From January through December of 2017, there were 55 homes sold, with a median sale price of $183,000 - a 0.3% decrease over the $183,500 median sale price for the previous year. There were 46 homes sold in Island Lake in 2016.
The median sales tax in Island Lake for 2017 was $4,772. In 2016, the median sales tax was $4,516. This marks an increase of 5.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.6%.
The following table compares Island Lake to other Lake County cities with similar median sales prices in 2017:
| City | Jan. - Dec. 2017 Home Sales | Jan. - Dec. 2016 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2017 Median Sales Price | Jan. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Grayslake | 466 | 474 | -1.7% | $205,000 | $169,500 | 20.9% |
| Gages Lake | 194 | 174 | 11.5% | $198,200 | $175,500 | 12.9% |
| Lindenhurst | 302 | 256 | 18% | $193,150 | $195,500 | -1.2% |
| Round Lake | 268 | 254 | 5.5% | $190,000 | $169,000 | 12.4% |
| Mylith Park | 6 | 4 | 50% | $188,050 | $129,500 | 45.2% |
| Island Lake | 55 | 46 | 19.6% | $183,000 | $183,500 | -0.3% |
| Mundelein | 194 | 178 | 9% | $177,700 | $169,000 | 5.1% |
| Fox Lake | 144 | 142 | 1.4% | $170,000 | $154,500 | 10% |
| Lakemoor | 51 | 29 | 75.9% | $169,900 | $189,444 | -10.3% |
| Ingleside Shore | 106 | 98 | 8.2% | $164,450 | $139,000 | 18.3% |
| Beach Park | 220 | 165 | 33.3% | $160,750 | $144,000 | 11.6% |
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