Is Cary, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cary is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Cary, IL

How much do homes in Cary, IL cost?

Median Sold Price

$335,375

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$20,375(+6.5%)

Key Takeaway

Homes in Cary have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Cary was $335,375 in May 2024, up 6.5% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $330K$166K
-49.7%
2 $226.5K$250K
+10.4%
3 $296K$327K
+10.5%
4 $384K$422.5K
+10.0%
5+ $429.9K$451K
+4.9%

Summary: Cary housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 49.7%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 4.9%.

Median Sold Price Compared To Nearby Cities

Crystal Lake
+20.3%
Algonquin Township
+9.8%
Algonquin
+8.8%
Cary
+6.5%

Housing Supply in Cary, IL

How many homes are available in Cary, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7785+10.4%

Summary: The Cary real estate market had 85 homes for sale in May 2024, a 10.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 811
+37.5%
3 3134
+9.7%
4 3331
-6.1%
5+ 59
+80.0%

Summary: The Cary 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 37.5%, 3 bedroom homes increased by 9.7%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 80%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2526+4.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cary, you could pay more than the asking price. 57.7% of homes here sold above asking price last month.

Summary: A total of 26 homes were sold or pending in Cary in May 2024, up by 4.0% month-over-month. Of the 26 sold homes, 23% were sold under asking, 19% were sold at asking, and 58% were sold over asking.

Days on Market for Cary, IL

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

Average Sale Time

May 2023May 2024CHANGE
12 Days12 Days-5.2%

Summary: Homes in Cary had an average of 12 days on market in May 2024, down by 5.2% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 26 homes were sold in Cary; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% 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 4 Days Ago

Newest Listings in Cary, IL

Nearby Markets to Cary, IL

What housing markets are near Cary, IL?