Is Somonauk, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Somonauk has remained a Seller's Market.
Housing Prices in Somonauk, IL
How much do homes in Somonauk, IL cost?
Median Sold Price
$292,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Somonauk was $292,000 in May 2024, up 35.8% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $200K | N/A |
2 Bedrooms | $175.7K | $215K | +22.4% |
3 Bedrooms | $235K | $297.4K | +26.6% |
4 Bedrooms | $207.5K | $291K | +40.2% |
5+ Bedrooms | $197.4K | $645K | +226.7% |
Summary: Somonauk 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 22.4%, 3 bedroom homes increased by 26.6%, 4 bedroom homes increased by 40.2%, and 5+ bedroom homes increased by 226.7%.
Median Sold Price Compared To Nearby Cities
Somonauk | $215K | $292K | +35.8% |
Somonauk Township | $222K | $292K | +31.5% |
Northville Township | $280K | $358K | +27.9% |
Sandwich | $249.4K | $296K | +18.7% |
Sandwich Township | $252.5K | $296K | +17.2% |
Housing Supply in Somonauk, IL
How many homes are available in Somonauk, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
21 | 23 | +9.5% |
Summary: The Somonauk 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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 11 | 10 | -9.1% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Somonauk 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 2024 | May 2024 | CHANGE |
---|---|---|
7 | 7 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Somonauk 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, IL
How long does it take to sell a home in Somonauk, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
10 Days | 75 Days | +604.5% |
Summary: Homes in Somonauk had an average of 75 days on market in May 2024, up by 604.5% 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
Summary: During May 2024, 7 homes were sold in Somonauk; 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.