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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McHenry Township is a seller's market

Buyer's
Market

Difference Since August 2022

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

Key Takeaway

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

Housing Prices

How much do homes in McHenry Township, IL cost?

Median Sold Price

$258,103

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

+$23,103(+9.8%)

Key Takeaway

Homes in McHenry Township have sold for 9.8% more than they did a year ago.

Summary: The median home sold price in McHenry Township was $258,103 in August 2023, up 9.8% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $84.5K$105K
+24.3%
2 $175.5K$200K
+14.0%
3 $235K$264.9K
+12.8%
4 $355K$364K
+2.5%
5+ $356K$404K
+13.5%

Summary: McHenry Township housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 24.3%, 2 bedroom homes increased by 14%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 13.5%.

Median Sold Price Compared To Nearby Cities

Johnsburg
+21.1%
McCullom Lake
+15.9%
McHenry Township
+9.8%
McHenry
+2.0%

Housing Supply

How many homes are available in McHenry Township, IL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
256291+13.7%

Summary: The McHenry Township real estate market had 291 homes for sale in August 2023, a 13.7% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 67
+16.7%
2 8182
+1.2%
3 98121
+23.5%
4 5661
+8.9%
5+ 1520
+33.3%

Summary: The McHenry Township housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
71100+40.8%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

49 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McHenry Township, you could pay more than the asking price. 49% of homes here sold above asking price last month.

Summary: A total of 100 homes were sold or pending in McHenry Township in August 2023, up by 40.8% month-over-month. Of the 100 sold homes, 28% were sold under asking, 23% were sold at asking, and 49% were sold over asking.

Days on Market

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

Average Sale Time

Aug 2022Aug 2023CHANGE
21 Days19 Days-5.2%

Summary: Homes in McHenry Township had an average of 19 days on market in Aug 2023, down by 5.2% compared to last year.

Breakdown of Home Sale Times

81 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2023, 100 homes were sold in McHenry Township; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% 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

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Nearby Markets

What housing markets are near McHenry Township, IL?