Is Machesney Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Machesney Park is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Machesney Park has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Machesney Park, IL

How much do homes in Machesney Park, IL cost?

Median Sold Price

$189,900

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,900(+18.7%)

Key Takeaway

Homes in Machesney Park have sold for 18.7% more than they did a year ago.

Summary: The median home sold price in Machesney Park was $189,900 in October 2024, up 18.7% from last year, and the median price per square foot was $131.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $64K$74K
+15.6%
2 $92K$114.7K
+24.7%
3 $162K$189.9K
+17.2%
4 $229K$253.7K
+10.8%
5+ $202.5K$315K
+55.6%

Summary: Machesney Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 24.7%, 3 bedroom homes increased by 17.2%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 55.6%.

Median Sold Price Compared To Nearby Cities

Owen Township
+21.7%
Harlem Township
+21.5%
Machesney Park
+18.7%
Loves Park
+9.4%
Roscoe
+8.5%

Housing Supply in Machesney Park, IL

How many homes are available in Machesney Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4244+4.8%

Summary: The Machesney Park real estate market had 44 homes for sale in October 2024, a 4.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 77
0.0%
3 2227
+22.7%
4 87
-12.5%
5+ 32
-33.3%

Summary: The Machesney Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1513-13.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Machesney Park, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Machesney Park in October 2024, down by 13.3% month-over-month. Of the 13 sold homes, 46% were sold under asking, 46% were sold at asking, and 8% were sold over asking.

Days on Market for Machesney Park, IL

How long does it take to sell a home in Machesney Park, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days19 Days+19.9%

Summary: Homes in Machesney Park had an average of 19 days on market in Oct 2024, up by 19.9% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 13 homes were sold in Machesney Park; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% 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 20 Days Ago

Newest Listings in Machesney Park, IL

Nearby Markets to Machesney Park, IL

What housing markets are near Machesney Park, IL?