Welcome to the first of my monthly reports on the real estate market in Palatine. During July 2011 there were a total of 24 single family homes closed and 47 attached homes closed. This chart shows current listings, July sales, July new listings and homes currently under contract.
If you are interested to see if home prices are still falling or whether we might even be inching up a little, let's look at July 2011 compared to July 2010.
The average single family home sold in July 2011 for $326,715 and for attached the average sale price was $115,618
The average single family home sold in July 2010 for $426,508 and for attached the average sale price was $100,594
So this seems to support a drop in pricing for single family homes and an increase in pricing for attached homes. However it's always better to watch a trending pattern so I'll come back at the end of August and publish a trending report once I have more data points.
If you have any questions for me about the state of the Palatine real estate market, just send an email.