Arlington Heights, IL

In the table below lists all of the single family detached and single family attached homes currently on the market in Arlington Heights, IL The data lists available homes by price range with average time on market in each range.

Included in this list are many Foreclosures and Short Sales.

Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.

Active Listings

List Price Range # Listings Avg. Days on Mkt Less than $49,999 15 183 $50,000 - $99,999 77 254 $100,000 - $149,999 52 281 $150,000 - $199,999 54 314 $200,000 - $249,999 62 241 $250,000 - $299,999 56 222 $300,000 - $349,999 42 209 $350,000 - $399,999 34 230 $400,000 - $449,999 13 137 $450,000 - $499,999 22 225 $500,000 - $549,999 4 228 $550,000 - $599,999 3 169 $600,000 - $699,999 7 438 $700,000 - $799,999 18 772 $800,000 - $899,999 6 415 $1,000,000 - $1,999,999 4 604 $4,000,000 - $4,999,999 1 907

Active Listings Summary

# Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume 470 274 $239,000 $280,456 $4,000,000 $27,900 $131,814,091

Hot on the heels of my Palatine Town Homes Market report, I am back again with one for Arlington Heights. I think it's a fair assumption to assume that marketing times and average sales prices are going to be very similar to Palatine. Lets take a quick peak at that for the current year before I move on.

• Palatine: Average Market Time 2011 was 178 Days
• Arlington Heights: Average Market Time 2011 is 150 days.

That's about 1 month less, a bigger difference than I expected.

What about average sales price?

• Palatine: over the last 12 months was $176,546
• Arlington Heights: over the last 12 months was $232,942 Now that's a considerable difference.

Arlington Heights town homes are on average sold at a 32% higher price than Palatine.

I took a look at single family homes, the average price there is also higher in Arlington Heights but not by as much. $297k v $275k, only an 8% increase.

So let's get to sales prices and price cuts because that's where I really wanted to go with this. A recent publication states that 3 of 4 homeowners still believe their home to be worth more than it is. On the other hand buyers or at least 53% of them still consider homes are priced too high. How does this translate into sales of town homes in 60004 and 60005?

Regardless of what percentage homes sell for in relation to the asking price, it's really important to see how they got to the sale. Did they sell at the original asking price or not? The answer is not, however I have to say the differences here are nominal. On average a price was reduced by less than 3%. The sale achieved was 97% of the final asking price or 93% of the original asking price.

Pricing is critical in a buyers market, and it appears Arlington Heights town home owners are reviewing the data they are given to establsih a list price, and being rewarded with less time on the market that their counterparts in Palatine.

Go Arlington Heights Sellers & Realtors...Job Well Done!

It really isn't all doom and gloom out there in the world of real estate. I have had several buyers in the last two years that either had cash in the bank ready to buy, or did not have to sell the current home so they could buy the new one. The advantage for the buyer is positioning themseleves to find that perfect home, as long as they have the patience.

Last summer I was approached by some buyers. They wanted help with a house they were interested in that checked almost all their boxes. They did not want to have the listing agent help them, they considered it to be a conflict of interest and were really looking for some help from a buyers agent. About 80% of my personal real estate business is helping buyers. I love working with buyers so was thrilled to be able to work for them.

Our first attempt at buying their new home was the one they had already found. So had 2 other buyers, so we ended up in a 3 buyer race. Unfortunately we did not win the race. So for the rest of 2010 we kept looking, through sun and rain, wind and snow, but nothing was as good. Early 2011 we picked up the pace a little. Back out in the snow to much disappointment. In the spring I though we had it, he wanted to make an offer, she was not impressed. We moved on.

Finally in Septemeber we hit the jackpot. Remember that wish list, everything was checked off. Given that one of the items on the list was a garage big enough to store a pretty sizeable boat, it was the one thing we had never checked off, until now. The house was over-priced. We knew it's market value and tried to buy it at market value but the sellers would not budge. So we waited, one price cut, still not enough, second price cut and now it's within reach. It was still a tough time negotiating and took longer than usual but we did it.

We had looked far and wide for their home. My buyers started out looking for a house in the Barrington area, but that perfect house ended up being in Arlington Heights. Yesterday they closed their purchase. Congratulations, it may have taken 17 months, one failed purchase, and two attempts before  you made it but I do believe you got the perfect house for you. It was worth the wait, the heartbreak, the need for patience and for sticking to your guns.

I know that your family, including the boat :) will be very happy. Congratulations!

Arlington Heights Homes Sold in October 2011

Last month, 28 Arlington Heights homeowners sold their homes.

1 homes sold were Foreclosures.

2 homes sold were Short Sales.

Currently, 363 homes are for sale.

9 homes have a pending contract.

Based on last month’s sales, it will take 13 months to sell current inventory.

Following are just some of the fabulous homes that sold in Arlington Heights last month.

Data provided by the Midwest Real Estate LLC (MRED) multiple listing service and includes properties listed and sold by various participants in the MLS. Data supplied does not reflect all market activity in the area.

Extraordinary value

Houses that sell faster offer extraordinary value.

Houses that offer extraordinary value are priced correctly at the get-go and show like a model home.

If you want to sell your home quickly, you must offer extraordinary value.

It’s Judy … your North Shore Chicago real estate agent.

Homes for Sale in Arlington Heights (November 2011)

If you’re a homebuyer looking for a great deal, look for properties where the homeowners are motivated.

One indicator of motivation is market time: how long the property has been for sale.

Another sign of motivation is by comparing current list price to original list price. The greater the price deduction, the more the homeowner has settled into the realities of the marketplace.

Usually the two go hand-in-hand … but not always … since homeowners who understand the value of their house are willing to wait for the right offer.

Currently, there are 363 single family homes for sale in Arlington Heights. Below is just a sampling.

Data provided by the Midwest Real Estate LLC (MRED) multiple listing service and includes properties listed and sold by various participants in the MLS. Data supplied does not reflect all market activity in the area.

Arlington Heights is a bustling bedroom community located in Chicago’s popular northwest corridor. The town has so much to offer, such as excellent schools, a thriving downtown convenient to the Metra Rail Commuter Station, one of the best libraries in the area, a popular Aquatic Center, two golf courses, six swimming pools, as well as Forest View Racquet and Fitness Club, the five-acre nature retreat of Kingsbridge Arboretum, and Lake Arlington.

Arlington Heights offers stately single family homes in a selection of colonials, Georgians, contemporary homes, and ranches.

It’s Judy … your North Shore Chicago real estate agent.