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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McLean County is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in McLean County, IL

How much do homes in McLean County, IL cost?

Median Sold Price

$234,972

$106/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$22,023(+10.3%)

Key Takeaway

Homes in McLean County have sold for 10.3% more than they did a year ago.

Summary: The median home sold price in McLean County was $234,972 in June 2024, up 10.3% from last year, and the median price per square foot was $106.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $122.5K$136.5K
+11.4%
2 $138.2K$155K
+12.1%
3 $200K$215K
+7.5%
4 $300K$325K
+8.3%
5+ $322.4K$280K
-13.2%

Summary: McLean County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 13.2%.

Median Sold Price Compared To Nearby Counties

Piatt County
+22.2%
Ford County
+14.3%
McLean County
+10.3%
Woodford County
+8.8%
De Witt County
+7.0%

Housing Supply in McLean County, IL

How many homes are available in McLean County, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
667693+3.9%

Summary: The McLean County real estate market had 693 homes for sale in June 2024, a 3.9% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 66
0.0%
2 109113
+3.7%
3 293292
-0.3%
4 213236
+10.8%
5+ 4646
0.0%

Summary: The McLean County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.7%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
201212+5.5%

Asking Price vs. Sold Price

54 Homes Were Sold
Under Asking

47 Homes Were Sold
At Asking

111 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McLean County, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.

Summary: A total of 212 homes were sold or pending in McLean County in June 2024, up by 5.5% month-over-month. Of the 212 sold homes, 25% were sold under asking, 22% were sold at asking, and 52% 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

Jun 2023Jun 2024CHANGE
17 Days17 Days+4.9%

Summary: Homes in McLean County had an average of 17 days on market in Jun 2024, up by 4.9% compared to last year.

Breakdown of Home Sale Times

187 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 212 homes were sold in McLean County; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% 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 26 Days Ago

Newest Listings in McLean County, IL

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