Real Estate Market Update for 60074 (Palatine, IL)

Video: Real Estate Community Tour for 60074 (Palatine, IL)

See Real estate community tour for 60074 (Palatine, IL)
Welcome to November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was down 19% from one year earlier, and up 6% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just over 260-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 21%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 170-thousand dollars. The number of units sold decreased 25% year-over-year, and decreased 10% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 60074 (Palatine, IL)
Area Information for 60074 (Palatine, IL)
  • Population: 38,867
  • Median Age: 36.2 yr
  • Median Commute Time: 26 mins
  • Educational Climate*: 3
  • Sales Tax: 9%
  • Population Density: 5,445/sq mi
  • Population Change Since 2000: -.08%
  • Closest Airport: Chicago O'hare International
  • Closest College: Keller Graduate School Of Management
  • Closest Jr. College: Wm Rainey Harper College
  • Median Household Income: $64,299
  • Annual Residential Turnover: 14%
  • Median Home Sales Price: $150,000
  • Closest Major Sports Team: Chicago Sky
  • Change Avg. Household Income Since 2000: 11.82%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 60074 (Palatine, IL)
Median Age: 36.2 Married: 40% Number of Households: 14,368 Households with Children: 5,040
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 60074 (Palatine, IL)

      School Name Distance Type Grades School Rating Parent Rating
      Palatine High School 1.3 mi Public 9-12 3 4
      Virginia Lake Elementary School 1.6 mi Public PRESCHOOL-6 3 0
      Jane Addams Elementary School 1.9 mi Public PRESCHOOL-6 2 0
      St Thomas Of Villanova School 2.3 mi Catholic PRESCHOOL-8 0 0
      Lake Louise Elementary School 2.4 mi Public K-6 3 0
      Winston Campus Jr High School 2.7 mi Public 7-8 3 0
      Winston Campus Elementary School 2.7 mi Public K-6 4 0
      Kindercare Learning Center - Palatine 2.7 mi Private PRESCHOOL-K 0 0
      New Connections Academy 3.1 mi Private 3-12 0 0
      South Campus 3.1 mi Private 1-12 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by School Review data by
      Local Weather for 60074 (Palatine, IL)
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.