Is Sandwich, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sandwich is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Sandwich, IL

How much do homes in Sandwich, IL cost?

Median Sold Price

$296,000

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$46,550(+18.7%)

Key Takeaway

Homes in Sandwich have sold for 18.7% more than they did a year ago.

Summary: The median home sold price in Sandwich was $296,000 in May 2024, up 18.7% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $150K-
N/A
2 $183K$190K
+3.8%
3 $260K$291.5K
+12.1%
4 $279.5K$336.4K
+20.4%
5+ $285K$354K
+24.2%

Summary: Sandwich 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 3.8%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes increased by 24.2%.

Median Sold Price Compared To Nearby Cities

Somonauk Township
+31.5%
Northville Township
+27.9%
Sandwich
+18.7%
Sandwich Township
+17.2%
Plano
+9.8%

Housing Supply in Sandwich, IL

How many homes are available in Sandwich, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3641+13.9%

Summary: The Sandwich real estate market had 41 homes for sale in May 2024, a 13.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 109
-10.0%
3 1425
+78.6%
4 127
-41.7%
5+ 00
0.0%

Summary: The Sandwich 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 decreased by 10%, 3 bedroom homes increased by 78.6%, 4 bedroom homes decreased by 41.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1016+60.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sandwich, you could pay more than the asking price. 37.5% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in Sandwich in May 2024, up by 60.0% month-over-month. Of the 16 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.

Days on Market for Sandwich, IL

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

Average Sale Time

May 2023May 2024CHANGE
23 Days25 Days+9.1%

Summary: Homes in Sandwich had an average of 25 days on market in May 2024, up by 9.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 16 homes were sold in Sandwich; 69% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% 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 Sandwich, IL

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