Is Belleville, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Belleville is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Belleville has remained a Seller's Market.

Key Takeaway

Belleville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Belleville, IL

How much do homes in Belleville, IL cost?

Median Sold Price

$175,000

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$25,610(+17.1%)

Key Takeaway

Homes in Belleville have sold for 17.1% more than they did a year ago.

Summary: The median home sold price in Belleville was $175,000 in February 2024, up 17.1% from last year, and the median price per square foot was $104.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $60K$53.5K
-10.8%
2 $110K$120K
+9.1%
3 $150.5K$174K
+15.6%
4 $250K$281K
+12.4%
5+ $298K$350K
+17.4%

Summary: Belleville housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.8%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 17.4%.

Median Sold Price Compared To Nearby Cities

Belleville
+17.1%
Belleville Township
+17.0%
Stookey Township
+12.9%
Saint Clair Township
+0.7%
Swansea
-5.6%

Housing Supply in Belleville, IL

How many homes are available in Belleville, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3173180.3%

Summary: The Belleville real estate market had 318 homes for sale in February 2024, a 0.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 75
-28.6%
2 6567
+3.1%
3 160152
-5.0%
4 6470
+9.4%
5+ 2124
+14.3%

Summary: The Belleville housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
7687+14.5%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Belleville, you may be able to get a good deal. 46% of homes here sold below asking price last month.

Summary: A total of 87 homes were sold or pending in Belleville in February 2024, up by 14.5% month-over-month. Of the 87 sold homes, 46% were sold under asking, 25% were sold at asking, and 29% were sold over asking.

Days on Market for Belleville, IL

How long does it take to sell a home in Belleville, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
41 Days55 Days+33.7%

Summary: Homes in Belleville had an average of 55 days on market in Feb 2024, up by 33.7% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

35 Homes Were Sold
In 30 - 90 Days

19 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Belleville has remained consistent over time.

Summary: During February 2024, 87 homes were sold in Belleville; 37% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Belleville, IL

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