Is Crystal Lake, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Crystal Lake is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Crystal Lake has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Crystal Lake, IL

How much do homes in Crystal Lake, IL cost?

Median Sold Price

$350,000

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$59,010(+20.3%)

Key Takeaway

Homes in Crystal Lake have sold for 20.3% more than they did a year ago.

Summary: The median home sold price in Crystal Lake was $350,000 in May 2024, up 20.3% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $103.5K$135K
+30.4%
2 $203.5K$245K
+20.4%
3 $275K$320.6K
+16.6%
4 $380K$427.5K
+12.5%
5+ $439.7K$520K
+18.2%

Summary: Crystal Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.4%, 2 bedroom homes increased by 20.4%, 3 bedroom homes increased by 16.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 18.2%.

Median Sold Price Compared To Nearby Cities

Crystal Lake
+20.3%
Nunda Township
+12.3%
Algonquin Township
+9.8%
Lake in the Hills
+8.1%
Lakewood
+6.6%

Housing Supply in Crystal Lake, IL

How many homes are available in Crystal Lake, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
198228+15.2%

Summary: The Crystal Lake real estate market had 228 homes for sale in May 2024, a 15.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 3546
+31.4%
3 7672
-5.3%
4 6993
+34.8%
5+ 1817
-5.6%

Summary: The Crystal Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 31.4%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes decreased by 5.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5668+21.4%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Crystal Lake, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 68 homes were sold or pending in Crystal Lake in May 2024, up by 21.4% month-over-month. Of the 68 sold homes, 34% were sold under asking, 16% were sold at asking, and 50% were sold over asking.

Days on Market for Crystal Lake, IL

How long does it take to sell a home in Crystal Lake, IL?

Average Sale Time

May 2023May 2024CHANGE
22 Days25 Days+13.2%

Summary: Homes in Crystal Lake had an average of 25 days on market in May 2024, up by 13.2% compared to last year.

Breakdown of Home Sale Times

56 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 68 homes were sold in Crystal Lake; 82% of homes were sold within 30 days, 12% 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 8 Days Ago

Newest Listings in Crystal Lake, IL

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