Algonquin, IL

The real estate market in Algonquin, Illinois is booming. The city has a population of just over 10,000 people and there is a lot of demand for housing. The median home price in the city is $269,000, which is significantly higher than the median home price in nearby communities.

One reason for the high demand for housing in Algonquin is the city's proximity to major metropolitan areas. Chicago and St. Louis are both only about an hour away from Algonquin, which makes it an attractive option for people who want to live close to major cities but also have access to nature and rural areas.

Another factor contributing to the high demand for real estate in Algonquin is the city's history as a center of manufacturing. Many families who have been living in Algonquin for generations have built their wealth through their businesses in manufacturing, and they are now looking to invest that money into property rather than spend it on rent or other expenses associated with living in urban areas.

Despite these factors contributing to the high demand for housing in Algonquin, there are still plenty of available properties available on the market. In fact, according to Zillow data, there was an average of 101 homes available per day during August 2018 – which was well above the average number of homes that were available during August 2017 (87 homes per day). This indicates that there is still plenty of room for buyers who are interested in purchasing a home in Algonquin.