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 October 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

$315,000

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$77,500(+32.6%)

Key Takeaway

Homes in Somonauk Township have sold for 32.6% more than they did a year ago.

Summary: The median home sold price in Somonauk Township was $315,000 in October 2024, up 32.6% from last year, and the median price per square foot was $196.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $200K-
N/A
2 $199K$232K
+16.6%
3 $252K$315K
+25.0%
4 $260.2K$403.5K
+55.1%
5+ $585K$469.9K
-19.7%

Summary: Somonauk Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.6%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 55.1%, and 5+ bedroom homes decreased by 19.7%.

Median Sold Price Compared To Nearby Cities

Somonauk
+33.3%
Somonauk Township
+32.6%
Northville Township
+14.5%
Sandwich Township
+3.6%
Sandwich
+3.6%

Housing Supply in Somonauk Township, IL

How many homes are available in Somonauk Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1917-10.5%

Summary: The Somonauk Township real estate market had 17 homes for sale in October 2024, a 10.5% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 97
-22.2%
4 67
+16.7%
5+ 11
0.0%

Summary: The Somonauk Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
105-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 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, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in Somonauk Township in October 2024, down by 50.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% 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

Oct 2023Oct 2024CHANGE
12 Days28 Days+127.2%

Summary: Homes in Somonauk Township had an average of 28 days on market in Oct 2024, up by 127.2% compared to last year.

Breakdown of Home Sale Times

3 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

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

Summary: During October 2024, 5 homes were sold in Somonauk Township; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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 20 Days Ago

Newest Listings in Somonauk Township, IL

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