Arlington Heights Market Update (9-11-08)

Arlington Heights is still in a “Buyers Market” and there are some amazing deals to be had. While we have seen a big increase in the number of closed properties over the past 60 days buyers still have the advantage when negotiating.

There is a 10% reduction in the number of single family home on the market compared to our May market update.With the recent drop in interest rates we are also seeing an increase in buyers contacting us looking to purchase a home. These are both good signs and should help stabilize the market.

Single Family Homes in Arlington Heights

Active on Market: 437 (down from 480 in May)
Under Contract: 45 (down from 81 in May)
Closed in past 60 days: 106 (up from 29 in May)

Lowest Price Listing: $189,900
Details of Listing: 2 Bedroom 1 Bath home on Arlington Heights Road. This listing is sold “As-Is” and is bank owned. All offers need to allow 90 days for processing.

Highest Price Listing: $1,895,000
Details of Listing: An amazing home built in 2001 with over 6,000 squire feet of living space. With a large lot located on the gold course this homes location is perfect.

Attached Housing (including Condos and Townhomes)

Active on Market: 500 (up from 483 in May)
Under Contract: 40 (down from 47 in May)
Closed in past 60 days: 69 (up from 19 in May)

Lowest Price Listing: $69,900
Details of Listing: Bank owned 2 bedroom 1 bath condo. This home is priced below market.

Highest Price Listing: $1,175,000
Details of Listing: Penthouse in the soon to be built Parkview Condominiums of Arlington Heights building. This top floor unit includes over 2600 square feet of living space and around 1800 square feet of terrace space.

More information

For more details about any information in this market update contact us or view all of the homes currently on the market with our free Arlington Heights home search.