Palatine Single Family Market Update

The above chart (click for larger view) shows the amount of inventory on a month by month basis over the past year for Palatine Illinois. The number above each bar is the number of months it would take to sell all homes on the market as of the end of that month.

Hope this snapshot helps provide a little insight into Palatine's real estate market.

Palatine Single Family Market Update (08/03/2008)

Palatine currently has 368 homes active on the market with prices ranging from $184,900 up to $1,295,000. There are 40 homes currently under contract and 58 homes have closed in the past 90 days.

Palatine and surrounding areas are starting to see the number of active listings level off. This is a good sign as the supply of homes doesn't seem to be increasing. Naturally if the supply increases there is an increased risk of prices decreasing, when supply levels become steady prices tend to level off and the bottom of the market may be near.

Good homes priced correctly are still selling. If you are thinking of buying or selling a Palatine home contact the Suburban House Hunters Team.

Past Market Updates:
06/18/2008
12/10/2007

Palatine Single Family Market Update (06/18/2008)

Palatine currently has 349 homes active on the market with prices ranging from $189,000 up to $1,295,000. There are 61 homes currently under contract and only 40 homes have closed in the past 90 days.

There has been an increase in activity in Palatine and surrounding areas over the past month and the number of homes under contract reflects this. There are currently more homes under contract then have closed in the past 3 months and that is a great sign.

If we continue to see improving numbers prices should level off and we should see a return to a more "normal" market.

Palatine on Squidoo

We have created what is called a "lens" on Squidoo.com. This is just page on about Palatine Illinois with some helpful links about Palatine. Please stop by and let us know if there is anything that we should add.

For more information about Squidoo visit this post about Squidoo.

12/10/07 Palatine Real Estate Update

There are currently 292 single family homes listed on the MLS with a price range of $224,900 up to $1,549,775. Of the 292 homes currently listed 26 of them are currently under contract. This leaves 266 single family homes available in all of Palatine.

Attached homes are either condos, townhomes, or coach homes. There are 627 attached homes on the market with a price range of $80,500 for a 1 bedroom condo up to $1,250,000 for a luxury 2 bedroom 2 bath penthouse condo. 101 of these listed homes are under contract as of today and that leaves 526 attached homes that are available.

These numbers show that Palatine is in a strong buyers market. We have seen an increase in activity that could be relief for homeowners looking to sell. For more detailed information about Palatine visit SuburbanHouseHunters.com.

Palatine Real Estate Market Update

Palatine Illinois is currently in a buyers market. That means there are more sellers looking to sell then there are buyers looking for homes. During a market like this home prices remain flat or drop in value. So far home prices have stayed about even in Palatine over the last 12 months.

Sellers also have to deal with longer marketing times. To make sure your home sells it needs to be clean, in good repair, and staged. When selling you need to put on a show, that is you market the home in the way buyers want to see it...not the way you normally would live in it.

Market update

For a quick overview of the single family real estate market in Palatine take a look at this blog post and this post. These posts will give you a quick overview of what is on the market, what has sold in the last 30 days and what is currently under contract.