In February 2022, there were five homes sold, with a median sale price of $206,500 - a 33.2% increase over the $155,000 median sale price for the same period of the previous year. There were seven homes sold in Island Lake in February 2021.
The median sales tax in Island Lake for the most recent year with available data, 2019, was $5,127, approximately 2.5% of the median home sale price for February 2022.
The following table compares Island Lake to other McHenry County cities with similar median sale prices in February 2022:
| City | Feb. 2022 Home Sales | Feb. 2021 Home Sales | % change (Total Home Sales) | Feb. 2022 Median Sales Price | Feb. 2021 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Pistakee | 2 | 1 | 100% | $255,000 | $125,000 | 104% |
| Holiday Hills | 1 | 0 | - | $247,000 | $0 | - |
| Lake in the Hills | 25 | 28 | -10.7% | $245,000 | $231,500 | 5.8% |
| Cary | 15 | 26 | -42.3% | $225,000 | $231,000 | -2.6% |
| Marengo | 14 | 11 | 27.3% | $215,000 | $130,000 | 65.4% |
| Island Lake | 5 | 7 | -28.6% | $206,500 | $155,000 | 33.2% |
| McCullom Lake | 3 | 2 | 50% | $205,000 | $136,250 | 50.5% |
| Woodstock | 32 | 24 | 33.3% | $205,000 | $209,250 | -2% |
| Pistakee Highlands | 11 | 7 | 57.1% | $198,000 | $160,000 | 23.8% |
| Wonder Lake | 13 | 19 | -31.6% | $185,000 | $150,000 | 23.3% |
| Crystal Gardens | 1 | 0 | - | $175,000 | $0 | - |
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