You are currently browsing the category archive for the 'Palatine' category.
Single Family
Active listings: 364
Under contract: 48
Sold & Closed: 121
Avg days on market: 184
Condo/Coach home
Active listings: 444
Under contract: 61
Sold & Closed: 125
Avg days on market: 209
Townhome
Active listings: 273
Under contract: 25
Sold & Closed: 79
Avg days on market: 219
The first 1/2 of 2008 is already behind us! You can see the first 1/2 numbers for Palatine Real Estate and homes above show the dramatic over supply of listings compared to what has actually gone under contract and closed so far this year. This continues to be one of the best times ever to buy, and most of what we have seen sell has been the lowest priced for the condition property. The listings that are priced with the average just sit among all the choices while buyers wait for sellers to reduce to the market value. The theme for 2008 continues: If you don’t need to sell, don’t! If you are even remotely considering buying, get out there and do it!
This data comes courtesy of MRED MLS and covers 1/1/08 to 6/30/08.
- 2 bedroom condo in Palatine
Listed for just $80,000 - Now SOLD!!
You can purchase in popular Winston Park for a great price! Highly regarded Palatine schools, & parks around just about every corner! Gleaming hardwood floors greet you in this large raised ranch w/4 beds,1.1 bths,2 car gar. One of the nicest yards around!! Brand new berber carpeting and kitchen flooring. Most windows have been replaced. Furnace/ac/roof/water heater all replaced around 2000! Near 53 for easy commute!
Take a Tour! http://www.tourfactory.com/433534
Another buyer gets a great deal on a foreclosure. 1403 Wyndham in Palatine, listed for only: $72,900. These units typically sell around $100,000!
Here is the latest for Palatine homes for sale and Real Estate:
Single Family
Active listings: 343
Under contract: 59
Sold & Closed: 3
Avg days on market: 192
Condo/Coach home
Active listings: 432
Under contract: 32
Sold & Closed: 6
Avg days on market: 191
Townhome
Active listings: 276
Under contract: 30
Sold & Closed: 4
Avg days on market: 212
We are now in what is typically the busiest time of the year so you can see that total listings have jumped a bit from our past updates. Along with that, there are more properties going under contract. Closings are still few and far between, but those numbers will go up following the higher number of under contract listings. Most of what we are seeing sell lately are either foreclosed properties, or literally the cheapest priced home in a given subdivision (or even an entire town). Overall, activity has increased for Palatine homes and Real Estate.
This data comes courtesy of MRED MLS and covers the past 30 days of activity.
This is one of the largest, most updated townhomes around! And it is decorated perfectly! New stainless steel appliances - included, new granite counters in large eat-in kitchen, new wood laminate floors, New light fixtures, beautifully finished basement. Large room sizes plus an office! Furnace and A/C just 2 years old. And a wonderful location near 53 for an easy commute and all kinds of shopping for convenience.
Take a Virtual Tour! http://www.visualtour.com/shownp.asp?T=1518487
POPULAR FIRST FLOOR UNIT AT BACK OF COMPLEX! LAMINATE AND CERAMIC TILE FLRS! FULL SIZE WASHER/DRYER IN UNIT! WALK-IN CLOSET IN BDRM! STORAGE CLOSET IN HALL OUTSIDE UNIT DOOR! CLEAN & NEUTRAL W/CEILING FANS! BLINDS T/O! NEW SIDING! NO SPECIAL ASSESSMENT! INDOOR/OUTDOOR POOLS/GYM/HOT TUB/TENNIS & BASKETBALL COURTS FOR A REASONABLE ASSOC FEE. TAXES DO NOT REFLECT HO EXEMP - LOWER FOR YOU IF OWNER OCC!! Take a Virtual Tour! http://www.visualtour.com/shownp.asp?T=1514624
Another fantastic deal…this unit sold for almost double this price just a few years ago. Listed for: $60,750. Prices are great, don’t wait and miss your chance to buy in one of the best buyer’s markets ever. Find your next property here.
Popular Palatine 2 story townhome in Knollwood with 1 car garage in fantastic shape! Listed for: $215,000
4 bedrooms with Palatine schools - Fremd H.S.! Plus finished sub-basement gives you 4 levels of living space. Updates include: Roof 5 yrs, water heater 3 yrs, 2nd floor windows, Pella sgd, new doors, ext painted 3 yrs. Eat-in kitchen w/ newer appl & pantry, Hardwood floors under carpet. Vaulted ceiling. Brick/frame exterior. Nice fenced yard. 2 car attached garage. Birchwood Park across the street, great area!
Take A Virtual Tour! http://www.visualtour.com/shownp.asp?T=1487877
Another buyer makes out on this beautiful practically new condo in The Groves of Palatine! Listed for just $185,000.
