Is Bellwood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bellwood has remained a Seller's Market.
Housing Prices in Bellwood, IL
How much do homes in Bellwood, IL cost?
Median Sold Price
$238,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bellwood was $238,000 in May 2024, up 1.3% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $135K | N/A |
2 Bedrooms | $195K | $215K | +10.3% |
3 Bedrooms | $245K | $250K | +2.0% |
4 Bedrooms | $259.2K | $290K | +11.9% |
5+ Bedrooms | $252.5K | $225.2K | -10.8% |
Summary: Bellwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes decreased by 10.8%.
Median Sold Price Compared To Nearby Cities
Hillside | $249.9K | $264K | +5.6% |
Proviso Township | $284.2K | $299.9K | +5.5% |
Melrose Park | $290K | $300K | +3.4% |
Bellwood | $235K | $238K | +1.3% |
Berkeley | $283K | $270K | -4.6% |
Housing Supply in Bellwood, IL
How many homes are available in Bellwood, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
53 | 49 | -7.5% |
Summary: The Bellwood real estate market had 49 homes for sale in May 2024, a 7.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 13 | 12 | -7.7% |
3 Bedrooms | 22 | 19 | -13.6% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Bellwood 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 decreased by 7.7%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 17 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Bellwood in May 2024, the same as the previous month. Of the 17 sold homes, 59% were sold under asking, 12% were sold at asking, and 29% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
40 Days | 21 Days | -46.6% |
Summary: Homes in Bellwood had an average of 21 days on market in May 2024, down by 46.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 17 homes were sold in Bellwood; 82% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.