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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Belvidere is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Belvidere, IL cost?

Median Sold Price

$170,000

$111/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$12,050(+7.6%)

Key Takeaway

Homes in Belvidere have sold for 7.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $54K$82.5K
+52.8%
2 $108K$131K
+21.3%
3 $158.5K$175K
+10.4%
4 $195K$224.9K
+15.3%
5+ $176K$196K
+11.4%

Median Sold Price Compared To Nearby Cities

Belvidere
+7.6%
Belvidere Township
+2.0%
Bonus Township
+1.7%
Cherry Valley
-2.4%

How many homes are available in Belvidere, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
6858-14.7%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 117
-36.4%
3 3733
-10.8%
4 1716
-5.9%
5+ 32
-33.3%

Number of Homes Sold

Jul 2022Aug 2022%
2615-42.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Belvidere, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
23 Days12 Days-46.2%

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Belvidere, IL

Number of homes for sale in Belvidere, IL real estate market have reached 58. Between July 2022 and August 2022, Belvidere, IL real estate market has seen decrease in the number of listings by 14.7%. The median list price of listings available in August 2022 was $170,000, while the average time on the real estate market was 12 days. Listing prices have changed in this real estate market between July 2022 and August 2022: prices of 1 bedroom properties went up by 52.8%, prices of 2 bedrooms properties went up by 21.3%, prices of 3 bedrooms properties went up by 10.4%, prices of 4 bedrooms properties went up by 15.3%, prices of 5 bedrooms properties increased by 11.4%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes did not move, volume of 2 bedrooms homes went down by 36.4%, number of 3 bedrooms homes decreased by 10.8%, the quantity of 4 bedrooms homes went down by 5.9%, 5 bedrooms homes became 33.3% less available. Belvidere, IL housing market in August 2022 saw over 7 listings sold above listed price, more than 2 sold at listed price and over 6 sold below.

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