Is McHenry, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, McHenry has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $94.7K | $122.4K | +29.3% |
2 Bedrooms | $202.5K | $228.5K | +12.8% |
3 Bedrooms | $266.2K | $284K | +6.7% |
4 Bedrooms | $350K | $387K | +10.6% |
5+ Bedrooms | $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 | $314K | $408.5K | +30.1% |
Lakemoor | $218.4K | $250K | +14.4% |
McHenry Township | $247.7K | $275K | +11.0% |
McHenry | $250.7K | $273.7K | +9.2% |
McCullom Lake | $189K | $199K | +5.3% |
Housing Supply in McHenry, IL
How many homes are available in McHenry, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
156 | 157 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 47 | 46 | -2.1% |
3 Bedrooms | 81 | 75 | -7.4% |
4 Bedrooms | 21 | 25 | +19.0% |
5+ Bedrooms | 4 | 7 | +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 2024 | May 2024 | CHANGE |
---|---|---|
61 | 57 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 10 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
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.