In June 2017, there were 10 homes sold, with a median sale price of $138,500 - a 14.5% increase over the $121,000 median sale price for the same period of the previous year. There were 16 homes sold in Island Lake in June 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 3.5%.
The following table compares Island Lake to other McHenry County cities with similar median sales prices in June 2017:
| City | June 2017 Home Sales | June 2016 Home Sales | % change (Total Home Sales) | June 2017 Median Sales Price | June 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Crystal Gardens | 2 | 1 | 100% | $157,500 | $51,890 | 203.5% |
| Wonder Lake | 30 | 28 | 7.1% | $151,500 | $126,500 | 19.8% |
| Eastwood Manor | 3 | 1 | 200% | $142,000 | $130,000 | 9.2% |
| Pistakee Highlands | 13 | 8 | 62.5% | $140,000 | $147,000 | -4.8% |
| Lakemoor | 4 | 7 | -42.9% | $139,000 | $155,000 | -10.3% |
| Island Lake | 10 | 16 | -37.5% | $138,500 | $121,000 | 14.5% |
| Lilymoor | 1 | 1 | 0% | $137,000 | $180,000 | -23.9% |
| Holiday Hills | 2 | 1 | 100% | $131,500 | $171,500 | -23.3% |
| Harvard | 17 | 12 | 41.7% | $125,000 | $119,250 | 4.8% |
| Crystal Manor | 2 | 0 | - | $107,000 | $0 | - |
| McCullom Lake | 2 | 2 | 0% | $99,000 | $87,500 | 13.1% |
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