In February 2017, there were three homes sold, with a median sale price of $153,500 - a 11.5% decrease over the $173,500 median sale price for the same period of the previous year. There were four homes sold in Island Lake in February 2016.
The median sales tax in Island Lake for 2017 was $4,802.65. In 2016, the median sales tax was $4,657.10. This marks an increase of 3.1%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 3.1%.
The following table compares Island Lake to other McHenry County cities with similar median sales prices in February 2017:
| City | Feb. 2017 Home Sales | Feb. 2016 Home Sales | % change (Total Home Sales) | Feb. 2017 Median Sales Price | Feb. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Lake in the Hills | 32 | 31 | 3.2% | $177,587.50 | $182,000 | -2.4% |
| Pistakee | 1 | 1 | 0% | $175,000 | $52,000 | 236.5% |
| Crystal Lake | 40 | 44 | -9.1% | $173,250 | $163,500 | 6% |
| Pistakee Highlands | 4 | 3 | 33.3% | $165,000 | $70,000 | 135.7% |
| Burtons Bridge | 1 | 0 | - | $159,000 | $0 | - |
| Island Lake | 3 | 4 | -25% | $153,500 | $173,500 | -11.5% |
| Silver Lake | 3 | 0 | - | $150,000 | $0 | - |
| McHenry | 33 | 30 | 10% | $145,000 | $128,750 | 12.6% |
| Holiday Hills | 3 | 0 | - | $132,000 | $0 | - |
| Johnsburg | 5 | 7 | -28.6% | $129,000 | $280,000 | -53.9% |
| Woodstock | 20 | 23 | -13% | $125,750 | $119,000 | 5.7% |
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