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 March 2023

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.

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

+$23,823(+7.9%)

Key Takeaway

Homes in Algonquin Township have sold for 7.9% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 $104.5K$140K
+34.0%
2 $215K$244.4K
+13.7%
3 $289.5K$309.9K
+7.0%
4 $380.2K$415K
+9.1%
5+ $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
+21.3%
Algonquin Township
+7.9%
Cary
+6.8%
Algonquin
+6.4%

Housing Supply in Algonquin Township, IL

How many homes are available in Algonquin Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
283292+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

# BEDSFeb 2024Mar 2024CHANGE
1 55
0.0%
2 5557
+3.6%
3 116119
+2.6%
4 8989
0.0%
5+ 1822
+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 2024Mar 2024CHANGE
8393+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Algonquin Township, you could pay more than the asking price. 44.1% of homes here sold above asking price last month.

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 2023Mar 2024CHANGE
27 Days21 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 17 Days Ago

Newest Listings in Algonquin Township, IL

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