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 August 2021

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.

How much do homes in McLean County, IL cost?

Median Sold Price

$200,124

$96/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$25,269(+14.5%)

Key Takeaway

Homes in McLean County have sold for 14.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $119.4K$88K
-26.3%
2 $116.1K$135.5K
+16.6%
3 $158.5K$184.9K
+16.6%
4 $246.7K$290K
+17.5%
5+ $239.7K$267K
+11.4%

Median Sold Price Compared To Nearby Counties

Piatt County
+23.1%
McLean County
+14.5%
Woodford County
+9.2%
Ford County
+8.9%
De Witt County
+0.9%

How many homes are available in McLean County, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
837769-8.1%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 99
0.0%
2 148153
+3.4%
3 384358
-6.8%
4 247210
-15.0%
5+ 4939
-20.4%

Number of Homes Sold

Jul 2022Aug 2022%
302279-7.6%

Asking Price vs. Sold Price

80 Homes Were Sold
Under Asking

62 Homes Were Sold
At Asking

137 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. 49.1% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
15 Days11 Days-29.3%

Breakdown of Home Sale Times

254 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

3 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About McLean County, IL

McLean County, IL has 769 homes for sale to choose from. Between July 2022 and August 2022, McLean County, IL real estate market has seen decrease in the number of listings by 8.1%. While the average time on the market in August 2022 was 11 days, the median list price was $200,124. This housing market listing prices have changed between July 2022 and August 2022: prices of 1 bedroom properties went down by 26.3%, the cost of 2 bedrooms properties went up by 16.6%, prices of 3 bedrooms properties increased by 16.6%, the cost of 4 bedrooms properties went up by 17.5%, 5 bedrooms properties prices increased by 11.4%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes stayed the same, number of 2 bedrooms homes increased by 3.4%, the quantity of 3 bedrooms homes went down by 6.8%, the quantity of 4 bedrooms homes went down by 15%, volume of 5 bedrooms homes went down by 20.4%. In August 2022, from all listings sold in McLean County, IL there were more than 137 sold above asking price, over 80 sold below and more than 62 were sold right at the asked price.

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