Is Arlington Heights, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Arlington Heights is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Arlington Heights has remained a Seller's Market.

Key Takeaway

Arlington Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$40,154(+10.6%)

Key Takeaway

Homes in Arlington Heights have sold for 10.6% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $139K$161.1K
+15.9%
2 $220K$268.6K
+22.1%
3 $387.5K$424.1K
+9.5%
4 $525K$599.9K
+14.3%
5+ $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
+10.6%
Rolling Meadows
+9.9%
Mount Prospect
+6.3%
Wheeling Township
+4.4%
Prospect Heights
-5.5%

Housing Supply in Arlington Heights, IL

How many homes are available in Arlington Heights, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
259287+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

# BEDSApr 2024May 2024CHANGE
1 2024
+20.0%
2 6366
+4.8%
3 8194
+16.0%
4 7483
+12.2%
5+ 2120
-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 2024May 2024CHANGE
94107+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Arlington Heights, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.

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 2023May 2024CHANGE
11 Days22 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Arlington Heights are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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