Is Palatine Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$340,100
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palatine Township was $340,100 in March 2024, up 7.2% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $124.9K | $150K | +20.1% |
2 Bedrooms | $221.8K | $243.5K | +9.8% |
3 Bedrooms | $333K | $363.2K | +9.1% |
4 Bedrooms | $495K | $495K | 0.0% |
5+ Bedrooms | $649.9K | $589.5K | -9.3% |
Summary: Palatine Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.1%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 9.3%.
Median Sold Price Compared To Nearby Cities
Palatine | $279.9K | $323.4K | +15.5% |
Rolling Meadows | $268K | $291.1K | +8.7% |
Palatine Township | $317.2K | $340.1K | +7.2% |
Inverness | $685K | $678.5K | -0.9% |
Deer Park | $553K | $545K | -1.4% |
Housing Supply in Palatine Township, IL
How many homes are available in Palatine Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
241 | 323 | +34.0% |
Summary: The Palatine Township real estate market had 323 homes for sale in March 2024, a 34.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 16 | 26 | +62.5% |
2 Bedrooms | 71 | 91 | +28.2% |
3 Bedrooms | 74 | 95 | +28.4% |
4 Bedrooms | 62 | 85 | +37.1% |
5+ Bedrooms | 18 | 26 | +44.4% |
Summary: The Palatine Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 62.5%, 2 bedroom homes increased by 28.2%, 3 bedroom homes increased by 28.4%, 4 bedroom homes increased by 37.1%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
59 | 104 | +76.3% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
57 Homes Were Sold
Over Asking
Summary: A total of 104 homes were sold or pending in Palatine Township in March 2024, up by 76.3% month-over-month. Of the 104 sold homes, 33% were sold under asking, 13% were sold at asking, and 55% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
23 Days | 23 Days | -2.1% |
Summary: Homes in Palatine Township had an average of 23 days on market in Mar 2024, down by 2.1% compared to last year.
Breakdown of Home Sale Times
86 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During March 2024, 104 homes were sold in Palatine Township; 83% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.