Is South Beloit, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Beloit has remained a Seller's Market.
Housing Prices in South Beloit, IL
How much do homes in South Beloit, IL cost?
Median Sold Price
$207,500
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Beloit was $207,500 in May 2024, up 12.2% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $52K | $115K | +121.2% |
2 Bedrooms | $115K | $160K | +39.1% |
3 Bedrooms | $205.5K | $227K | +10.5% |
4 Bedrooms | $114.3K | $265K | +131.8% |
5+ Bedrooms | - | - | N/A |
Summary: South Beloit housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 121.2%, 2 bedroom homes increased by 39.1%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 131.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Rockton Township | $218.7K | $246K | +12.5% |
Turtle | $250K | $281K | +12.4% |
South Beloit | $185K | $207.5K | +12.2% |
Roscoe Township | $265K | $267K | +0.8% |
Beloit | $182.5K | $179.9K | -1.4% |
Housing Supply in South Beloit, IL
How many homes are available in South Beloit, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 21 | +16.7% |
Summary: The South Beloit real estate market had 21 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 4 | +300.0% |
3 Bedrooms | 12 | 12 | 0.0% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Beloit 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 300%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 8 | +300.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in South Beloit in May 2024, up by 300.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for South Beloit, IL
How long does it take to sell a home in South Beloit, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 15 Days | -19.5% |
Summary: Homes in South Beloit had an average of 15 days on market in May 2024, down by 19.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in South Beloit; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.