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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sheridan is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Sheridan was a Buyer's Market.

Key Takeaway

Sheridan 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 Sheridan, IL

How much do homes in Sheridan, IL cost?

Median Sold Price

$255,000

$161/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$77,500(+43.7%)

Key Takeaway

Homes in Sheridan have sold for 43.7% more than they did a year ago.

Summary: The median home sold price in Sheridan was $255,000 in February 2024, up 43.7% from last year, and the median price per square foot was $161.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 -$189.9K
N/A
3 $192.4K$265.9K
+38.2%
4 $172.2K$307.5K
+78.5%
5+ -$154.9K
N/A

Summary: Sheridan housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 38.2%, 4 bedroom homes increased by 78.5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Sheridan
+43.7%
Mission Township
+10.8%

Housing Supply in Sheridan, IL

How many homes are available in Sheridan, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1513-13.3%

Summary: The Sheridan real estate market had 13 homes for sale in February 2024, a 13.3% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 00
0.0%
3 109
-10.0%
4 54
-20.0%
5+ 00
0.0%

Summary: The Sheridan housing inventory by bedroom type for February 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 10%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were 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. 100% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Sheridan in February 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% 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

Feb 2023Feb 2024CHANGE
43 Days11 Days-73.3%

Summary: Homes in Sheridan had an average of 11 days on market in Feb 2024, down by 73.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were 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 Sheridan are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 2 homes were sold in Sheridan; 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 28 Days Ago

Newest Listings in Sheridan, IL

Nearby Markets to Sheridan, IL

What housing markets are near Sheridan, IL?