Silver Lake home prices rise in the third quarter of 2020

Medium realestate5

The median sale price of a home sold in the third quarter of 2020 in Silver Lake rose by $96,500 while total sales decreased by 40%, according to

From July through September of 2020, there were three homes sold, with a median sale price of $221,500 - a 77.2% increase over the $125,000 median sale price for the same period of the previous year. There were five homes sold in Silver Lake in the third quarter of 2019.

The median sales tax in Silver Lake for the most recent year with available data, 2019, was $3,909, approximately 1.8% of the median home sale price for the third quarter of 2020.

The following table compares Silver Lake to other McHenry County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Fox River Grove26248.3%$255,000$233,7509.1%
Oakwood Hills196216.7%$245,000$242,5001%
Crystal Lake212246-13.8%$232,250$218,0006.5%
Silver Lake35-40%$221,500$125,00077.2%
Island Lake2534-26.5%$205,000$197,5003.8%

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