Is Algonquin Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Algonquin Township has remained a Seller's Market.
Housing Prices in Algonquin Township, IL
How much do homes in Algonquin Township, IL cost?
Median Sold Price
$330,000
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Algonquin Township was $330,000 in May 2024, up 9.8% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $107K | $135K | +26.2% |
2 Bedrooms | $215.5K | $250K | +16.0% |
3 Bedrooms | $290K | $315K | +8.6% |
4 Bedrooms | $385K | $412.4K | +7.1% |
5+ Bedrooms | $434.5K | $480K | +10.5% |
Summary: Algonquin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.2%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Cities
Crystal Lake | $290.9K | $350K | +20.3% |
Algonquin Township | $300.4K | $330K | +9.8% |
Algonquin | $340K | $369.9K | +8.8% |
Cary | $315K | $335.3K | +6.5% |
Housing Supply in Algonquin Township, IL
How many homes are available in Algonquin Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
338 | 395 | +16.9% |
Summary: The Algonquin Township real estate market had 395 homes for sale in May 2024, a 16.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 71 | 89 | +25.4% |
3 Bedrooms | 130 | 141 | +8.5% |
4 Bedrooms | 104 | 129 | +24.0% |
5+ Bedrooms | 29 | 32 | +10.3% |
Summary: The Algonquin Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25.4%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
104 | 119 | +14.4% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
68 Homes Were Sold
Over Asking
Summary: A total of 119 homes were sold or pending in Algonquin Township in May 2024, up by 14.4% month-over-month. Of the 119 sold homes, 24% were sold under asking, 18% were sold at asking, and 57% were sold over asking.
Days on Market for Algonquin Township, IL
How long does it take to sell a home in Algonquin Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 20 Days | +59.6% |
Summary: Homes in Algonquin Township had an average of 20 days on market in May 2024, up by 59.6% compared to last year.
Breakdown of Home Sale Times
104 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 119 homes were sold in Algonquin Township; 87% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.