Here is a quick snapshot of the single family residentail real estate market in Arlignton Heights. If you are interest in more deatils please call the us at 847-749-3533.

Under Contract

List Price Range                                  # Listings             Avg. Days on Mkt

$150,000 - $199,999                           1                          216

$200,000 - $249,999                           1                          603

$250,000 - $299,999                           3                          240

$300,000 - $349,999                           4                          264

$350,000 - $399,999                           8                          175

$400,000 - $449,999                           6                          285

$450,000 - $499,999                           3                          143

$500,000 - $549,999                           5                          250

$550,000 - $599,999                           4                           87

$600,000 - $699,999                           2                           77

$700,000 - $799,999                           5                          376

$800,000 - $899,999                           1                          586

$1,000,000 - $1,999,999                     1                           204

 

Under Contract Summary

# Units     Avg. MT    Median List Price     Avg. List Price    Max. List Price    Min. List Price

    44         240              $449,900             $492,834          $1,099,999        $189,900

Active Listings

List Price Range                                 # Listings                  Avg. Days on Mkt

$150,000 - $199,999                           1                             441

$200,000 - $249,999                           9                               98

$250,000 - $299,999                         47                              153

$300,000 - $349,999                         53                              215

$350,000 - $399,999                         63                              204

$400,000 - $449,999                         59                              173

$450,000 - $499,999                         49                              192

$500,000 - $549,999                         25                              162

$550,000 - $599,999                         26                              193

$600,000 - $699,999                         29                              182

$700,000 - $799,999                         26                              280

$800,000 - $899,999                         22                              314

$900,000 - $999,999                         15                              198

$1,000,000 - $1,999,999                   16                               340

 

Active Listings Summary

# Units    Avg. MT     Median List Price     Avg. List Price        Max. List Price        Min. List Price

      440      203             $449,900             $519,331              $1,895,000           $189,900

 

Market conditions provided by the Suburban House Hunters Team. These market stats are just a summary of the market conditions in Arlington Heights. If you would like more details about the current conditions or information on other suburbs including Algonquin, Barrington, Bartlett, Buffalo Grove, Chicago, Elgin, Elk Grove Village, Hoffman Estates, Mount Prospect, Northbrook, Palatine, Prospect Heights, Rolling Meadows, Roselle, Schaumburg, Streamwood, or Wheeling feel free to contact us.

 

The rental market in Palatine is currently very strong and vacancy rates are very low. If you have a home or condo to rent in Palatine you will be looking at it renting for at least 5-10% higher then last year at this time and it will rent quickly.

Renters the home you look at today many times will be gone tomorrow. We have rented multiple homes in under 24 hours. This means if you find something you like you need to act fast and expect to pay close to full asking rent.

 

Residential Rentals on Market: 91

Lowest Price: $850

Highest Price: $7500 (large newer single famliy home)

Price range for 1 bedroom condos: $850 - $1,490

Price range for 2 bedroom condos: $875 - $2,100

 

With the increases in rental rates many renters are starting to find that purchasing a home is a less expensive option then renting. If you are interested in viewing all the homes on the market for sale or for rent use our Palatine MLS search.

The rental market in Arlinton Heights is currently very strong and vacancy rates are very low. If you have a home or condo to rent in Arlington Heights you will be looking at it renting for at least 5-10% higher then last year at this time and it will rent quickly.

Renters the home you look at today many times will be gone tomorrow. We have rented multiple homes in under 24 hours. This means if you find something you like you need to act fast and expect to pay close to full asking rent.

Residential Rentals on Market: 61

Lowest Price: $850

Highest Price: $3950

Price range for 1 bedroom condos: $850 - $2,100

Price range for 2 bedroom condos: $1,100 - $2,575

 

With the increases in rental rates many renters are starting to find that purchasing a home is a less expensive option then renting. If you are interested in viewing all the homes on the market for sale or for rent use our Arlington Heights MLS search.

 

With mortgage companies becoming stricter with who they will lend money to many potential home buyers are finding themselves in the Chicagoland rental market. Many buyers are also choosing to take a wait and see approach to the current buyers market and continuing to rent. As the market changes the Suburban House Hunters Team has always attempted to cater it services to consumers needs.

Renters now have a wide range of choices in the rental market including condos, townhomes, and single family homes. The number of individually owned homes available to renters has increased over the last few months mainly due to the softer real estate market. For many of these homes it is the first time they have ever been rented and many include upgrades not normally found in a rental.

If you are interested in finding a rental home or apartment contact us and put our team of residential real estate agents to work for you.

Related Reading:

Arlington Heights Rentals

Schaumburg Rentals

Palatine Rentals

Time for a little fun. This is a truly funny yet accurate representation of what caused the mortgage crisis. This is a cartoon that shows the how at different levels this whole mess started.

From the consumer, to the mortgage broker, to the banks, to Wall Street, to the accountants, to those that truly got effected by purchasing the mortgage backed securities this covers it all. 

