Is Belvidere, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Belvidere has remained a Seller's Market.
Housing Prices in Belvidere, IL
How much do homes in Belvidere, IL cost?
Median Sold Price
$235,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Belvidere was $235,000 in April 2024, up 32.8% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $85K | N/A |
2 Bedrooms | $129.9K | $148.2K | +14.1% |
3 Bedrooms | $183K | $230K | +25.7% |
4 Bedrooms | $230K | $305K | +32.6% |
5+ Bedrooms | $183K | $310K | +69.4% |
Summary: Belvidere housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 25.7%, 4 bedroom homes increased by 32.6%, and 5+ bedroom homes increased by 69.4%.
Median Sold Price Compared To Nearby Cities
Belvidere | $177K | $235K | +32.8% |
Belvidere Township | $215K | $252.4K | +17.4% |
Cherry Valley | $254.2K | $277K | +8.9% |
Bonus Township | $253K | $264.9K | +4.7% |
Flora Township | $128.5K | $119.5K | -7.0% |
Housing Supply in Belvidere, IL
How many homes are available in Belvidere, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
61 | 60 | -1.6% |
Summary: The Belvidere real estate market had 60 homes for sale in April 2024, a 1.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 6 | +200.0% |
3 Bedrooms | 33 | 33 | 0.0% |
4 Bedrooms | 21 | 18 | -14.3% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Belvidere housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 18 | -25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Belvidere in April 2024, down by 25.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 22% were sold at asking, and 50% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
20 Days | 61 Days | +195.0% |
Summary: Homes in Belvidere had an average of 61 days on market in Apr 2024, up by 195% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Belvidere; 78% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.