The housing market in South Beloit continues to see strong price appreciation, with values up 36.8% compared to last year. Home prices have increased 13.0% in the past month alone. With 11 active listings, inventory is 1000% higher than seasonal norms. Homes are now taking an average of 22 days to sell, significantly longer than the 6 days typical for this market. Only 9.1% of listings saw price reductions, suggesting sellers are confident in their pricing. Only 12.5% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the South Beloit market with the affordability index at 171.8. Based on current market indicators, home prices in South Beloit are projected to decrease by approximately 16.0% over the next month.