Arlington Heights Market Update

By
Real Estate Agent with Suburban House Hunters

I posted about Arlington Heights IL in the last post so I figured you should see some hard numbers. I am going to use only single family homes for this update.

Homes listed - 496

Under Contract - 89

Closed in the last 90 days - 85

If it takes 90 days for 85 homes to sell then we have 524 days of inventory on the market today. That means if nothing new is added and home sales stayed the same as the last 90 days that it would take well over a year to sell every home that is currently listed. The one bright spot is that there are 89 homes under contract and that might help increase the sales pace a little.

This helps show that YES the market is MUCH slower and you need to work with an agent or team of agents that can offer a great marketing plan that includes a web site that ranks high in Google. The Suburban House Hunters Team offers just that for anyone thinking of selling a home in Arlington Heights.

Details about some Condo Developments: 

Campbell Courte Condos - 200 W Campbell
Parkview Condominiums of Arlington Heights - 212 N Dunton
Village Green Condos - 44 N Vail
Wing Street Residence - 151 W Wing Street

 

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Location:
Illinois Cook County Arlington Heights
Tags:
arlington heights
market conditions

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Rainer
442,193
Jacqulyn Richey
Las Vegas Real Estate
Prominent Realty Group
Boy that sounds familiar.  Your market is just like Las Vegas is right now. There are more homes on the market than ever before, and they are selling slower.  That's great news if you are buying!
July 06, 2006 04:11 PM
Rainer
271,727
Ken Smith
Suburban House Hunters
Actually I think it makes the market better all around. Sellers had been getting a little greedy and kept assuming that their homes would keep going up in value every year by $30k+. There had to be a slow down to make people realize that what had been happing wouldn't stay.
July 20, 2006 11:04 AM
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Rainer
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Ken Smith

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Additional Information

Information about the Chicago and suburban real estate market.