Is South Beloit, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Beloit is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in South Beloit, IL

How much do homes in South Beloit, IL cost?

Median Sold Price

$210,000

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$25,000(+13.5%)

Key Takeaway

Homes in South Beloit have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in South Beloit was $210,000 in February 2024, up 13.5% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $52K$99.5K
+91.3%
2 $115K$115.7K
+0.7%
3 $200.5K$226K
+12.7%
4 $68.6K$265K
+286.2%
5+ --
N/A

Summary: South Beloit housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 91.3%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 286.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

South Beloit
+13.5%
Rockton Township
+11.6%
Roscoe Township
-0.8%

Housing Supply in South Beloit, IL

How many homes are available in South Beloit, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
912+33.3%

Summary: The South Beloit real estate market had 12 homes for sale in February 2024, a 33.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 47
+75.0%
4 12
+100.0%
5+ 00
0.0%

Summary: The South Beloit housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
24+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Beloit, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in South Beloit in February 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for South Beloit, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
12 Days29 Days+145.8%

Summary: Homes in South Beloit had an average of 29 days on market in Feb 2024, up by 145.8% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 4 homes were sold in South Beloit; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% 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 4 Days Ago

Newest Listings in South Beloit, IL

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