Is Palatine Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Palatine Township has remained a Seller's Market.
Housing Prices in Palatine Township, IL
How much do homes in Palatine Township, IL cost?
Median Sold Price
$355,912
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Palatine Township was $355,912 in June 2024, up 10.3% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $128.9K | $155K | +20.2% |
2 Bedrooms | $228.4K | $260K | +13.8% |
3 Bedrooms | $335.6K | $375K | +11.7% |
4 Bedrooms | $479.5K | $521K | +8.7% |
5+ Bedrooms | $627.5K | $664.2K | +5.9% |
Summary: Palatine Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.2%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
Palatine | $293.9K | $327K | +11.3% |
Palatine Township | $322.5K | $355.9K | +10.3% |
Rolling Meadows | $277K | $300K | +8.3% |
Deer Park | $535K | $563K | +5.2% |
Inverness | $683.5K | $715K | +4.6% |
Housing Supply in Palatine Township, IL
How many homes are available in Palatine Township, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
416 | 448 | +7.7% |
Summary: The Palatine Township real estate market had 448 homes for sale in June 2024, a 7.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 28 | 28 | 0.0% |
2 Bedrooms | 123 | 137 | +11.4% |
3 Bedrooms | 128 | 134 | +4.7% |
4 Bedrooms | 94 | 115 | +22.3% |
5+ Bedrooms | 43 | 34 | -20.9% |
Summary: The Palatine Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 22.3%, and 5+ bedroom homes decreased by 20.9%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
147 | 143 | -2.7% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
87 Homes Were Sold
Over Asking
Summary: A total of 143 homes were sold or pending in Palatine Township in June 2024, down by 2.7% month-over-month. Of the 143 sold homes, 28% were sold under asking, 11% were sold at asking, and 61% were sold over asking.
Days on Market for Palatine Township, IL
How long does it take to sell a home in Palatine Township, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
11 Days | 12 Days | +7.9% |
Summary: Homes in Palatine Township had an average of 12 days on market in Jun 2024, up by 7.9% compared to last year.
Breakdown of Home Sale Times
132 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 143 homes were sold in Palatine Township; 92% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.