From October through December of 2021, there were eight homes sold, with a median sale price of $225,356 - a 4.5% decrease over the $236,000 median sale price for the same period of the previous year. There were 10 homes sold in Island Lake in the fourth quarter of 2020.
The median sales tax in Island Lake for the most recent year with available data, 2019, was $4,878, approximately 2.2% of the median home sale price for the fourth quarter of 2021.
The following table compares Island Lake to other Lake County cities with similar median sale prices in the fourth quarter of 2021:
| City | Oct. - Dec. 2021 Home Sales | Oct. - Dec. 2020 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2021 Median Sales Price | Oct. - Dec. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Round Lake | 73 | 37 | 97.3% | $253,000 | $159,000 | 59.1% |
| Park City | 2 | 2 | 0% | $244,750 | $154,500 | 58.4% |
| Ingleside Shore | 22 | 13 | 69.2% | $243,055.50 | $223,000 | 9% |
| Gages Lake | 57 | 31 | 83.9% | $230,000 | $213,500 | 7.7% |
| Round Lake Heights | 14 | 6 | 133.3% | $229,950 | $205,500 | 11.9% |
| Island Lake | 8 | 10 | -20% | $225,356 | $236,000 | -4.5% |
| Beach Park | 61 | 29 | 110.3% | $222,000 | $184,000 | 20.7% |
| Winthrop Harbor | 39 | 23 | 69.6% | $220,000 | $167,000 | 31.7% |
| Fox Lake Hills | 17 | 10 | 70% | $215,000 | $140,890.70 | 52.6% |
| Mundelein | 47 | 31 | 51.6% | $215,000 | $210,000 | 2.4% |
| Fox Lake | 53 | 29 | 82.8% | $205,000 | $170,000 | 20.6% |
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