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 February 2023

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 in McHenry Township, IL

How much do homes in McHenry Township, IL cost?

Median Sold Price

$264,615

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$19,615(+8.0%)

Key Takeaway

Homes in McHenry Township have sold for 8% more than they did a year ago.

Summary: The median home sold price in McHenry Township was $264,615 in February 2024, up 8% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $80K$117.5K
+46.9%
2 $180K$215K
+19.4%
3 $256.5K$275K
+7.2%
4 $334K$377.9K
+13.2%
5+ $379K$350K
-7.7%

Summary: McHenry Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.9%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 7.7%.

Median Sold Price Compared To Nearby Cities

Johnsburg
+37.8%
McHenry Township
+8.0%
McHenry
+5.7%

Housing Supply in McHenry Township, IL

How many homes are available in McHenry Township, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
158185+17.1%

Summary: The McHenry Township real estate market had 185 homes for sale in February 2024, a 17.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 32
-33.3%
2 4958
+18.4%
3 6783
+23.9%
4 3033
+10.0%
5+ 99
0.0%

Summary: The McHenry Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 23.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3955+41.0%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McHenry Township, you may be able to get a good deal. 50.9% of homes here sold below asking price last month.

Summary: A total of 55 homes were sold or pending in McHenry Township in February 2024, up by 41.0% month-over-month. Of the 55 sold homes, 51% were sold under asking, 22% were sold at asking, and 27% were sold over asking.

Days on Market for McHenry Township, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
62 Days34 Days-45.4%

Summary: Homes in McHenry Township had an average of 34 days on market in Feb 2024, down by 45.4% compared to last year.

Breakdown of Home Sale Times

33 Homes Were Sold
Under 30 Days

17 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 February 2024, 55 homes were sold in McHenry Township; 60% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 9% 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 28 Days Ago

Newest Listings in McHenry Township, IL

Nearby Markets to McHenry Township, IL

What housing markets are near McHenry Township, IL?