Is Machesney Park, 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, Machesney Park has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $68.5K | $74K | +8.0% |
2 Bedrooms | $92K | $107.5K | +16.8% |
3 Bedrooms | $168.5K | $177K | +5.0% |
4 Bedrooms | $252.5K | $229K | -9.3% |
5+ Bedrooms | $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 | $249.9K | $279.9K | +12.0% |
Loves Park | $163K | $175K | +7.3% |
Harlem Township | $183.5K | $195K | +6.3% |
Machesney Park | $166.7K | $166.9K | 0.1% |
Housing Supply in Machesney Park, IL
How many homes are available in Machesney Park, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 28 | -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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 3 | -40.0% |
3 Bedrooms | 21 | 18 | -14.3% |
4 Bedrooms | 4 | 3 | -25.0% |
5+ Bedrooms | 2 | 3 | +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 2024 | May 2024 | CHANGE |
---|---|---|
19 | 8 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 23 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
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.