Is McHenry, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McHenry is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in McHenry, IL

How much do homes in McHenry, IL cost?

Median Sold Price

$285,625

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$25,145(+9.7%)

Key Takeaway

Homes in McHenry have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in McHenry was $285,625 in November 2024, up 9.7% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $106K$124.9K
+17.8%
2 $216K$230K
+6.5%
3 $275K$295K
+7.3%
4 $366K$400K
+9.3%
5+ $326.5K$371K
+13.6%

Summary: McHenry housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.8%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 13.6%.

Median Sold Price Compared To Nearby Cities

Lakemoor
+16.5%
McHenry Township
+11.3%
McHenry
+9.7%
Johnsburg
0.1%

Housing Supply in McHenry, IL

How many homes are available in McHenry, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
192180-6.3%

Summary: The McHenry real estate market had 180 homes for sale in November 2024, a 6.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 21
-50.0%
2 5049
-2.0%
3 9087
-3.3%
4 4537
-17.8%
5+ 56
+20.0%

Summary: The McHenry housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 17.8%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
6058-3.3%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McHenry, you may be able to get a good deal. 53.4% of homes here sold below asking price last month.

Summary: A total of 58 homes were sold or pending in McHenry in November 2024, down by 3.3% month-over-month. Of the 58 sold homes, 53% were sold under asking, 19% were sold at asking, and 28% were sold over asking.

Days on Market for McHenry, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
12 Days18 Days+55.0%

Summary: Homes in McHenry had an average of 18 days on market in Nov 2024, up by 55% compared to last year.

Breakdown of Home Sale Times

51 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 58 homes were sold in McHenry; 88% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 2% 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 17 Days Ago

Newest Listings in McHenry, IL

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