Is Crystal Lake, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Crystal Lake is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Crystal Lake, IL

How much do homes in Crystal Lake, IL cost?

Median Sold Price

$340,000

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$59,645(+21.3%)

Key Takeaway

Homes in Crystal Lake have sold for 21.3% more than they did a year ago.

Summary: The median home sold price in Crystal Lake was $340,000 in February 2024, up 21.3% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $109.9K$112K
+1.9%
2 $202.5K$236K
+16.5%
3 $265K$310K
+17.0%
4 $365K$423.3K
+16.0%
5+ $420K$525K
+25.0%

Summary: Crystal Lake housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 25%.

Median Sold Price Compared To Nearby Cities

Crystal Lake
+21.3%
Lakewood
+13.7%
Algonquin Township
+7.3%
Lake in the Hills
+6.8%
Nunda Township
+5.8%

Housing Supply in Crystal Lake, IL

How many homes are available in Crystal Lake, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
116148+27.6%

Summary: The Crystal Lake real estate market had 148 homes for sale in February 2024, a 27.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 2222
0.0%
3 4360
+39.5%
4 4657
+23.9%
5+ 58
+60.0%

Summary: The Crystal Lake housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 39.5%, 4 bedroom homes increased by 23.9%, and 5+ bedroom homes increased by 60%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
31310.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Crystal Lake, you could pay more than the asking price. 45.2% of homes here sold above asking price last month.

Summary: A total of 31 homes were sold or pending in Crystal Lake in February 2024, the same as the previous month. Of the 31 sold homes, 29% were sold under asking, 26% were sold at asking, and 45% were sold over asking.

Days on Market for Crystal Lake, IL

How long does it take to sell a home in Crystal Lake, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
35 Days35 Days-1.3%

Summary: Homes in Crystal Lake had an average of 35 days on market in Feb 2024, down by 1.3% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 31 homes were sold in Crystal Lake; 77% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 6% 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 27 Days Ago

Newest Listings in Crystal Lake, IL

Nearby Markets to Crystal Lake, IL

What housing markets are near Crystal Lake, IL?