Is Machesney Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Machesney Park is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Machesney Park has remained a Seller's Market.

Key Takeaway

Machesney Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Machesney Park, IL

How much do homes in Machesney Park, IL cost?

Median Sold Price

$166,950

$122/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$200(+0.1%)

Key Takeaway

The sold price of homes in Machesney Park has remained the same since last year.

Summary: The median home sold price in Machesney Park was $166,950 in May 2024, up 0.1% from last year, and the median price per square foot was $122.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $68.5K$74K
+8.0%
2 $92K$107.5K
+16.8%
3 $168.5K$177K
+5.0%
4 $252.5K$229K
-9.3%
5+ $225K$221.5K
-1.6%

Summary: Machesney Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes decreased by 1.6%.

Median Sold Price Compared To Nearby Cities

Roscoe
+12.0%
Loves Park
+7.3%
Harlem Township
+6.3%
Machesney Park
0.1%

Housing Supply in Machesney Park, IL

How many homes are available in Machesney Park, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3328-15.2%

Summary: The Machesney Park real estate market had 28 homes for sale in May 2024, a 15.2% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 53
-40.0%
3 2118
-14.3%
4 43
-25.0%
5+ 23
+50.0%

Summary: The Machesney Park 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 decreased by 40%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
198-57.9%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Machesney Park, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Machesney Park in May 2024, down by 57.9% month-over-month. Of the 8 sold homes, 63% were sold under asking, 0% were sold at asking, and 38% were sold over asking.

Days on Market for Machesney Park, IL

How long does it take to sell a home in Machesney Park, IL?

Average Sale Time

May 2023May 2024CHANGE
6 Days23 Days+280.0%

Summary: Homes in Machesney Park had an average of 23 days on market in May 2024, up by 280% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Machesney Park are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 8 homes were sold in Machesney Park; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

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

Report Updated 1 Day Ago

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