In July 2017, there were nine homes sold, with a median sale price of $125,000 - a 30.9% decrease over the $181,000 median sale price for the same period of the previous year. There were 11 homes sold in Island Lake in July 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 3.8%.
The following table compares Island Lake to other McHenry County cities with similar median sales prices in July 2017:
| City | July 2017 Home Sales | July 2016 Home Sales | % change (Total Home Sales) | July 2017 Median Sales Price | July 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Richmond | 4 | 6 | -33.3% | $144,500 | $235,250 | -38.6% |
| Eastwood Manor | 3 | 2 | 50% | $140,000 | $138,500 | 1.1% |
| Pistakee Highlands | 8 | 12 | -33.3% | $137,750 | $119,000 | 15.8% |
| Lakemoor | 5 | 6 | -16.7% | $137,000 | $121,250 | 13% |
| Crystal Manor | 4 | 2 | 100% | $132,750 | $115,500 | 14.9% |
| Harvard | 10 | 8 | 25% | $127,500 | $98,500 | 29.4% |
| Island Lake | 9 | 11 | -18.2% | $125,000 | $181,000 | -30.9% |
| Holiday Hills | 1 | 0 | - | $118,500 | $0 | - |
| Union | 1 | 1 | 0% | $86,000 | $75,000 | 14.7% |
| Chemung | 1 | 0 | - | $76,500 | $0 | - |
| Wonder Center | 4 | 0 | - | $69,750 | $0 | - |
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