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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McHenry County is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in McHenry County, IL

How much do homes in McHenry County, IL cost?

Median Sold Price

$329,836

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$25,031(+8.2%)

Key Takeaway

Homes in McHenry County have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in McHenry County was $329,836 in August 2024, up 8.2% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $106K$150K
+41.5%
2 $235K$259.9K
+10.6%
3 $289.8K$314K
+8.4%
4 $397.2K$425K
+7.0%
5+ $455K$500.7K
+10.0%

Summary: McHenry County housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.5%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 10%.

Median Sold Price Compared To Nearby Counties

Boone County
+13.6%
Kane County
+11.1%
McHenry County
+8.2%
Kenosha County
+7.5%
Lake County
+7.2%

Housing Supply in McHenry County, IL

How many homes are available in McHenry County, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
1,4391,568+9.0%

Summary: The McHenry County real estate market had 1,568 homes for sale in August 2024, a 9.0% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 1815
-16.7%
2 327369
+12.8%
3 570603
+5.8%
4 428465
+8.6%
5+ 96116
+20.8%

Summary: The McHenry County housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 20.8%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
459425-7.4%

Asking Price vs. Sold Price

147 Homes Were Sold
Under Asking

98 Homes Were Sold
At Asking

180 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McHenry County, you could pay more than the asking price. 42.4% of homes here sold above asking price last month.

Summary: A total of 425 homes were sold or pending in McHenry County in August 2024, down by 7.4% month-over-month. Of the 425 sold homes, 35% were sold under asking, 23% were sold at asking, and 42% were sold over asking.

Days on Market for McHenry County, IL

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

Average Sale Time

Aug 2023Aug 2024CHANGE
18 Days17 Days-3.4%

Summary: Homes in McHenry County had an average of 17 days on market in Aug 2024, down by 3.4% compared to last year.

Breakdown of Home Sale Times

346 Homes Were Sold
Under 30 Days

73 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 425 homes were sold in McHenry County; 81% of homes were sold within 30 days, 17% 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 19 Days Ago

Newest Listings in McHenry County, IL

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