September 2024 Market Update: McHenry, Illinois

Welcome to the Stellar Results Realty September 2024 market update! Here, we’ll take a look at the latest real estate trends and insights in McHenry, Illinois. Whether you’re considering buying or selling, understanding these key metrics will help you make informed decisions. Let’s dive in!

Inventory Overview: Months Supply of Inventory

Currently, McHenry has a 1.88 Months Supply of Inventory. This figure represents the time it would take to sell all available homes on the market at the current sales pace. Over the past year, we’ve seen a 55.37% increase in inventory, giving buyers more options to choose from and indicating a slight shift toward a more balanced market. Keeping an eye on inventory trends can be helpful for both buyers and sellers.

Strong Market for Sellers: List to Sold Price Percentage

The List to Sold Price percentage is holding steady at 99.3%, which means that homes are selling close to their listing prices. Sellers in McHenry continue to receive excellent value for their homes, reflecting strong demand and effective pricing strategies. For buyers, this metric emphasizes the importance of making competitive offers.

Market Speed: Median Days on Market

In McHenry, the Median Days on Market is currently 27 days. This relatively short time frame indicates that homes are selling quickly, highlighting high buyer interest and demand. For sellers, this is promising news, as properties are moving from listing to sale efficiently.

Home Values: Median Sold Price

The Median Sold Price in McHenry sits at $306,500. This price point offers a snapshot of current property values, providing buyers and sellers with a helpful benchmark. A steady or gradually increasing median price often reflects a resilient market, making it a good time for both buying and selling.

The Bottom Line

Overall, McHenry’s real estate market remains dynamic, with a balance of opportunities for both buyers and sellers. Increased inventory, strong sale prices, and relatively quick sales illustrate a market with ongoing demand and a potential shift toward equilibrium. Staying informed on these trends is essential for making confident real estate decisions.

If you have any questions or are considering buying or selling in McHenry, our team at Stellar Results Realty is here to help. With expert guidance and up-to-date information, we’re ready to support you in navigating the McHenry real estate market.

Thank you for visiting Stellar Results Realty’s market update, and here’s to successful buying or selling in McHenry!