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 November 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

$95,333

$64/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$333(+0.4%)

Key Takeaway

The sold price of homes in McDonough County has remained the same since last year.

Summary: The median home sold price in McDonough County was $95,333 in November 2024, up 0.4% from last year, and the median price per square foot was $64.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $55K$35K
-36.4%
2 $63K$75K
+19.0%
3 $106.9K$101.2K
-5.3%
4 $142.5K$135K
-5.3%
5+ $167K$183K
+9.6%

Summary: McDonough County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.4%, 2 bedroom homes increased by 19%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 9.6%.

Median Sold Price Compared To Nearby Counties

Hancock County
+40.7%
Warren County
+34.6%
Fulton County
+10.7%
McDonough County
0.4%

Housing Supply in McDonough County, IL

How many homes are available in McDonough County, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
128130+1.6%

Summary: The McDonough County real estate market had 130 homes for sale in November 2024, a 1.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 2831
+10.7%
3 6263
+1.6%
4 3029
-3.3%
5+ 65
-16.7%

Summary: The McDonough County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1116+45.5%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

2 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. 86.7% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in McDonough County in November 2024, up by 45.5% month-over-month. Of the 15 sold homes, 87% were sold under asking, 13% 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

Nov 2023Nov 2024CHANGE
38 Days86 Days+126.9%

Summary: Homes in McDonough County had an average of 86 days on market in Nov 2024, up by 126.9% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

6 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 November 2024, 16 homes were sold in McDonough County; 44% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 38% 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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