Straight Answers: Should I Sell My House Now or Wait?

This is one of the most common questions I hear from homeowners in Lake County and McHenry County right now. And it makes sense. Prices are strong, mortgage rates are higher than they were a few years ago, and nobody wants to leave money on the table.

The short answer is: it depends on your situation. But the factors that go into that decision are clearer than most people think. Let me walk through them with you.

What the Market Looks Like Right Now

As of summer 2026, home prices in Lake County have continued to climb. The median sale price is around $444,000, up roughly 6% from this time last year. McHenry County has also seen steady gains, with the median sale price near $369,000, up about 4% year over year.

We are still in a seller's market in both counties. Inventory is low — well below what would be considered a balanced market. That means well-priced homes in good condition are selling, often with multiple offers. Homes in top school districts and desirable neighborhoods still move quickly.

That said, the market has cooled from the frenzy of 2021 and 2022. Buyers are more deliberate. Overpriced homes sit longer. The days of listing a home and getting twenty offers sight unseen are behind us, and that is actually a healthy thing.

The Case for Selling Now

If your home is in good condition and you price it realistically, this is still a strong time to sell. Here is why:

• Low inventory works in your favor. Buyers have fewer homes to choose from, so a well-presented home stands out.
• Prices are at or near all-time highs. In Lake County, values have appreciated roughly 70% since early 2020. That is significant equity.
• Buyers who are in the market are serious. With mortgage rates where they are, the buyers who are looking are motivated and pre-approved.
• You can set your terms. In a seller's market, you have more leverage on timing, contingencies, and price.

For many homeowners, the question isn't really about the market. It is about their personal situation. If your home no longer fits your life, waiting for a "better" time is usually a mistake.

The Case for Waiting

There are also good reasons to wait, and I will not pretend otherwise:

• If you do not have a clear next step. Selling without knowing where you are going can create unnecessary stress. Have a plan first.
• If your home needs significant repairs or updates. Homes that show well sell faster and for more money. If your home needs work, you may net more by making strategic improvements first.
• If you refinanced at a very low rate. Many homeowners locked in 3% or 4% mortgage rates. That is a valuable asset. Selling means giving that up, and buying your next home will come with a higher rate. That trade-off is real and worth considering carefully.
• If you have time on your side. If there is no pressing reason to move — no life change driving the decision — there is nothing wrong with waiting until you feel ready.

The Question Nobody Asks But Everyone Should

The most important question is not "Should I sell now or later?" It is: What is the right move for my family right now?

Real estate decisions are life decisions. The market matters, but it is not the only factor. Here are the questions I ask every client who is wrestling with this:

1. Has your life changed in a way that makes your current home less workable?
2. Do you need to free up equity for retirement, debt, or another major goal?
3. Is the maintenance or cost of your current home becoming a burden?
4. Do you have a clear idea of where you would go next?
5. Are you making this decision out of fear, or out of a thoughtful plan?

When we sit down together, I do not try to convince you one way or the other. I help you think through your situation clearly so you can make a decision you feel good about.

What I Tell People Who Are Stuck on This Question

After 50+ years in this business, I have seen a lot of markets. I have seen prices go up, and I have seen them come down. What I have also seen is that people who wait for the "perfect" time often end up waiting a long time.

There is no perfect time. There is only your time — when the decision aligns with what matters most to you and your family.

If you are thinking about selling, the best first step is not a listing. It is a conversation. Let us look at the numbers for your specific home, talk through your goals, and figure out what makes sense for your situation. No pressure, no sales pitch — just straight answers.

The Bottom Line

The Lake County and McHenry County markets are still strong for sellers. Prices are up, inventory is low, and serious buyers are out there. But the right decision depends on your personal situation — not on trying to time the market.

If you have been wondering whether to sell now or wait, call me. I will help you understand your options, look at your numbers, and make a clear-headed decision. That is what I have been doing for over five decades, and I would be honored to help you, too.