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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bellwood is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Bellwood, IL

How much do homes in Bellwood, IL cost?

Median Sold Price

$238,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,000(+1.3%)

Key Takeaway

Homes in Bellwood have sold for 1.3% more than they did a year ago.

Summary: The median home sold price in Bellwood was $238,000 in May 2024, up 1.3% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$135K
N/A
2 $195K$215K
+10.3%
3 $245K$250K
+2.0%
4 $259.2K$290K
+11.9%
5+ $252.5K$225.2K
-10.8%

Summary: Bellwood 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 10.3%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes decreased by 10.8%.

Median Sold Price Compared To Nearby Cities

Hillside
+5.6%
Proviso Township
+5.5%
Melrose Park
+3.4%
Bellwood
+1.3%
Berkeley
-4.6%

Housing Supply in Bellwood, IL

How many homes are available in Bellwood, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5349-7.5%

Summary: The Bellwood real estate market had 49 homes for sale in May 2024, a 7.5% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 1312
-7.7%
3 2219
-13.6%
4 89
+12.5%
5+ 87
-12.5%

Summary: The Bellwood 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 decreased by 7.7%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
17170.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bellwood, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Bellwood in May 2024, the same as the previous month. Of the 17 sold homes, 59% were sold under asking, 12% were sold at asking, and 29% were sold over asking.

Days on Market for Bellwood, IL

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

Average Sale Time

May 2023May 2024CHANGE
40 Days21 Days-46.6%

Summary: Homes in Bellwood had an average of 21 days on market in May 2024, down by 46.6% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bellwood are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 17 homes were sold in Bellwood; 82% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% 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 19 Days Ago

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