Are there fewer Short Sales and Foreclosures in Mchenry County, IL ?
September 14, 2022
The above statistics were compiled based on all detached single family homes listed for sale in Mchenry, Illinois between September 2021 and August 2022.
Of the 218 homes that were on the market in Mchenry during August 2022 71.6% never sold. 64.2% are still listed for sale and 7.3% were taken off the market by the home seller for one reason or another. Of all the homes that were for sale at some point during August 2022, only 28.4% were sold! This is not an anomaly. The percentage of homes that actually sell in any given month is small when compared to the total number of homes on the market. The key to being part of the "sold group" is to hire a Realtor that understands how to price your home correctly based on its location and condition.
During August 2022 the real estate market in Mchenry consisted of 96.8% Traditional homes sales. That is a decrease over July 2022 of 0.7% and a decrease over August 2021 of 0.2%. Increases in the percentage of Traditional home sales are good sign for the market. Higher percentages of Traditional home sales allow the home prices in the market to rise, whereas, higher percentages of Short Sales and Foreclosures drag the market prices down. The more foreclosures and short sales that are on the market, the lower the overall market prices will be, even for traditional homes.
