Is Machesney Park, 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, Machesney Park has remained a Seller's Market.
Housing Prices in Machesney Park, IL
How much do homes in Machesney Park, IL cost?
Median Sold Price
$170,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Machesney Park was $170,000 in March 2024, up 4.9% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $68.5K | - | N/A |
2 Bedrooms | $87.5K | $105K | +20.0% |
3 Bedrooms | $165.5K | $175K | +5.7% |
4 Bedrooms | $270K | $227K | -15.9% |
5+ Bedrooms | $188.7K | $265K | +40.4% |
Summary: Machesney Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes increased by 40.4%.
Median Sold Price Compared To Nearby Cities
Owen Township | $228.5K | $265K | +16.0% |
Roscoe | $242K | $279.9K | +15.7% |
Machesney Park | $162K | $170K | +4.9% |
Loves Park | $173K | $171.2K | -1.0% |
Harlem Township | $185K | $182.5K | -1.4% |
Housing Supply in Machesney Park, IL
How many homes are available in Machesney Park, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 33 | +22.2% |
Summary: The Machesney Park real estate market had 33 homes for sale in March 2024, a 22.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 15 | 22 | +46.7% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Machesney Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 46.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 12 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Machesney Park in March 2024, up by 100.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% were sold over asking.
Days on Market for Machesney Park, IL
How long does it take to sell a home in Machesney Park, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 58 Days | +74.9% |
Summary: Homes in Machesney Park had an average of 58 days on market in Mar 2024, up by 74.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Machesney Park; 58% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.