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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Algonquin is a seller's market

Buyer's
Market

Difference Since September 2021

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

Key Takeaway

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

How much do homes in Algonquin, IL cost?

Median Sold Price

$328,700

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$28,598(+9.5%)

Key Takeaway

Homes in Algonquin have sold for 9.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $139.5K$93K
-33.3%
2 $196.3K$234K
+19.2%
3 $257K$286.7K
+11.6%
4 $369K$400K
+8.4%
5+ $414.9K$470K
+13.3%

Median Sold Price Compared To Nearby Cities

Carpentersville
+15.4%
Lake in the Hills
+11.7%
Algonquin Township
+9.8%
Algonquin
+9.5%
Dundee Township
+8.9%

How many homes are available in Algonquin, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
1541540.0%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 10
-100.0%
2 3739
+5.4%
3 5451
-5.6%
4 5156
+9.8%
5+ 118
-27.3%

Number of Homes Sold

Aug 2022Sep 2022%
5337-30.2%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Algonquin, you could pay more than the asking price. 43.2% of homes here sold above asking price last month.

Average Sale Time

Sep 2021Sep 2022%
14 Days9 Days-32.4%

Breakdown of Home Sale Times

35 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 Algonquin are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Algonquin, IL

Algonquin, IL has 154 homes for sale to choose from. In September 2022, listings were on the market for 9 days. During the same period, the median list price in this real estate market was $328,700. This housing market listing prices have changed between August 2022 and September 2022: 1 bedroom properties became 33.3% more cheaper, 2 bedrooms properties prices increased by 19.2%, prices of 3 bedrooms properties increased by 11.6%, prices of 4 bedrooms properties increased by 8.4%, 5 bedrooms properties prices increased by 13.3%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes went down by 100%, number of 2 bedrooms homes increased by 5.4%, the quantity of 3 bedrooms homes went down by 5.6%, number of 4 bedrooms homes increased by 9.8%, volume of 5 bedrooms homes went down by 27.3%. Algonquin, IL housing market in September 2022 saw over 16 listings sold above listed price, more than 11 sold at listed price and over 10 sold below.

Related Housing Market Reports