Arlington Heights Market Update (6/18/2008)

In Arlington Heights Illinois there are currently 483 active listings for single family homes with prices ranging from $230,000 up to $1,895,000. There are 94 homes that are under contract and over the past 90 days 75 homes have closed.

Currently there is an increase in activity that appears to be a sign of the market leveling off. If the trend continues we expect home prices to level off and the market to become more "normal".

If you are thinking about buying a home in Arlington Heights take advantage of the current "Buyer's Market".

Arlington Heights Rentals

The Suburban House Hunters Team has added rental services to their residential real estate services menu. So if you are looking for a rental in Arlington Heights Illinois make sure to visit their site.

Rentals can include apartments, condos, townhouses, or single family homes. Many people don't realize that they can hire the services of a real estate professional that will have access to rentals. The real estate agent will be able to save the customer time and many time money as they are willing to negotiate for their client. The reason a real estate agent will be able to negotiate a better deal is they are an independent party. They will never live in the home or deal with the landlord again so they can be more aggressive then most renters will be.

Best of luck with your rental search.

Arlington Heights on Squidoo

Squidoo is a website that anyone can create a page on. This page (lens) can cover just about any topic and allows users to generate all of the content. We created a lens about Arlington Heights Illinois and figured it was worth sharing. Feel free to leave a comment and let us know if something should be added.

Condo Development Details and Map Search

SuburbanHouseHunters.com is in the middle of adding a map search to their main Arlington Heights Condo Guide. They are also adding detailed information on condo developments. These details include price ranges, type of condos available, parking arrangements, amenities, and more. Make sure to check out this new feature.

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

Anyone interested in other developments can go to the contact page on the Suburban House Hunters site as the information is already compiled, just not uploaded to the web.

Quick market overview

The graph to the left shows the number of homes on the market (red), the number that are under contract (blue) and the number that closed that month (green).

The trend that is shown in this graph shows that there is an increasing inventory in Arlington Heights. Seller have been feeling this for some time now as market times have increased. The average days on market has gone from 42 in Nov '05 to 64 in Nov '06. This is a 50% increase in the time it will take for your home to sell.

Now on the flip side things are actually not all that bad. These numbers don't look good comapred to the last couple of years, but in reality they are not all that bad. We are still seeing average home prices increase and homes that are priced correctly are still selling.

Visit Suburban House Hunters if you would like to know more about the Arlington Heights real estate market.

Condos - Wing Street Residences

151 W Wing Street otherwise know as Wing Street Residences is a 9 story building in downtown Arlington Heights. Condos in this build range from simple 1 bedroom 1 bath homes up to a penthouse unit that is 2 bedrooms, 2 1/2 baths, 2200 sq feet, and has 2 balconies.

The buildings assement fee includes your heat, water, gas, parking, security, doorman, exterior maintence, trash, and snow removal.

With only a short walk to the train, resturants, shopping, and more the location of this building is hard to beat. For more information about this building and what units are currently for sale visit SuburbanHouseHunters.com.

Market update

For information about the Arlington Heights real estate market take a look at this Arlington Heights Blog post. You will see what is on the market, what is sold in the last 90 days, and what is currently under contract. For more details about the Arlington Heights Real Estate market feel free to visit this Arlington Heights real estate website.