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 May 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

$207,500

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$22,500(+12.2%)

Key Takeaway

Homes in South Beloit have sold for 12.2% more than they did a year ago.

Summary: The median home sold price in South Beloit was $207,500 in May 2024, up 12.2% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $52K$115K
+121.2%
2 $115K$160K
+39.1%
3 $205.5K$227K
+10.5%
4 $114.3K$265K
+131.8%
5+ --
N/A

Summary: South Beloit housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 121.2%, 2 bedroom homes increased by 39.1%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 131.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Rockton Township
+12.5%
Turtle
+12.4%
South Beloit
+12.2%
Roscoe Township
+0.8%
Beloit
-1.4%

Housing Supply in South Beloit, IL

How many homes are available in South Beloit, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1821+16.7%

Summary: The South Beloit real estate market had 21 homes for sale in May 2024, a 16.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 14
+300.0%
3 1212
0.0%
4 55
0.0%
5+ 00
0.0%

Summary: The South Beloit 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 increased by 300%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
28+300.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 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. 37.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in South Beloit in May 2024, up by 300.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% 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

May 2023May 2024CHANGE
19 Days15 Days-19.5%

Summary: Homes in South Beloit had an average of 15 days on market in May 2024, down by 19.5% compared to last year.

Breakdown of Home Sale Times

6 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 May 2024, 8 homes were sold in South Beloit; 75% of homes were sold within 30 days, 13% 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 6 Days Ago

Newest Listings in South Beloit, IL

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