Is Crystal Lake, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Crystal Lake has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $103.5K | $135K | +30.4% |
2 Bedrooms | $203.5K | $245K | +20.4% |
3 Bedrooms | $275K | $320.6K | +16.6% |
4 Bedrooms | $380K | $427.5K | +12.5% |
5+ Bedrooms | $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 | $290.9K | $350K | +20.3% |
Nunda Township | $300K | $337K | +12.3% |
Algonquin Township | $300.4K | $330K | +9.8% |
Lake in the Hills | $300.7K | $325K | +8.1% |
Lakewood | $496K | $528.5K | +6.6% |
Housing Supply in Crystal Lake, IL
How many homes are available in Crystal Lake, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
198 | 228 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 35 | 46 | +31.4% |
3 Bedrooms | 76 | 72 | -5.3% |
4 Bedrooms | 69 | 93 | +34.8% |
5+ Bedrooms | 18 | 17 | -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 2024 | May 2024 | CHANGE |
---|---|---|
56 | 68 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 25 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
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.