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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McHenry is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in McHenry, IL

How much do homes in McHenry, IL cost?

Median Sold Price

$271,115

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$20,115(+8.0%)

Key Takeaway

Homes in McHenry have sold for 8% more than they did a year ago.

Summary: The median home sold price in McHenry was $271,115 in April 2024, up 8% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $94.7K$117.5K
+24.0%
2 $200.7K$223.7K
+11.5%
3 $270K$279.3K
+3.5%
4 $347.4K$385K
+10.8%
5+ $306K$350K
+14.4%

Summary: McHenry housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 14.4%.

Median Sold Price Compared To Nearby Cities

Johnsburg
+36.2%
Lakemoor
+16.0%
McHenry Township
+11.6%
McHenry
+8.0%

Housing Supply in McHenry, IL

How many homes are available in McHenry, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
148173+16.9%

Summary: The McHenry real estate market had 173 homes for sale in April 2024, a 16.9% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 03
+100.0%
2 3950
+28.2%
3 8291
+11.0%
4 2323
0.0%
5+ 46
+50.0%

Summary: The McHenry housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 28.2%, 3 bedroom homes increased by 11%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
4958+18.4%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McHenry, you could pay more than the asking price. 46.6% of homes here sold above asking price last month.

Summary: A total of 58 homes were sold or pending in McHenry in April 2024, up by 18.4% month-over-month. Of the 58 sold homes, 40% were sold under asking, 14% were sold at asking, and 47% were sold over asking.

Days on Market for McHenry, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
17 Days14 Days-20.3%

Summary: Homes in McHenry had an average of 14 days on market in Apr 2024, down by 20.3% compared to last year.

Breakdown of Home Sale Times

50 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 58 homes were sold in McHenry; 86% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 2% 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 Apr 1, 2024

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