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Wednesday, November 6, 2024

Rising home valuations in Henry County in Q4 2023

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Henry County Il Clerk And Recorder Barbara M. Link (2023) | Henry County Illinois

Henry County Il Clerk And Recorder Barbara M. Link (2023) | Henry County Illinois

The median sale price of a home sold in the fourth quarter of 2023 in Henry County rose by $17,850, while total sales increased by 21.7%, according to BlockShopper.com.

From October through December of 2023, 73 homes were sold in the county, with sale prices around $133,900. This is a 15.4% increase over the $116,050 median sale price during the same period in 2022, when there were 60 homes sold.

Based on the latest available data from 2021, the median sales tax on homes in Henry County was $3,006, which equates to 2.2% of the median home sale price for the fourth quarter of 2023.

The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.

The following histogram displays changes in median sales prices in Henry County from October 2022 to December 2023.

Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023$116,050$116,050$140,000$140,000$154,000$154,000$171,500$171,500$133,900$133,900

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