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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McHenry County is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in McHenry County, IL

How much do homes in McHenry County, IL cost?

Median Sold Price

$319,934

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$20,277(+6.8%)

Key Takeaway

Homes in McHenry County have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in McHenry County was $319,934 in March 2024, up 6.8% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $99K$133.6K
+34.9%
2 $225K$249.9K
+11.1%
3 $280.4K$300.8K
+7.2%
4 $389.4K$409.9K
+5.3%
5+ $459K$485K
+5.7%

Summary: McHenry County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.9%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 5.7%.

Median Sold Price Compared To Nearby Counties

Boone County
+11.3%
Kane County
+10.4%
Lake County
+7.7%
McHenry County
+6.8%
Kenosha County
+5.4%

Housing Supply in McHenry County, IL

How many homes are available in McHenry County, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
9551,065+11.5%

Summary: The McHenry County real estate market had 1,065 homes for sale in March 2024, a 11.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 118
-27.3%
2 218248
+13.8%
3 385429
+11.4%
4 287313
+9.1%
5+ 5467
+24.1%

Summary: The McHenry County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 27.3%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 24.1%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
254311+22.4%

Asking Price vs. Sold Price

135 Homes Were Sold
Under Asking

64 Homes Were Sold
At Asking

112 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McHenry County, you may be able to get a good deal. 43.4% of homes here sold below asking price last month.

Summary: A total of 311 homes were sold or pending in McHenry County in March 2024, up by 22.4% month-over-month. Of the 311 sold homes, 43% were sold under asking, 21% were sold at asking, and 36% were sold over asking.

Days on Market for McHenry County, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
33 Days28 Days-14.2%

Summary: Homes in McHenry County had an average of 28 days on market in Mar 2024, down by 14.2% compared to last year.

Breakdown of Home Sale Times

222 Homes Were Sold
Under 30 Days

64 Homes Were Sold
In 30 - 90 Days

25 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 311 homes were sold in McHenry County; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 8% 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 24 Days Ago

Newest Listings in McHenry County, IL

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