Here’s what happened over the past 30 days for Palatine homes for sale and Real Estate:
Single Family Condo/Coach home
Active listings: 307 Active listings: 413
Under contract: 37 Under contract: 37
Sold & Closed: 0 Sold & Closed: 8
Avg days on market: 199 Avg days on market: 169
Townhome
Active listings: 245
Under contract: 18
Sold & Closed: 0
Avg days on market: 165
Things are still slow going if you are trying to sell. And you need to be very realistic when pricing your Palatine home. Then you can sell. We are seeing an increase in showing activity overall which should turn into more sales over the next few months. If you’re buying or thinking about it, don’t wait. These are the best prices in years and interest rates are fantastic.
Give us a call or shoot us and email when the time is right for you to buy or sell in or around Palatine.
Listed for $155,000. Fantastic price for this 2 story with full basement and attached garage! Needs some love and attention, but has updated cabinets in kitchen, 2 new sump pumps, and is priced $20,000-$30,000 below other comparable units for a quick sale!!!
Here is the latest for Palatine homes for sale and Real Estate:
Single Family Condo/Coach home
Active listings: 276 Active listings: 376
Under contract: 42 Under contract: 32
Sold & Closed: 1 Sold & Closed: 6
Average days on market: 208 Average days on market: 171
Townhome
Active listings: 208
Under contract: 26
Sold & Closed: 0
Average days on market: 171
February showed double the amount of under contract listings in every property type. That is a good sign for Spring. If this ridiculous weather would break, even more buyers would be out already. Average market times stayed consistent with previous months, but will hopefully improve with more buyers putting listings under contract. There were probably a few more closings last week (it was the last week of the month and most closings typically happen then), listing agents/offices may not have updated for closings yet.
It continues to be a great time to buy. If you have been waiting, now is your chance. Rates are low and prices are great. I am seeing more sellers come on the market with realistic prices for the market too.
Elegant quality property in Fremd High School. Approx 4700 square feet plus another 1800 finished square feet in basement. Listed for $1,100,000.
Take a tour.
‘08 has begun and here is what happened for the first month of the year for Palatine homes and Real Estate:
Single Family Condo
Active listings: 271 Active listings: 325
Under contract: 30 Under contract: 28
Sold & Closed: 0 Sold & Closed: 2
Average days on market: 213 Average days on market: 183
Townhome
Active listings: 197
Under contract: 20
Sold & Closed: 1
Average days on market: 182
In Real Estate we say, ‘Spring starts after the Super Bowl’. Right after the first of the year, activity in general picked up for showings, web site searches, and phone calls after being fairly dead for the month of December. Over the next couple of months we will see how much of this new activity turns into under contract and closed sales for Palatine Real Estate. And with great interest rates and listing prices fueling the market we should see more buying start to happen this year. The under contract days on market for condos is dramatically different than the 183 for active listings above. At only 71 days for under contract listings, that illustrates that you can still sell in a reasonable amount of time when you price your property properly for the market we are dealing with.
Last year there were home sales, despite what you might see on the news. In Palatine, 280 single family homes closed in 2007. The average market time for those homes was 136 days and the sales price averaged $462,135. To start ‘08 there are 282 listings on the market. 19 of those have contracts on them.
248 townhomes closed as well. They averaged $280,182 for sales price and 121 days on market. There are 196 townhome listings on the market with 13 under contract today.
What about condos? Closings totaled 347 last year. The market time averaged 113 days for those units while the sales price was $165,631 on average. 366 are on the market today with just 12 under contract.
JUST LISTED!!!
2 Bedrooms in Palatine for only $100,000!
To view more pictures and take a virtual tour: http://misterhomes.com/06741133.ad
Single Family Townhomes/Condos
Total Listings: 316 Total Listings: 688
Available: 293 Available: 470
Under Contract: 20 Under Contract: 28
Closed: 3 Closed: 2
Active single family homes are averaging 200 days on the market, but note that the 3 homes that closed last month averaged only 62 days on the market. This again points to proper pricing. If you price well, it does not have to take you long to sell. And there are also now 20 homes under contract which is a slight improvement.
There continues to be way too many condos on the market creating the oversupply of listings. There again is a a slight improvement in the number under contract though. And the number under contract also have average market times under 60 days. Actives averaging 155 days.
JUST LISTED!!
List Price: $172,500 - Remodeled 2 Bedroom Manor Home in Great Location!
To view more photos and see the virtual tour: http://misterhomes.com/06738200.ad
Here is how the market looks for single family homes in Palatine for the past 3 months:
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So out of 414 total homes, just 59 closed in the past three months. And if you are trying to sell right now, there are 327 homes on the market with just 28 that have gone under contract with buyers. This is why we are facing a buyer’s market. Is there any good news? Well, if you price your home correctly, you will be able to sell it. It will have to be lower than your competition that is in the same condition, or have some unique features to generate interest. And when you do sell, you can have fun becoming the buyer when you look for your next home. If you don’t need to sell right now, you may want to consider waiting for the market to improve a bit.
