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 May 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

$273,736

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$22,986(+9.2%)

Key Takeaway

Homes in McHenry have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in McHenry was $273,736 in May 2024, up 9.2% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $94.7K$122.4K
+29.3%
2 $202.5K$228.5K
+12.8%
3 $266.2K$284K
+6.7%
4 $350K$387K
+10.6%
5+ $325K$397.5K
+22.3%

Summary: McHenry housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.3%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 22.3%.

Median Sold Price Compared To Nearby Cities

Johnsburg
+30.1%
Lakemoor
+14.4%
McHenry Township
+11.0%
McHenry
+9.2%
McCullom Lake
+5.3%

Housing Supply in McHenry, IL

How many homes are available in McHenry, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
156157+0.6%

Summary: The McHenry real estate market had 157 homes for sale in May 2024, a 0.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 34
+33.3%
2 4746
-2.1%
3 8175
-7.4%
4 2125
+19.0%
5+ 47
+75.0%

Summary: The McHenry housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Apr 2024May 2024CHANGE
6157-6.6%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McHenry, you could pay more than the asking price. 54.4% of homes here sold above asking price last month.

Summary: A total of 57 homes were sold or pending in McHenry in May 2024, down by 6.6% month-over-month. Of the 57 sold homes, 30% were sold under asking, 16% were sold at asking, and 54% 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

May 2023May 2024CHANGE
16 Days10 Days-31.6%

Summary: Homes in McHenry had an average of 10 days on market in May 2024, down by 31.6% compared to last year.

Breakdown of Home Sale Times

51 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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 May 2024, 57 homes were sold in McHenry; 89% of homes were sold within 30 days, 11% 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 1 Day Ago

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