How Competitive is the Algonquin, IL Housing Market?

by Jenny Stokes Habetler

Algonquin, a city near Chicago, IL, is a highly competitive housing market. About 44% of homes sold above list price in the 3 months ending June 2026, and the typical home sold in just 47 days.

The National Picture

Nationally, 24.6% of homes sold above asking in June 2026, and the typical home spent 50 days on market. Algonquin's 44.8% sold-above rate exceeds the national average, and its 47-day median keeps pace. Buyers here face more competition than in most U.S. markets.

East and West Algonquin Tell Different Stories

Within Algonquin, competition varies sharply by area. East Algonquin (63% sold above, 78% off-market in two weeks) operates like a different market than West Algonquin (29%, 43%)—a gap of 34 percentage points in overbidding between the two. Citywide, the blended 45% sold-above rate obscures these extremes, and buyers should research specific subdivisions carefully.

Why is Algonquin Highly Competitive?

Algonquin is highly competitive because a wave of new buyer interest is colliding with a housing supply that hasn't kept up. At 2.4 months of supply, the market tilts firmly toward sellers. Pending sales surged 21% year over year, confirming strong buyer demand. Despite 19% of listings carrying price drops, the high sold-above rate shows correctly priced homes still attract bidding wars. Days on market shrank 1 days from last year, reflecting an accelerating pace.

Nearby Neighborhoods

Neighborhood	Sold Above List	Sale-to-List	Days on Market	Off Mkt in 2 Wks
Algonquin	44.8%	100.7%	47 days	55.8%
West Algonquin	28.9%	99.7%	57 days	42.9%
East Algonquin	63.0%	101.8%	37 days	78.1%
Far West Algonquin	44.4%	100.5%	44 days	47.8%
Crystal Lake, IL	50.9%	101.0%	46 days	65.6%
Huntley, IL	34.1%	100.3%	46 days	60.4%

Limited to neighborhoods with at least 10 home sales in the period.

All data comes from Redfin and represents a three-month rolling average ending June 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.