Is McLean County, 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, McLean County has remained a Seller's Market.
Housing Prices in McLean County, IL
How much do homes in McLean County, IL cost?
Median Sold Price
$234,373
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in McLean County was $234,373 in May 2024, up 11.6% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $122.5K | $136.5K | +11.4% |
2 Bedrooms | $139.5K | $151.2K | +8.4% |
3 Bedrooms | $199.9K | $215K | +7.5% |
4 Bedrooms | $299.9K | $325K | +8.3% |
5+ Bedrooms | $322.4K | $280K | -13.2% |
Summary: McLean County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 13.2%.
Median Sold Price Compared To Nearby Counties
Piatt County | $180K | $222.4K | +23.6% |
Woodford County | $185K | $221.2K | +19.6% |
McLean County | $210K | $234.3K | +11.6% |
Ford County | $122K | $135K | +10.7% |
De Witt County | $128.5K | $137K | +6.6% |
Housing Supply in McLean County, IL
How many homes are available in McLean County, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
550 | 650 | +18.2% |
Summary: The McLean County real estate market had 650 homes for sale in May 2024, a 18.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 7 | +75.0% |
2 Bedrooms | 92 | 105 | +14.1% |
3 Bedrooms | 250 | 283 | +13.2% |
4 Bedrooms | 170 | 209 | +22.9% |
5+ Bedrooms | 34 | 46 | +35.3% |
Summary: The McLean County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 35.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
151 | 192 | +27.2% |
Asking Price vs. Sold Price
70 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
86 Homes Were Sold
Over Asking
Summary: A total of 192 homes were sold or pending in McLean County in May 2024, up by 27.2% month-over-month. Of the 192 sold homes, 36% were sold under asking, 19% were sold at asking, and 45% were sold over asking.
Days on Market for McLean County, IL
How long does it take to sell a home in McLean County, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 32 Days | +49.1% |
Summary: Homes in McLean County had an average of 32 days on market in May 2024, up by 49.1% compared to last year.
Breakdown of Home Sale Times
156 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Summary: During May 2024, 192 homes were sold in McLean County; 81% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.