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 November 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

$208,000

$128/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$8,000(+4.0%)

Key Takeaway

Homes in South Beloit have sold for 4% more than they did a year ago.

Summary: The median home sold price in South Beloit was $208,000 in November 2024, up 4% from last year, and the median price per square foot was $128.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $99.5K-
N/A
2 $115.7K$160K
+38.2%
3 $221.7K$235K
+6.0%
4 $265K$220K
-17.0%
5+ --
N/A

Summary: South Beloit 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 38.2%, 3 bedroom homes increased by 6%, 4 bedroom homes decreased by 17%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Rockton Township
+10.6%
Roscoe Township
+10.2%
South Beloit
+4.0%

Housing Supply in South Beloit, IL

How many homes are available in South Beloit, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
15150.0%

Summary: The South Beloit real estate market had 15 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 54
-20.0%
3 67
+16.7%
4 44
0.0%
5+ 00
0.0%

Summary: The South Beloit 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 20%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was 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 could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in South Beloit in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% 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

Nov 2023Nov 2024CHANGE
26 Days44 Days+71.2%

Summary: Homes in South Beloit had an average of 44 days on market in Nov 2024, up by 71.2% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in South Beloit has remained consistent over time.

Summary: During November 2024, 3 homes were sold in South Beloit; 0% of homes were sold within 30 days, 67% 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 21 Days Ago

Newest Listings in South Beloit, IL

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