Category Archive

Single Family 
Active listings:  471
Under contract:  85
Sold & Closed:  175
Average days on market:  203

Condo/Towhomes
Active listings:   498
Under contract:  47
Sold & Closed:  119
Avg days on market: 167  

2008 is already 1/2 over and the numbers above show the results so far for Arlington Heights Real Estate. The numbers show the buyer’s market everyone knows we are working in.  That being said, there are still sales happening when the property is priced correctly for the condition and location.  Then when the right buyer comes along, they can’t pass up the house.  

Data is courtesy of MRED MLS and covers 1/1/08 - 6/30/08.

1st quarter ‘08 update for Arlington Heights homes and Real Estate:

Single Family                                        Condo/Towhomes
Active listings:  416                              Active listings:  439
Under contract:  65                               Under contract:  40
Sold & Closed:  35                                Sold & Closed:  40
Average days on market:  187            Avg days on market:  182

More Arlington Heights homes and Real Estate are starting to go under contract, but there are still way too many listings keeping us in a buyer’s market.  Over the next few months, we’ll get a better feel for how the entire year will end up.  The Winter was brutal, but there are already many more buyers out looking recently. Interest rates are fantastic again on 30 year fixed loans, and if you price your home accurately you will sell it.  

Best Value in Mallard Cove - just $128,900!!!  Brand new carpet, great unit in a great location!

Take a tour.

504 single family homes sold and closed in 2007 with an average sale price of:  $457,282.  It took an average of 154 days on the market to sell.  Heading into the new year, there are 371 listings on the market, 28 of those are under contract and market times are higher than last years average at 216. 

For townhomes last year, 100 closed at an average sale price of $290,706 in 102 days.  I would have to say that market time is on the lower end for properties in the area.  There are 63 townhome listings available now, with 4 under contract.  The average days on market is up here too - 184 days.

And what about all of those condos?  340 were closed in 2007.  With an average price of $183,359 and 110 days on the market. There are 294 available now, of those just 8 are under contract.  Average market time is 194 days.   The market is still saturated with condo listings. 

For single family homes in the $300,000 to $600,000 price range, here is how things have gone for the past 3 mos according to data from the Multiple Listing Service of Northern Illinois:

Total listings: 415

Available: 328

Closed: 49

Under Contract: 38

There are still way too many homes available, even in Arlington Hts.  The competition for well qualified buyers is fierce.  I can’t stress it enough:  the correct price is everything - once you are priced correctly you will sell no matter what type of market we are in.