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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bellwood is a neutral's market

Buyer's
Market

Difference Since June 2023

At the same time last year, Bellwood was a Seller's Market.

Key Takeaway

Bellwood is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Bellwood, IL

How much do homes in Bellwood, IL cost?

Median Sold Price

$235,000

$187/sqft

Based on all homes sold in the last 12 months.

The Median Sold Price hasn't changed since June 2023.

Key Takeaway

The sold price of homes in Bellwood has remained the same since last year.

Summary: The median home sold price in Bellwood was $235,000 in June 2024, the same as last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 -$135K
N/A
2 $195K$210K
+7.7%
3 $242K$255K
+5.4%
4 $260K$290K
+11.5%
5+ $260K$212.7K
-18.2%

Summary: Bellwood housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes decreased by 18.2%.

Median Sold Price Compared To Nearby Cities

Proviso Township
+5.9%
Melrose Park
+3.4%
Hillside
+3.2%
Bellwood
0.0%
Berkeley
-3.0%

Housing Supply in Bellwood, IL

How many homes are available in Bellwood, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
4846-4.2%

Summary: The Bellwood real estate market had 46 homes for sale in June 2024, a 4.2% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 20
-100.0%
2 1216
+33.3%
3 1919
0.0%
4 106
-40.0%
5+ 55
0.0%

Summary: The Bellwood housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
187-61.1%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bellwood, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Bellwood in June 2024, down by 61.1% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% 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

Jun 2023Jun 2024CHANGE
47 Days41 Days-12.8%

Summary: Homes in Bellwood had an average of 41 days on market in Jun 2024, down by 12.8% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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 June 2024, 7 homes were sold in Bellwood; 71% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% 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 26 Days Ago

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