890.40, approximately 7.9% of the median home sale price for the third quarter of 2018.

The following table compares Rapids City to other Rock Island County cities with similar median sales prices in the third quarter of 2018:

CityJuly - Sept. 2018 Home SalesJuly - Sept. 2017 Home Sales% change (Total Home Sales)July - Sept. 2018 Median Sales PriceJuly - Sept. 2017 Median Sales Price% change (Median Sales Price)
Hampton416-75%$174,000$140,25024.1%
Coal Valley226-92.3%$162,500$167,700-3.1%
Fruitland12-50%$148,500$112,75031.7%
Milan1034-70.6%$133,450$111,95019.2%
Cordova16-83.3%$128,000$198,950-35.7%
East Moline4195-56.8%$115,000$97,00018.6%
Silvis1030-66.7%$113,000$83,87534.7%
Moline45263-82.9%$112,500$99,00013.6%
Rock Island27212-87.3%$86,500$84,7502.1%
Reynolds15-80%$65,000$118,860-45.3%
Rapids City23-33.3%$36,500$215,000-83%

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