The single family market in Algonquin, IL currently has 296 homes on the market and there is about a 14 month inventory.

• Currently listed: 296
• Under Contract: 31
• Sold in last 180 days: 124
• Low Price: $135,900
• High Price: $1,350,000

 

The attached housing market (condos & townhomes) in Algonquin, IL currently has 126 attached homes on the market and there is about a 12 month inventory.

• Currently listed: 126
• Under Contract: 18
• Sold in last 180 days: 65
• Low Price: $119,500
• High Price: $349,900

If you need more information about real estate in Algonquin feel free to visit SuburbanHouseHunters.com.

Here is a quick overview of the single family market in Palatine, IL. There currently is about 28 months of inventory and the increase is most likely seasonal.

• currently on the market: 399
• currently under contract: 55
• closed in the last 90 days: 42
• est. inventory: 28 months
• lowest price: $229,000
• highest price: $1,800,000

Here is a quick overview of the condo market in Palatine, IL. There currently is about 22 months of inventory and this increase might be more than just seasonal. 

• currently on the market: 425
• currently under contract: 63
• closed in the last 90 days: 44
• est. inventory: 28 months  
• lowest price: $96,900
• highest price: $599,000

Past Market Updates: 09/25/06, 11/30/06

Visit Suburban House Hunters for more information about Palatine Real Estate.

Spring Hill Condos

Wanted to announce that my team is currently working on a condo conversion in Roselle Illinois. The project has studios, one bedrooms, and two bedroom two bath models. There are 264 units to be sold and the prices start from $99,900.

If anyone has any clients looking for investment properties or clients looking to purchase a condo in Roselle just contact me and I will register them for you. We are cooperating with brokers, give me a call for current information.

All current information about Spring Hill Condos is on our Roselle Condos site.

Below are the closed transactions for 2005 and 11 months of 2006 for Arlington Heights, IL per the mls. As you can see there has been a 10% drop in closings for the current year. This number is only part of the truth in my opinion. Less homeowners are selling by owner which has increased the number of recorded sales in the mls for 2006. This means the numbers actually look better then they really are.

Also 2006 started off as a great year with 27 more units closed by the end of March then in 2005, that's a 34% increase. After that is when things slowed down and in a big way. The next 8 month of 2006 have 20% less closing than in 2005. Only 406 from April - Nov 2006 vs. 485 in 2005 during the same period.

Here are the numbers before we go any further:

2005 closed single family units

• Jan  '05 - 15
• Feb  '05 - 21
• Mar  '05 - 42
• Apr  '05 - 55
• May  '05 - 64
• Jun  '05 - 92
• July  '05 - 54
• Aug  '05 - 68
• Sept '05 - 44
• Oct  '05 - 60
• Nov  '05 - 48
• Dec  '05 - 31

Total = 594 closed in 2005 (563 Jan-Nov 2005)

2006 closed single family units

• Jan  '06 - 31 
• Feb  '06 - 26
• Mar  '06 - 48
• Apr  '06 - 41
• May  '06 - 66
• Jun  '06 - 60
• July '06 - 54
• Aug  '06 - 68
• Sept '06 - 52
• Oct  '06 - 32
• Nov  '06 - 33
• Dec  '06 - ????

Total = ??? closed in 2006 (511 Jan-Nov 2006 Down about 10% from 2005)

 

What does this mean?

Sellers are in for a longer marketing period and will have to price their homes correctly. Their homes will have to be clean, minor repairs must be done, and owners will have to listen to suggestions made by their Realtor(R).

Sellers are also going to have to start looking for agents that have a strong internet presence as 80% of buyers start their search online. For example go to Google and search for Arlington Heights Real Estate and see what agents are at the top of the results and interview them (note that those in the "sponsored links area are just paid ads). If a site can get into the top 3 for your city for a term like "city real estate" they most likely have a good web presence as this is not an easy thing to do.

Hope this gives a clear picture of the Arlington Heights real estate market.

View our lens on Arlington Heights and Algonquin.

Here is a quick overview of the single family market in Palatine, IL. There currently is about 19 months of inventory and the increase is most likely seasonal.

• currently on the market: 270
• currently under contract: 38
• closed in the last 90 days: 43
• est. inventory: 19 months
• lowest price: $235,000
• highest price: $1,695,000

Here is a quick overview of the condo market in Palatine, IL. There currently is about 22 months of inventory and this increase might be more than just seasonal. 

• currently on the market: 314
• currently under contract: 34
• closed in the last 90 days: 42
• est. inventory: 22 months (9 month increase from the 9/25 update) 
• lowest price: $94,900
• highest price: $525,000

Past Market Updates: 09/25/06

Visit http://www.suburbanhousehunters.com/ for more information about Palatine Heights Real Estate.

Check out or profile on these sites: Squidoo and Naymz.