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 Last Month

Since last month, 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

$172,000

$143/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

-$35,500(-17.1%)

Key Takeaway

Homes in South Beloit have sold for 17.1% less than they did a month ago.

Summary: The median home sold price in South Beloit was $172,000 in March 2024, down 17.1% from last month, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 --
N/A
2 -$160K
N/A
3 $140K$217K
+55.0%
4 $275K-
N/A
5+ --
N/A

Summary: South Beloit housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 55%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Beloit
+11.4%
South Beloit
-17.1%

Housing Supply in South Beloit, IL

How many homes are available in South Beloit, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1213+8.3%

Summary: The South Beloit real estate market had 13 homes for sale in March 2024, a 8.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 76
-14.3%
4 23
+50.0%
5+ 00
0.0%

Summary: The South Beloit housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were 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 may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in South Beloit in March 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% 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 2024Mar 2024CHANGE
29 Days14 Days-50.8%

Summary: Homes in South Beloit had an average of 14 days on market in Mar 2024, down by 50.8% compared to last month.

Breakdown of Home Sale Times

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

Summary: During March 2024, 5 homes were sold in South Beloit; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% 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 25 Days Ago

Newest Listings in South Beloit, IL

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