Is McDonough County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McDonough County is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, McDonough County was a Seller's Market.

Key Takeaway

McDonough County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in McDonough County, IL

How much do homes in McDonough County, IL cost?

Median Sold Price

$99,900

$65/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$12,900(+14.8%)

Key Takeaway

Homes in McDonough County have sold for 14.8% more than they did a year ago.

Summary: The median home sold price in McDonough County was $99,900 in October 2024, up 14.8% from last year, and the median price per square foot was $65.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $55K$35K
-36.4%
2 $60K$75K
+25.0%
3 $103.5K$102.5K
-1.0%
4 $127K$146.7K
+15.5%
5+ $131.7K$199.9K
+51.7%

Summary: McDonough County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.4%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 15.5%, and 5+ bedroom homes increased by 51.7%.

Median Sold Price Compared To Nearby Counties

McDonough County
+14.8%
Fulton County
+13.8%

Housing Supply in McDonough County, IL

How many homes are available in McDonough County, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
123125+1.6%

Summary: The McDonough County real estate market had 125 homes for sale in October 2024, a 1.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 02
+100.0%
2 2627
+3.8%
3 6159
-3.3%
4 2931
+6.9%
5+ 76
-14.3%

Summary: The McDonough County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 3.8%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
239-60.9%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McDonough County, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in McDonough County in October 2024, down by 60.9% month-over-month. Of the 9 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for McDonough County, IL

How long does it take to sell a home in McDonough County, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
44 Days75 Days+70.3%

Summary: Homes in McDonough County had an average of 75 days on market in Oct 2024, up by 70.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 9 homes were sold in McDonough County; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% 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 22 Days Ago

Newest Listings in McDonough County, IL

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