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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Winnebago County is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Winnebago County, IL

How much do homes in Winnebago County, IL cost?

Median Sold Price

$169,106

$109/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$14,277(+9.2%)

Key Takeaway

Homes in Winnebago County have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in Winnebago County was $169,106 in February 2024, up 9.2% from last year, and the median price per square foot was $109.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $60K$84K
+40.0%
2 $102.1K$125K
+22.4%
3 $160.2K$171.5K
+7.1%
4 $210K$225K
+7.1%
5+ $212.5K$243.7K
+14.7%

Summary: Winnebago County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 14.7%.

Median Sold Price Compared To Nearby Counties

Boone County
+9.5%
Winnebago County
+9.2%
Ogle County
+8.4%
Stephenson County
-5.9%

Housing Supply in Winnebago County, IL

How many homes are available in Winnebago County, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
372385+3.5%

Summary: The Winnebago County real estate market had 385 homes for sale in February 2024, a 3.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 76
-14.3%
2 7383
+13.7%
3 171183
+7.0%
4 9486
-8.5%
5+ 2727
0.0%

Summary: The Winnebago County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
107108+0.9%

Asking Price vs. Sold Price

44 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

45 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Winnebago County, you could pay more than the asking price. 41.7% of homes here sold above asking price last month.

Summary: A total of 108 homes were sold or pending in Winnebago County in February 2024, up by 0.9% month-over-month. Of the 108 sold homes, 41% were sold under asking, 18% were sold at asking, and 42% were sold over asking.

Days on Market for Winnebago County, IL

How long does it take to sell a home in Winnebago County, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
38 Days34 Days-10.9%

Summary: Homes in Winnebago County had an average of 34 days on market in Feb 2024, down by 10.9% compared to last year.

Breakdown of Home Sale Times

66 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 108 homes were sold in Winnebago County; 61% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 12% 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 1 Day Ago

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