Is Palatine Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$340,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palatine Township was $340,000 in April 2024, up 6.7% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $126.5K | $155K | +22.5% |
2 Bedrooms | $225K | $250K | +11.1% |
3 Bedrooms | $335K | $365K | +9.0% |
4 Bedrooms | $490K | $495K | +1.0% |
5+ Bedrooms | $648.7K | $597.5K | -7.9% |
Summary: Palatine Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.5%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 7.9%.
Median Sold Price Compared To Nearby Cities
Palatine | $284.9K | $322K | +13.0% |
Rolling Meadows | $270K | $298.5K | +10.6% |
Palatine Township | $318.5K | $340K | +6.7% |
Inverness | $699K | $694K | -0.7% |
Deer Park | $550K | $540K | -1.8% |
Housing Supply in Palatine Township, IL
How many homes are available in Palatine Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
318 | 363 | +14.2% |
Summary: The Palatine Township real estate market had 363 homes for sale in April 2024, a 14.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 24 | 29 | +20.8% |
2 Bedrooms | 94 | 111 | +18.1% |
3 Bedrooms | 92 | 100 | +8.7% |
4 Bedrooms | 84 | 90 | +7.1% |
5+ Bedrooms | 24 | 33 | +37.5% |
Summary: The Palatine Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20.8%, 2 bedroom homes increased by 18.1%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
110 | 116 | +5.5% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
68 Homes Were Sold
Over Asking
Summary: A total of 116 homes were sold or pending in Palatine Township in April 2024, up by 5.5% month-over-month. Of the 116 sold homes, 28% were sold under asking, 14% were sold at asking, and 59% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
17 Days | 17 Days | -1.3% |
Summary: Homes in Palatine Township had an average of 17 days on market in Apr 2024, down by 1.3% compared to last year.
Breakdown of Home Sale Times
102 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 116 homes were sold in Palatine Township; 88% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.