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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sheffield is a neutral's market

Buyer's
Market

Difference Since May 2023

Since last year, Sheffield has remained a Neutral Market.

Key Takeaway

Sheffield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Sheffield, IL

How much do homes in Sheffield, IL cost?

Median Sold Price

$100,700

$83/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$700(+0.7%)

Key Takeaway

Homes in Sheffield have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in Sheffield was $100,700 in May 2024, up 0.7% from last year, and the median price per square foot was $83.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $70K$80K
+14.3%
3 $82.5K$100.7K
+22.1%
4 $178K$176K
-1.1%
5+ $475.1K-
N/A

Summary: Sheffield 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 14.3%, 3 bedroom homes increased by 22.1%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Sheffield
+0.7%
Concord Township
-28.9%

Housing Supply in Sheffield, IL

How many homes are available in Sheffield, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
660.0%

Summary: The Sheffield real estate market had 6 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 22
0.0%
3 43
-25.0%
4 01
+100.0%
5+ 00
0.0%

Summary: The Sheffield 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

0 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 Sheffield, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Sheffield in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Sheffield, IL

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

Average Sale Time

May 2023May 2024CHANGE
15 Days6 Days-60.0%

Summary: Homes in Sheffield had an average of 6 days on market in May 2024, down by 60% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 1 homes were sold in Sheffield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 4 Days Ago

Newest Listings in Sheffield, IL

Nearby Markets to Sheffield, IL