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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Algonquin Township is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in Algonquin Township, IL cost?

Median Sold Price

$287,752

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$25,939(+9.9%)

Key Takeaway

Homes in Algonquin Township have sold for 9.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $90K$99K
+10.0%
2 $185.6K$207.1K
+11.6%
3 $247.7K$280K
+13.0%
4 $334.3K$366.7K
+9.7%
5+ $415K$430K
+3.6%

Median Sold Price Compared To Nearby Cities

Cary
+12.9%
Algonquin
+12.7%
Algonquin Township
+9.9%
Trout Valley
+9.7%
Crystal Lake
+5.4%

How many homes are available in Algonquin Township, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
361325-10.0%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 79
+28.6%
2 8872
-18.2%
3 129121
-6.2%
4 114100
-12.3%
5+ 2323
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
106105-0.9%

Asking Price vs. Sold Price

55 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Algonquin Township, you may be able to get a good deal. 52.4% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
21 Days26 Days+25.0%

Breakdown of Home Sale Times

69 Homes Were Sold
Under 30 Days

33 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Algonquin Township 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 Township, IL

Number of homes for sale in Algonquin Township, IL real estate market have reached 325. The number of homes for sale in Algonquin Township, IL decreased by 10% between October 2022 and November 2022. The median list price of listings available in November 2022 was $287,752, while the average time on the real estate market was 26 days. This housing market listing prices have changed between October 2022 and November 2022: prices of 1 bedroom properties increased by 10%, 2 bedrooms properties became 11.6% more expensive, the cost of 3 bedrooms properties went up by 13%, prices of 4 bedrooms properties went up by 9.7%, prices of 5 bedrooms properties increased by 3.6%. This housing market inventory have changed: volume of 1 bedroom homes went up by 28.6%, number of 2 bedrooms homes decreased by 18.2%, the quantity of 3 bedrooms homes went down by 6.2%, 4 bedrooms homes inventory decreased by 12.3%, 5 bedrooms homes inventory did not change. Over 25 listings were sold over their listed price in November 2022 in Algonquin Township, IL. In the same period over 55 listings were sold below the listed price and 25 listings were sold for the listed price.

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