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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sycamore is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Sycamore, IL

How much do homes in Sycamore, IL cost?

Median Sold Price

$312,450

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$61,711(+24.6%)

Key Takeaway

Homes in Sycamore have sold for 24.6% more than they did a year ago.

Summary: The median home sold price in Sycamore was $312,450 in May 2024, up 24.6% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$285K
N/A
2 $175K$220K
+25.7%
3 $251K$321.8K
+28.2%
4 $332K$385K
+16.0%
5+ $400K$359K
-10.3%

Summary: Sycamore 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 25.7%, 3 bedroom homes increased by 28.2%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 10.3%.

Median Sold Price Compared To Nearby Cities

Sycamore
+24.6%
Sycamore Township
+24.4%
DeKalb
+15.2%
DeKalb Township
+11.9%
Cortland Township
+9.3%

Housing Supply in Sycamore, IL

How many homes are available in Sycamore, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
97105+8.2%

Summary: The Sycamore real estate market had 105 homes for sale in May 2024, a 8.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 2923
-20.7%
3 3546
+31.4%
4 2733
+22.2%
5+ 63
-50.0%

Summary: The Sycamore 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 20.7%, 3 bedroom homes increased by 31.4%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2329+26.1%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sycamore, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.

Summary: A total of 29 homes were sold or pending in Sycamore in May 2024, up by 26.1% month-over-month. Of the 29 sold homes, 34% were sold under asking, 21% were sold at asking, and 45% were sold over asking.

Days on Market for Sycamore, IL

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

Average Sale Time

May 2023May 2024CHANGE
23 Days32 Days+39.5%

Summary: Homes in Sycamore had an average of 32 days on market in May 2024, up by 39.5% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 29 homes were sold in Sycamore; 76% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 10% 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 5 Days Ago

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