Is Palatine Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palatine Township is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Palatine Township has remained a Seller's Market.

Key Takeaway

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

How much do homes in Palatine Township, IL cost?

Median Sold Price

$308,684

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$11,037(+3.7%)

Key Takeaway

Homes in Palatine Township have sold for 3.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $112.5K$120.2K
+6.9%
2 $193.3K$214.5K
+10.9%
3 $305K$329K
+7.9%
4 $431K$480K
+11.4%
5+ $525K$607.2K
+15.7%

Median Sold Price Compared To Nearby Cities

Inverness
+12.7%
Deer Park
+8.2%
Palatine Township
+3.7%
Rolling Meadows
+3.5%
Palatine
-0.4%

How many homes are available in Palatine Township, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
411393-4.4%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 3024
-20.0%
2 120122
+1.7%
3 134125
-6.7%
4 9799
+2.1%
5+ 3023
-23.3%

Number of Homes Sold

Sep 2022Oct 2022%
141136-3.5%

Asking Price vs. Sold Price

65 Homes Were Sold
Under Asking

20 Homes Were Sold
At Asking

51 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palatine Township, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
25 Days18 Days-25.2%

Breakdown of Home Sale Times

110 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Palatine Township, IL

There are 393 homes are for sale in Palatine Township, IL real estate market. Between September 2022 and October 2022, Palatine Township, IL real estate market has seen decrease in the number of listings by 4.4%. In October 2022 median list price was $308,684 and the average listing age was 18 days. From September 2022 through October 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 6.9% more expensive, 2 bedrooms properties became 10.9% more expensive, prices of 3 bedrooms properties went up by 7.9%, prices of 4 bedrooms properties increased by 11.4%, prices of 5 bedrooms properties increased by 15.7%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went down by 20%, 2 bedrooms homes became 1.7% more available, volume of 3 bedrooms homes went down by 6.7%, number of 4 bedrooms homes increased by 2.1%, volume of 5 bedrooms homes went down by 23.3%. In October 2022 more than 51 listings in Palatine Township, IL were sold above the asking price. During the same period more than 20 listings were sold at asking price, while more than 65 were sold below.

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