$3,539 Closing Credit*
$298,000
2,089 SqFt
3 Beds
•1 Full Bath
Barbara Endzelis, Listing Office: RE/MAX Professionals
Is Sherman, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, Sherman was a Neutral Market.
Key Takeaway
Sherman is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sherman, IL
How much do homes in Sherman, IL cost?
Median Sold Price
$281,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$1,000(+0.4%)
Key Takeaway
The sold price of homes in Sherman has remained the same since last year.
Summary: The median home sold price in Sherman was $281,000 in August 2024, up 0.4% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $224.9K | $205K | -8.9% |
| 3 Bedrooms | $230K | $256.5K | +11.5% |
| 4 Bedrooms | $352.5K | $379K | +7.5% |
| 5+ Bedrooms | $440K | $479K | +8.9% |
Summary: Sherman housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.9%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 8.9%.
Median Sold Price Compared To Nearby Cities
| Springfield Township | $147.1K | $163.7K | +11.3% |
| Fancy Creek Township | $252.5K | $270K | +6.9% |
| Capital Township | $154.1K | $164.6K | +6.8% |
| Sherman | $280K | $281K | 0.4% |
Housing Supply in Sherman, IL
How many homes are available in Sherman, IL?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 24 | 19 | -20.8% |
Summary: The Sherman real estate market had 19 homes for sale in August 2024, a 20.8% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 9 | 6 | -33.3% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Sherman housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Sherman, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Sherman in August 2024, down by 36.4% month-over-month. Of the 7 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for Sherman, IL
How long does it take to sell a home in Sherman, IL?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 0 Days | 4 Days | +757.1% |
Summary: Homes in Sherman had an average of 4 days on market in Aug 2024, up by 757.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sherman are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 7 homes were sold in Sherman; 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.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.