Is Algonquin Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Algonquin Township is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Algonquin Township, IL

How much do homes in Algonquin Township, IL cost?

Median Sold Price

$325,303

$167/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$25,053(+8.3%)

Key Takeaway

Homes in Algonquin Township have sold for 8.3% more than they did a year ago.

Summary: The median home sold price in Algonquin Township was $325,303 in April 2024, up 8.3% from last year, and the median price per square foot was $167.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $107K$134.9K
+26.1%
2 $215.5K$247K
+14.6%
3 $289.9K$310K
+6.9%
4 $385K$410.7K
+6.7%
5+ $445K$453K
+1.8%

Summary: Algonquin Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.1%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 1.8%.

Median Sold Price Compared To Nearby Cities

Crystal Lake
+21.7%
Algonquin
+8.4%
Algonquin Township
+8.3%
Cary
+6.2%

Housing Supply in Algonquin Township, IL

How many homes are available in Algonquin Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
290348+20.0%

Summary: The Algonquin Township real estate market had 348 homes for sale in April 2024, a 20.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 33
0.0%
2 5669
+23.2%
3 120137
+14.2%
4 89106
+19.1%
5+ 2233
+50.0%

Summary: The Algonquin Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 23.2%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
10097-3.0%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

55 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Algonquin Township, you could pay more than the asking price. 56.7% of homes here sold above asking price last month.

Summary: A total of 97 homes were sold or pending in Algonquin Township in April 2024, down by 3.0% month-over-month. Of the 97 sold homes, 32% were sold under asking, 11% were sold at asking, and 57% were sold over asking.

Days on Market for Algonquin Township, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
16 Days16 Days+4.7%

Summary: Homes in Algonquin Township had an average of 16 days on market in Apr 2024, up by 4.7% compared to last year.

Breakdown of Home Sale Times

86 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 97 homes were sold in Algonquin Township; 89% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 3% 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 28 Days Ago

Newest Listings in Algonquin Township, IL

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