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 2021

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.

How much do homes in Somonauk Township, IL cost?

Median Sold Price

$235,500

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$40,500(+20.8%)

Key Takeaway

Homes in Somonauk Township have sold for 20.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 --
N/A
2 $195K$175K
-10.3%
3 $195K$230K
+17.9%
4 $230K$292.4K
+27.2%
5+ $189.9K$179.9K
-5.3%

Median Sold Price Compared To Nearby Cities

Somonauk Township
+20.8%
Northville Township
+15.8%
Sandwich Township
+13.0%
Sandwich
+10.1%
Somonauk
+5.4%

How many homes are available in Somonauk Township, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
880.0%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 01
+100.0%
3 22
0.0%
4 54
-20.0%
5+ 11
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
23+50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Somonauk Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
3 Days84 Days+2300.0%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Somonauk Township are taking a long time to sell, it's a good idea to negotiate on homes here.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Somonauk Township, IL

Somonauk Township, IL has 8 homes for sale to choose from. The median list price of listings available in October 2022 was $235,500, while the average time on the real estate market was 84 days. Listing prices have changed in this real estate market between September 2022 and October 2022: prices of 1 bedroom properties increased by 0%, 2 bedrooms properties became 10.3% more cheaper, 3 bedrooms properties prices increased by 17.9%, 4 bedrooms properties prices increased by 27.2%, 5 bedrooms properties became 5.3% more cheaper. Volume of homes for sale changed: number of 1 bedroom homes remained the same, volume of 2 bedrooms homes went up by 100%, volume of 3 bedrooms homes stayed the same, 4 bedrooms homes inventory decreased by 20%, the quantity of 5 bedrooms homes have not changed. In October 2022 more than 0 listings in Somonauk Township, IL were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 2 were sold below.

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