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Featured local agent — Sherman, IL
Sarah Mitchell
Compass Real Estate · Sherman, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Sherman, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$315,000median sale price
How is the Sherman, IL housing market right now?
The median home sale price in Sherman, IL is $315,000, down 26.3% year-over-year. Homes sell in an average of 4 days with 7 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Sherman a buyer's or seller's market?
Sherman, IL is currently a strong seller's market, based on 1.2 months of supply and homes selling in about 4 days. How we determine this →
Homes sold
6
Last 12 weeks
Days on market
4
Fast-moving
Active listings
7
1.2 months supply
Sale-to-list
101.0%
Above asking
What does the Sherman housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $315,000 |
| Median list price | $349,900 |
| Year-over-year price change | -26.3% |
| Average days on market | 4 days |
| Active inventory | 7 listings |
| Months of supply | 1.2 months |
| Sale-to-list price ratio | 101.0% |
| Median price per sq ft | $142/sq ft |
| Homes sold (latest month) | 6 |
| New listings (latest month) | 7 |
| Listings with a price cut | 57.1% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Sherman by property type?
How the Sherman, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $315,000 | $142/sq ft | 6 | 4 days |
| Condo / Co-op | $275,000 | $157/sq ft | 1 | 8 days |
| Townhouse | $252,500 | $183/sq ft | 2 | 11 days |
Source: Redfin · Updated monthly
The Sherman housing market is currently classified as a strong seller's market with a median sale price of $315,000. Prices have fallen 26.3% compared to last year, with homes spending an average of 4 days on market, indicating 1.2 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 2.3x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Sherman
There are currently 7 homes listed for sale in Sherman, Illinois. The median listing price is $350K.
Active listings
7
Homes on market
Median list price
$350K
Avg. days on market
4
Days until sale
New this week
7
Newly listed
Who lives in Sherman?
Population
4,211
Median income
$147,025/yr
Median age
44.4 years
Owner-occupied
89.9%
College grads
47.7%
Avg commute
20.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Sherman?
Zillow home value
$336,421
Price-to-income
2.3x
Source: Zillow Research
What is it like to live in Sherman?
Sherman is a community of approximately 4K residents with a median age of 44.4 years.The median household income is $147,025, which reflects a relatively affluent area with strong earning potential. 47.7% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 89.9%, reflecting strong community stability and long-term resident commitment. The average commute time is 20.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Sherman offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Sherman?
1 schools tracked · 536 students
The largest public schools serving Sherman, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Sherman Elem School
Grades PK-4 · 536 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Sherman, IL?
Want a head-to-head view? Compare Sherman side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Sherman?
The median home sale price in Sherman is $315,000, down 26.3% from last year.
How long do homes stay on market in Sherman?
Homes typically spend 4 days on market before going under contract.
What is the median income in Sherman?
The median household income is $147,025 per year.
Is Sherman a buyer's or seller's market?
With 1.2 months of supply, Sherman is currently a strong seller's market.
What is the Zillow home value estimate for Sherman?
The Zillow Home Value Index (ZHVI) for Sherman is $336,421, representing the typical home value in the area.
What is the median condo price in Sherman?
The median condo/co-op sale price in Sherman, IL is $275,000, compared to $315,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Sherman?
The median single-family home price in Sherman, IL is $315,000 (about $142 per square foot).
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