Is McLean County, 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, McLean County has remained a Seller's Market.
Housing Prices in McLean County, IL
How much do homes in McLean County, IL cost?
Median Sold Price
$231,366
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in McLean County was $231,366 in March 2024, up 12.5% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95.5K | $120K | +25.7% |
2 Bedrooms | $140K | $145.5K | +4.0% |
3 Bedrooms | $195.1K | $212.1K | +8.7% |
4 Bedrooms | $295.5K | $320.7K | +8.5% |
5+ Bedrooms | $300K | $291.5K | -2.8% |
Summary: McLean County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.7%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 2.8%.
Median Sold Price Compared To Nearby Counties
Piatt County | $180K | $221.7K | +23.2% |
Woodford County | $184.4K | $215.6K | +16.9% |
De Witt County | $116K | $135K | +16.4% |
McLean County | $205.6K | $231.3K | +12.5% |
Ford County | $119.9K | $130K | +8.4% |
Housing Supply in McLean County, IL
How many homes are available in McLean County, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
406 | 469 | +15.5% |
Summary: The McLean County real estate market had 469 homes for sale in March 2024, a 15.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 6 | 0.0% |
2 Bedrooms | 66 | 70 | +6.1% |
3 Bedrooms | 172 | 215 | +25.0% |
4 Bedrooms | 135 | 148 | +9.6% |
5+ Bedrooms | 27 | 30 | +11.1% |
Summary: The McLean County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
93 | 124 | +33.3% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
33 Homes Were Sold
At Asking
47 Homes Were Sold
Over Asking
Summary: A total of 124 homes were sold or pending in McLean County in March 2024, up by 33.3% month-over-month. Of the 124 sold homes, 35% were sold under asking, 27% were sold at asking, and 38% were sold over asking.
Days on Market for McLean County, IL
How long does it take to sell a home in McLean County, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
19 Days | 44 Days | +125.9% |
Summary: Homes in McLean County had an average of 44 days on market in Mar 2024, up by 125.9% compared to last year.
Breakdown of Home Sale Times
97 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During March 2024, 124 homes were sold in McLean County; 78% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.