Friday, February 23, 2018

Field Trip! Palatine single family home sales, median price holds through the years

I use to play in this creek while visiting  relatives as a kid. The Willow Wood subdivision feature a couple renovated play lots, green space and meandering creek. All photos Eric Rojas, Broker, Kale Realty
I was in the great Village of Palatine yesterday to evaluate a client's home for sale. The house is in the Willow Wood subdivision which feeds Virginia Lake Elementary School, Sundling Junior High and Palatine High School.

Willow Wood sub division is easy walking distance to a Mariano's Market, the excellent main library branch and many stores and restaurants along Hicks / Northwest Highway.

A common model shown above and attractive example of homes found in the Willow Wood subdivision of Palatine. Palatine offers a wide range of homes from the $200s in a central location near highway access, shopping and job centers.
22 homes sold in the Willow Wood subdivision over 2017.  The median price was about $330,000. The highest sale was a five bedroom home at 651 N Salem Ct , Palatine, IL 60074 for $432,500. Two homes sold over $400K in the subdivision last year.

608 single family homes sold in all of Palatine over 2017 with a median price of $320,000. The highest priced sold home was a new construction house at 885 W Kathleen Rd , Palatine, IL 60067 for $836,000.  The four bedrooms home in Fremd High School district sold over the list price with upgraded options.

In 2016, 587 single family homes closed with a median price of $325,000.  In 2015, 515 homes sold with a median price around $320,000.  Interestingly... back in 2012, 613 homes sold with a median price of $320,000 (numbers almost identical to 2017 fivers later). It is rare in most Chicago neighborhoods and suburbs to see such consistent home sale unit numbers and median price over the period 2012-2017.

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