Is Arlington Heights, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Arlington Heights has remained a Seller's Market.
Housing Prices in Arlington Heights, IL
How much do homes in Arlington Heights, IL cost?
Median Sold Price
$420,321
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Arlington Heights was $420,321 in May 2024, up 10.6% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $139K | $161.1K | +15.9% |
2 Bedrooms | $220K | $268.6K | +22.1% |
3 Bedrooms | $387.5K | $424.1K | +9.5% |
4 Bedrooms | $525K | $599.9K | +14.3% |
5+ Bedrooms | $567K | $727K | +28.2% |
Summary: Arlington Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.9%, 2 bedroom homes increased by 22.1%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 28.2%.
Median Sold Price Compared To Nearby Cities
Arlington Heights | $380.1K | $420.3K | +10.6% |
Rolling Meadows | $272.8K | $300K | +9.9% |
Mount Prospect | $359.2K | $382K | +6.3% |
Wheeling Township | $335.3K | $349.9K | +4.4% |
Prospect Heights | $295K | $278.8K | -5.5% |
Housing Supply in Arlington Heights, IL
How many homes are available in Arlington Heights, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
259 | 287 | +10.8% |
Summary: The Arlington Heights real estate market had 287 homes for sale in May 2024, a 10.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 20 | 24 | +20.0% |
2 Bedrooms | 63 | 66 | +4.8% |
3 Bedrooms | 81 | 94 | +16.0% |
4 Bedrooms | 74 | 83 | +12.2% |
5+ Bedrooms | 21 | 20 | -4.8% |
Summary: The Arlington Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes decreased by 4.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
94 | 107 | +13.8% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
57 Homes Were Sold
Over Asking
Summary: A total of 107 homes were sold or pending in Arlington Heights in May 2024, up by 13.8% month-over-month. Of the 107 sold homes, 29% were sold under asking, 18% were sold at asking, and 53% were sold over asking.
Days on Market for Arlington Heights, IL
How long does it take to sell a home in Arlington Heights, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 22 Days | +86.3% |
Summary: Homes in Arlington Heights had an average of 22 days on market in May 2024, up by 86.3% compared to last year.
Breakdown of Home Sale Times
88 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 107 homes were sold in Arlington Heights; 82% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.