Million Dollar Plus Homes in Arlington Heights IL

By
Real Estate Agent with Suburban House Hunters

Million dollar homes in Arlington Heights is becoming common place. With 25 current listing over 1 million dollars and as high as $2.5 million you have a large selection of new construction high end homes. These homes are up to 6,000 sq feet and have up to 4 car garages. But with only 5 homes selling in this price range in the last 6 months the question becomes why are so many being built?

The highest price closed sale in Arlington Heights in the last 6 months is only $1,225,000. This is less than half the price of the current highest priced listing and the marketing time on this home was 273 days.

Builders have taken the "build it and they will come" approach, to bad for them the buyers don't agree. Many of these high end listings have been reducing prices to try and get buyers in the door, but this price range is truly hurting currently. With well over 2 years of inventory builders better be ready to hold these homes in inventory for an extended period of time.

Visit us for more Arlington Heights Real Estate information. 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Illinois Cook County Arlington Heights
Tags:
arlington heights
market conditions

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the woman to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
447,529
Jacqulyn Richey
Prominent Realty Group - Las Vegas, NV
Las Vegas Real Estate

They tried the same thing here. People did come alright, but not until after they got a bunch of free upgrades and the prices was dropped by 40k.

October 03, 2006 02:15 AM #1
Rainer
278,525
Ken Smith
Suburban House Hunters - Arlington Heights, IL
I don't think that $40k will be enough for some of these listings. Some have already dropped more than that and still area sitting months later. It would be a great time to be in the market for one of these homes as you could get a great deal. At least you could if your agent knew what he/she was doing.
October 03, 2006 10:28 AM #2
Rainer
278,525
Ken Smith
Suburban House Hunters - Arlington Heights, IL
Want to include a link to Arlington Heights Market Stats. 07/05/06 and 09/25/06.
October 12, 2006 01:37 PM #3
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the camera to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
278,525

Ken Smith

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the man to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information