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 May 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

$275,000

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$27,285(+11.0%)

Key Takeaway

Homes in McHenry Township have sold for 11% more than they did a year ago.

Summary: The median home sold price in McHenry Township was $275,000 in May 2024, up 11% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $91K$124.9K
+37.3%
2 $191.1K$220K
+15.1%
3 $258.5K$283K
+9.4%
4 $360K$387.4K
+7.6%
5+ $379K$404K
+6.6%

Summary: McHenry Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.3%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 6.6%.

Median Sold Price Compared To Nearby Cities

Johnsburg
+30.1%
McHenry Township
+11.0%
McHenry
+9.2%
McCullom Lake
+5.3%

Housing Supply in McHenry Township, IL

How many homes are available in McHenry Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
247270+9.3%

Summary: The McHenry Township real estate market had 270 homes for sale in May 2024, a 9.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 37
+133.3%
2 8596
+12.9%
3 114115
+0.9%
4 3640
+11.1%
5+ 912
+33.3%

Summary: The McHenry Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 133.3%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
8384+1.2%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

45 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McHenry Township, you could pay more than the asking price. 53.6% of homes here sold above asking price last month.

Summary: A total of 84 homes were sold or pending in McHenry Township in May 2024, up by 1.2% month-over-month. Of the 84 sold homes, 26% were sold under asking, 20% were sold at asking, and 54% 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

May 2023May 2024CHANGE
18 Days24 Days+27.0%

Summary: Homes in McHenry Township had an average of 24 days on market in May 2024, up by 27% compared to last year.

Breakdown of Home Sale Times

69 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

2 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 May 2024, 84 homes were sold in McHenry Township; 82% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 2% 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

Newest Listings in McHenry Township, IL

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