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 October 2023

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.

Housing Prices in Belvidere, IL

How much do homes in Belvidere, IL cost?

Median Sold Price

$250,500

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$51,500(+25.9%)

Key Takeaway

Homes in Belvidere have sold for 25.9% more than they did a year ago.

Summary: The median home sold price in Belvidere was $250,500 in October 2024, up 25.9% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$85K
N/A
2 $136K$155K
+14.0%
3 $210K$247K
+17.6%
4 $254.9K$308.7K
+21.1%
5+ $189.9K$308.5K
+62.5%

Summary: Belvidere housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 62.5%.

Median Sold Price Compared To Nearby Cities

Belvidere
+25.9%
Belvidere Township
+17.9%
Flora Township
-1.9%
Cherry Valley
-2.9%

Housing Supply in Belvidere, IL

How many homes are available in Belvidere, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9096+6.7%

Summary: The Belvidere real estate market had 96 homes for sale in October 2024, a 6.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 612
+100.0%
3 4750
+6.4%
4 2423
-4.2%
5+ 1310
-23.1%

Summary: The Belvidere housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 6.4%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 23.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3028-6.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 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. 46.4% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in Belvidere in October 2024, down by 6.7% month-over-month. Of the 28 sold homes, 36% were sold under asking, 18% were sold at asking, and 46% were sold over asking.

Days on Market for Belvidere, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
27 Days19 Days-29.5%

Summary: Homes in Belvidere had an average of 19 days on market in Oct 2024, down by 29.5% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

5 Homes Were 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.

Summary: During October 2024, 28 homes were sold in Belvidere; 82% of homes were sold within 30 days, 18% 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 20 Days Ago

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