Is Algonquin Township, 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 Township has remained a Seller's Market.
Housing Prices in Algonquin Township, IL
How much do homes in Algonquin Township, IL cost?
Median Sold Price
$323,984
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Algonquin Township was $323,984 in March 2024, up 7.9% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $104.5K | $140K | +34.0% |
2 Bedrooms | $215K | $244.4K | +13.7% |
3 Bedrooms | $289.5K | $309.9K | +7.0% |
4 Bedrooms | $380.2K | $415K | +9.1% |
5+ Bedrooms | $440K | $451K | +2.5% |
Summary: Algonquin Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Cities
Crystal Lake | $285K | $345.5K | +21.3% |
Algonquin Township | $300.1K | $323.9K | +7.9% |
Cary | $310K | $331.1K | +6.8% |
Algonquin | $344.9K | $367K | +6.4% |
Housing Supply in Algonquin Township, IL
How many homes are available in Algonquin Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
283 | 292 | +3.2% |
Summary: The Algonquin Township real estate market had 292 homes for sale in March 2024, a 3.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 55 | 57 | +3.6% |
3 Bedrooms | 116 | 119 | +2.6% |
4 Bedrooms | 89 | 89 | 0.0% |
5+ Bedrooms | 18 | 22 | +22.2% |
Summary: The Algonquin Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 2.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
83 | 93 | +12.0% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
41 Homes Were Sold
Over Asking
Summary: A total of 93 homes were sold or pending in Algonquin Township in March 2024, up by 12.0% month-over-month. Of the 93 sold homes, 34% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Algonquin Township, IL
How long does it take to sell a home in Algonquin Township, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
27 Days | 21 Days | -21.9% |
Summary: Homes in Algonquin Township had an average of 21 days on market in Mar 2024, down by 21.9% compared to last year.
Breakdown of Home Sale Times
75 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 93 homes were sold in Algonquin Township; 81% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.