Is Sheridan, IL 60551 a buyer’s or seller’s market?
Sheridan is a seller’s market. With about 1.3 months of supply and 60% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Sheridan housing market right now
In the three months ending August 31, 2026, 60% of homes in Sheridan, IL 60551 sold above their list price, the typical home went under contract in 55 days and there were 1.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 5 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 40%, homes sold more slowly (34 days then) and the median sale price rose 13% to $379,836. Overall, Sheridan is more competitive than a year ago, so tougher for buyers.
Within LaSalle County, homes here sell faster than in 53% of the county’s ZIP codes, and sell more often over asking than in 94%.
Nearby, buyers who want less competition could look at Wenona 61377 (0% sold over asking) or Utica 61373 (0% sold over asking), while Millington 60537 (100% sold over asking) is even more competitive.
Run the numbers for 60551
Nearby markets
Cedar Point 61316Seller’s market $46 /sq ftDana 61321 — /sq ftEarlville 60518Seller’s market $162 /sq ftGrand Ridge 61325 — /sq ft Browse all markets →Towns like Sheridan nearby
Find towns like Sheridan in other states →Where Sheridan is
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Questions about Sheridan real estate
Is Sheridan a buyer’s or seller’s market?
A seller’s market: there were 1.3 months of supply in Sheridan, IL 60551 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Sheridan?
The typical home went under contract in 55 days in the latest three months.
Do homes in Sheridan sell over asking?
60% of homes sold above their original list price, and the typical sale closed at 103.7% of the list price.
What are property taxes in Sheridan?
About 2.11% of a home’s value a year in LaSalle County, or roughly $8,440 on a $400,000 home.
What is the median home price in Sheridan?
The median sale price was $379,836 in the three months ending August 31, 2026, about $187 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology