Is Belvidere Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Belvidere Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Belvidere Township has remained a Seller's Market.

Key Takeaway

Belvidere Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Belvidere Township, IL

How much do homes in Belvidere Township, IL cost?

Median Sold Price

$256,000

$132/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$41,000(+19.1%)

Key Takeaway

Homes in Belvidere Township have sold for 19.1% more than they did a year ago.

Summary: The median home sold price in Belvidere Township was $256,000 in May 2024, up 19.1% from last year, and the median price per square foot was $132.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$85K
N/A
2 $130K$150K
+15.4%
3 $210K$246.5K
+17.4%
4 $297.2K$315K
+6.0%
5+ $359K$340K
-5.3%

Summary: Belvidere Township 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 15.4%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 5.3%.

Median Sold Price Compared To Nearby Cities

Belvidere
+36.7%
Belvidere Township
+19.1%
Caledonia Township
+13.3%
Poplar Grove
-10.5%

Housing Supply in Belvidere Township, IL

How many homes are available in Belvidere Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7478+5.4%

Summary: The Belvidere Township real estate market had 78 homes for sale in May 2024, a 5.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 78
+14.3%
3 3740
+8.1%
4 2420
-16.7%
5+ 610
+66.7%

Summary: The Belvidere Township 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 increased by 14.3%, 3 bedroom homes increased by 8.1%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2427+12.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

9 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 Township, you could pay more than the asking price. 48.1% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Belvidere Township in May 2024, up by 12.5% month-over-month. Of the 27 sold homes, 19% were sold under asking, 33% were sold at asking, and 48% were sold over asking.

Days on Market for Belvidere Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
14 Days24 Days+67.8%

Summary: Homes in Belvidere Township had an average of 24 days on market in May 2024, up by 67.8% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Belvidere Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 27 homes were sold in Belvidere Township; 74% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 11% 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 1 Day Ago

Newest Listings in Belvidere Township, IL

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