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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sheridan is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Sheridan was a Seller's Market.

Key Takeaway

Sheridan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Sheridan, IL

How much do homes in Sheridan, IL cost?

Median Sold Price

$337,450

$140/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$65,000(-16.2%)

Key Takeaway

Homes in Sheridan have sold for 16.2% less than they did a month ago.

Summary: The median home sold price in Sheridan was $337,450 in November 2024, down 16.2% from last month, and the median price per square foot was $140.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 --
N/A
3 -$335K
N/A
4 $402.4K$339.9K
-15.5%
5+ --
N/A

Summary: Sheridan housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 15.5%, and 5+ bedroom homes did not change.

Housing Supply in Sheridan, IL

How many homes are available in Sheridan, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1016+60.0%

Summary: The Sheridan real estate market had 16 homes for sale in November 2024, a 60.0% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 48
+100.0%
4 45
+25.0%
5+ 12
+100.0%

Summary: The Sheridan housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
220.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sheridan, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Sheridan in November 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for Sheridan, IL

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

Average Sale Time

Oct 2024Nov 2024CHANGE
19 Days88 Days+351.3%

Summary: Homes in Sheridan had an average of 88 days on market in Nov 2024, up by 351.3% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Sheridan has remained consistent over time.

Summary: During November 2024, 2 homes were sold in Sheridan; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% 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 21 Days Ago

Newest Listings in Sheridan, IL

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What housing markets are near Sheridan, IL?