Is Arlington Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Arlington Heights is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Arlington Heights has remained a Seller's Market.

Key Takeaway

Arlington Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Arlington Heights, IL

How much do homes in Arlington Heights, IL cost?

Median Sold Price

$410,500

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$27,187(+7.1%)

Key Takeaway

Homes in Arlington Heights have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Arlington Heights was $410,500 in March 2024, up 7.1% from last year, and the median price per square foot was $232.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $135K$155K
+14.8%
2 $218.4K$252.2K
+15.5%
3 $389.9K$416K
+6.7%
4 $515K$575.6K
+11.8%
5+ $574.9K$669K
+16.4%

Summary: Arlington Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 16.4%.

Median Sold Price Compared To Nearby Cities

Rolling Meadows
+8.7%
Mount Prospect
+7.9%
Arlington Heights
+7.1%
Prospect Heights
+6.5%
Wheeling Township
+3.5%

Housing Supply in Arlington Heights, IL

How many homes are available in Arlington Heights, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
192229+19.3%

Summary: The Arlington Heights real estate market had 229 homes for sale in March 2024, a 19.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1821
+16.7%
2 4866
+37.5%
3 5859
+1.7%
4 4865
+35.4%
5+ 2018
-10.0%

Summary: The Arlington Heights housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 35.4%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4572+60.0%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

35 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Arlington Heights, you could pay more than the asking price. 48.6% of homes here sold above asking price last month.

Summary: A total of 72 homes were sold or pending in Arlington Heights in March 2024, up by 60.0% month-over-month. Of the 72 sold homes, 39% were sold under asking, 13% were sold at asking, and 49% were sold over asking.

Days on Market for Arlington Heights, IL

How long does it take to sell a home in Arlington Heights, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
32 Days21 Days-34.5%

Summary: Homes in Arlington Heights had an average of 21 days on market in Mar 2024, down by 34.5% compared to last year.

Breakdown of Home Sale Times

57 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Arlington Heights are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 72 homes were sold in Arlington Heights; 79% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 11 Days Ago

Newest Listings in Arlington Heights, IL

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