Is Algonquin, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$367,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Algonquin was $367,000 in March 2024, up 6.4% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $102K | $154K | +51.0% |
2 Bedrooms | $235.5K | $310.4K | +31.8% |
3 Bedrooms | $309.9K | $327.4K | +5.7% |
4 Bedrooms | $431.5K | $440K | +2.0% |
5+ Bedrooms | $440K | $507.8K | +15.4% |
Summary: Algonquin housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 51%, 2 bedroom homes increased by 31.8%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 15.4%.
Median Sold Price Compared To Nearby Cities
Carpentersville | $231K | $251.4K | +8.9% |
Dundee Township | $252.9K | $275K | +8.7% |
Algonquin Township | $300.1K | $323.9K | +7.9% |
Algonquin | $344.9K | $367K | +6.4% |
Lake in the Hills | $306.1K | $313.3K | +2.4% |
Housing Supply in Algonquin, IL
How many homes are available in Algonquin, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
106 | 96 | -9.4% |
Summary: The Algonquin real estate market had 96 homes for sale in March 2024, a 9.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 22 | 20 | -9.1% |
3 Bedrooms | 34 | 33 | -2.9% |
4 Bedrooms | 39 | 31 | -20.5% |
5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Algonquin housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 20.5%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
30 | 29 | -3.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Algonquin in March 2024, down by 3.3% month-over-month. Of the 29 sold homes, 45% were sold under asking, 17% were sold at asking, and 38% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
26 Days | 29 Days | +13.1% |
Summary: Homes in Algonquin had an average of 29 days on market in Mar 2024, up by 13.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in Algonquin; 66% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.