Is Algonquin, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Algonquin has remained a Seller's Market.
Housing Prices in Algonquin, IL
How much do homes in Algonquin, IL cost?
Median Sold Price
$368,722
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Algonquin was $368,722 in April 2024, up 8.4% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $124K | $154K | +24.2% |
2 Bedrooms | $240K | $306K | +27.5% |
3 Bedrooms | $310.9K | $334.4K | +7.6% |
4 Bedrooms | $435K | $440K | +1.1% |
5+ Bedrooms | $437.5K | $533K | +21.8% |
Summary: Algonquin housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.2%, 2 bedroom homes increased by 27.5%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 21.8%.
Median Sold Price Compared To Nearby Cities
Dundee Township | $252.6K | $279.9K | +10.8% |
Carpentersville | $231.6K | $255K | +10.1% |
Algonquin | $340K | $368.7K | +8.4% |
Algonquin Township | $300.2K | $325.3K | +8.3% |
Lake in the Hills | $308K | $310.5K | +0.8% |
Housing Supply in Algonquin, IL
How many homes are available in Algonquin, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
101 | 134 | +32.7% |
Summary: The Algonquin real estate market had 134 homes for sale in April 2024, a 32.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 21 | 31 | +47.6% |
3 Bedrooms | 35 | 45 | +28.6% |
4 Bedrooms | 32 | 41 | +28.1% |
5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Algonquin housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 47.6%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 28.1%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 32 | +6.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in Algonquin in April 2024, up by 6.7% month-over-month. Of the 32 sold homes, 22% were sold under asking, 19% were sold at asking, and 59% were sold over asking.
Days on Market for Algonquin, IL
How long does it take to sell a home in Algonquin, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 12 Days | -28.8% |
Summary: Homes in Algonquin had an average of 12 days on market in Apr 2024, down by 28.8% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 32 homes were sold in Algonquin; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.