Are Home Prices Rising or Falling in Crystal Lake, IL?

In Crystal Lake, a city near Chicago, IL, home prices have edged up 2.6% to a median of $374,752. The gain is real, but it's smaller than what many nearby neighborhoods have posted, and the market is showing signs that the pace could slow further. Here's what's driving it and what it means for buyers and sellers.

The National Picture

Across the U.S., the median home price is about $399,000 as of the three months ending August 2026, a 2% year-over-year increase. The typical American household earns approximately $88,000 and directs roughly 34.4% of income toward housing, which is 1.6 points less than a year ago. Nationally, about 20% of listings have had a price drop, and inventory has reached four months of supply.

Home Prices in the Chicago Area

A typical household in the Chicago metro earns about $99,000 and spends approximately 35.1% of that on housing. Crystal Lake's median of $374,752 falls below the metro's central price points, and its 2.6% growth rate tracks close to the national average rather than the stronger gains some Chicago suburbs are posting.

Modest Appreciation Despite a Surge in Listings

Crystal Lake's neighborhoods are sending mixed signals. Coventry jumped 26.2% to $355,828, and Downtown Crystal Lake posted a 19% increase. But The Villages dropped 13.7% to $379,817, and Four Colonies rose only 4.8%. Citywide, 52.3% of homes sold above asking price and the sale-to-list ratio was 100.9%, both suggesting buyers are still competing. Yet 22.6% of listings have price reductions, above the national average and higher than most nearby suburbs.

Why Are Prices Rising in Crystal Lake?

Crystal Lake's modest price growth reflects a tug-of-war between growing supply and resilient demand. Active listings surged 15.7%, and new listings rose 13.8% — a significant jump that's given buyers more options. But pending sales also climbed 10.7%, keeping pace well enough to prevent prices from softening. At 2.1 months of supply, the market isn't exactly loose, but it's loosened compared to a year ago. Homes sit for a median of 48 days, and the relatively high rate of price cuts suggests some sellers initially overshoot on pricing before adjusting downward.

Limited to neighborhoods with at least 10 home sales in the period.

All data comes from Redfin and represents a three-month rolling average ending August 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.