Is Belvidere, 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, Belvidere has remained a Seller's Market.
Housing Prices in Belvidere, IL
How much do homes in Belvidere, IL cost?
Median Sold Price
$246,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Belvidere was $246,000 in May 2024, up 36.7% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $85K | N/A |
2 Bedrooms | $129.9K | $146.5K | +12.7% |
3 Bedrooms | $193.5K | $235K | +21.4% |
4 Bedrooms | $212.6K | $307.5K | +44.6% |
5+ Bedrooms | $189.9K | $325K | +71.1% |
Summary: Belvidere 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 12.7%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 44.6%, and 5+ bedroom homes increased by 71.1%.
Median Sold Price Compared To Nearby Cities
Belvidere | $180K | $246K | +36.7% |
Belvidere Township | $215K | $256K | +19.1% |
Cherry Valley | $259.2K | $277.5K | +7.0% |
Bonus Township | $253K | $269.9K | +6.7% |
Flora Township | $135K | $115K | -14.8% |
Housing Supply in Belvidere, IL
How many homes are available in Belvidere, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
63 | 63 | 0.0% |
Summary: The Belvidere real estate market had 63 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 8 | +33.3% |
3 Bedrooms | 33 | 35 | +6.1% |
4 Bedrooms | 20 | 14 | -30.0% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Belvidere 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 33.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 24 | +9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Belvidere in May 2024, up by 9.1% month-over-month. Of the 24 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Belvidere, IL
How long does it take to sell a home in Belvidere, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
15 Days | 24 Days | +64.5% |
Summary: Homes in Belvidere had an average of 24 days on market in May 2024, up by 64.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 24 homes were sold in Belvidere; 75% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.