Is Algonquin Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Algonquin Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Algonquin Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Algonquin Township, IL

How much do homes in Algonquin Township, IL cost?

Median Sold Price

$340,000

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,955(+7.9%)

Key Takeaway

Homes in Algonquin Township have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in Algonquin Township was $340,000 in October 2024, up 7.9% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $123K$159.5K
+29.7%
2 $232.3K$260K
+11.9%
3 $305K$325.3K
+6.7%
4 $405K$425K
+4.9%
5+ $439.9K$520K
+18.2%

Summary: Algonquin Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.7%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 18.2%.

Median Sold Price Compared To Nearby Cities

Crystal Lake
+9.2%
Algonquin Township
+7.9%
Algonquin
+7.0%
Cary
+5.0%

Housing Supply in Algonquin Township, IL

How many homes are available in Algonquin Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
347401+15.6%

Summary: The Algonquin Township real estate market had 401 homes for sale in October 2024, a 15.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 49
+125.0%
2 8196
+18.5%
3 130156
+20.0%
4 102102
0.0%
5+ 3038
+26.7%

Summary: The Algonquin Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 125%, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 26.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
100104+4.0%

Asking Price vs. Sold Price

43 Homes Were Sold
Under Asking

28 Homes Were Sold
At Asking

33 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Algonquin Township, you may be able to get a good deal. 41.3% of homes here sold below asking price last month.

Summary: A total of 104 homes were sold or pending in Algonquin Township in October 2024, up by 4.0% month-over-month. Of the 104 sold homes, 41% were sold under asking, 27% were sold at asking, and 32% were sold over asking.

Days on Market for Algonquin Township, IL

How long does it take to sell a home in Algonquin Township, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
18 Days17 Days-3.2%

Summary: Homes in Algonquin Township had an average of 17 days on market in Oct 2024, down by 3.2% compared to last year.

Breakdown of Home Sale Times

86 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 104 homes were sold in Algonquin Township; 83% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 1% 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 16 Days Ago

Newest Listings in Algonquin Township, IL

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