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 November 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

$135/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$50,500(+25.3%)

Key Takeaway

Homes in Belvidere have sold for 25.3% more than they did a year ago.

Summary: The median home sold price in Belvidere was $250,500 in November 2024, up 25.3% from last year, and the median price per square foot was $135.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $85K-
N/A
2 $143.9K$155K
+7.7%
3 $215K$247K
+14.9%
4 $252.5K$311.2K
+23.3%
5+ $207.7K$312K
+50.2%

Summary: Belvidere housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes increased by 50.2%.

Median Sold Price Compared To Nearby Cities

Belvidere
+25.3%
Belvidere Township
+20.5%
Cherry Valley
-0.3%
Flora Township
-1.1%

Housing Supply in Belvidere, IL

How many homes are available in Belvidere, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9884-14.3%

Summary: The Belvidere real estate market had 84 homes for sale in November 2024, a 14.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 1310
-23.1%
3 5143
-15.7%
4 2322
-4.3%
5+ 108
-20.0%

Summary: The Belvidere housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.1%, 3 bedroom homes decreased by 15.7%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3023-23.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

11 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. 47.8% of homes here sold above asking price last month.

Summary: A total of 23 homes were sold or pending in Belvidere in November 2024, down by 23.3% month-over-month. Of the 23 sold homes, 30% were sold under asking, 22% were sold at asking, and 48% 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

Nov 2023Nov 2024CHANGE
19 Days26 Days+36.3%

Summary: Homes in Belvidere had an average of 26 days on market in Nov 2024, up by 36.3% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 November 2024, 23 homes were sold in Belvidere; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% 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 21 Days Ago

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