Is McDonough County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McDonough County is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, McDonough County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in McDonough County, IL

How much do homes in McDonough County, IL cost?

Median Sold Price

$90,833

$65/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$5,100(+5.9%)

Key Takeaway

Homes in McDonough County have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in McDonough County was $90,833 in April 2024, up 5.9% from last year, and the median price per square foot was $65.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $30K$48K
+60.0%
2 $56.7K$66K
+16.4%
3 $98.9K$101K
+2.1%
4 $135.5K$160K
+18.1%
5+ $177.5K$177.7K
0.1%

Summary: McDonough County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 16.4%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 0.1%.

Median Sold Price Compared To Nearby Counties

McDonough County
+5.9%
Fulton County
+4.5%
Warren County
-19.9%

Housing Supply in McDonough County, IL

How many homes are available in McDonough County, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
101113+11.9%

Summary: The McDonough County real estate market had 113 homes for sale in April 2024, a 11.9% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 47
+75.0%
2 3333
0.0%
3 4644
-4.3%
4 1724
+41.2%
5+ 15
+400.0%

Summary: The McDonough County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 41.2%, and 5+ bedroom homes increased by 400%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1720+17.6%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McDonough County, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in McDonough County in April 2024, up by 17.6% month-over-month. Of the 20 sold homes, 80% were sold under asking, 5% were sold at asking, and 15% were sold over asking.

Days on Market for McDonough County, IL

How long does it take to sell a home in McDonough County, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
116 Days69 Days-40.1%

Summary: Homes in McDonough County had an average of 69 days on market in Apr 2024, down by 40.1% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 20 homes were sold in McDonough County; 60% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 30% 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 1 Day Ago

Newest Listings in McDonough County, IL

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