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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Somonauk Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Somonauk Township, IL

How much do homes in Somonauk Township, IL cost?

Median Sold Price

$292,000

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$70,000(+31.5%)

Key Takeaway

Homes in Somonauk Township have sold for 31.5% more than they did a year ago.

Summary: The median home sold price in Somonauk Township was $292,000 in May 2024, up 31.5% from last year, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$200K
N/A
2 $193.9K$215K
+10.9%
3 $235K$297.4K
+26.6%
4 $252K$291K
+15.5%
5+ $197.4K$645K
+226.7%

Summary: Somonauk 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 10.9%, 3 bedroom homes increased by 26.6%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes increased by 226.7%.

Median Sold Price Compared To Nearby Cities

Somonauk
+35.8%
Somonauk Township
+31.5%
Northville Township
+27.9%
Sandwich
+18.7%
Sandwich Township
+17.2%

Housing Supply in Somonauk Township, IL

How many homes are available in Somonauk Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2123+9.5%

Summary: The Somonauk Township real estate market had 23 homes for sale in May 2024, a 9.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1110
-9.1%
4 89
+12.5%
5+ 12
+100.0%

Summary: The Somonauk 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 100%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
770.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Somonauk Township, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Somonauk Township in May 2024, the same as the previous month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.

Days on Market for Somonauk Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
9 Days75 Days+712.4%

Summary: Homes in Somonauk Township had an average of 75 days on market in May 2024, up by 712.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 7 homes were sold in Somonauk Township; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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 8 Days Ago

Newest Listings in Somonauk Township, IL

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