Real Estate Market Update for Palatine, IL

Video: Real Estate Community Tour for Palatine, IL

See Real estate community tour for Palatine, IL
Welcome to June's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was down 17% from one year earlier, and down 5% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 340-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 1%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 230-thousand dollars. The number of units sold increased 40% year-over-year, and increased 22% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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 Palatine, IL
Area Information for Palatine, IL
  • Population: 68,902
  • Median Age: 38.1 yr
  • Median Commute Time: 26 mins
  • Educational Climate*: 4
  • Sales Tax: 9%
  • Population Density: 5,061/sq mi
  • Population Change Since 2000: 4.27%
  • Closest Airport: Chicago O'hare International
  • Closest College: Keller Graduate School Of Management
  • Closest Jr. College: Wm Rainey Harper College
  • Median Household Income: $73,960
  • Annual Residential Turnover: 12%
  • Median Home Sales Price: $204,500
  • Closest Major Sports Team: Kane County Cougars (a)
  • Change Avg. Household Income Since 2000: 17.24%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Palatine, IL
Median Age: 38.1 Married: 43% Number of Households: 26,955 Households with Children: 8,839
Community:
    • 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 Palatine, IL

      School Name Distance Type Grades School Rating Parent Rating
      Lake Louise Elementary School 0.2 mi Public K-6 3 0
      Jane Addams Elementary School 0.4 mi Public PRESCHOOL-6 2 0
      St Thomas Of Villanova School 0.4 mi Catholic PRESCHOOL-8 0 0
      Virginia Lake Elementary School 0.7 mi Public PRESCHOOL-6 3 0
      Palatine High School 0.9 mi Public 9-12 3 4
      Winston Campus Elementary School 1.0 mi Public K-6 4 0
      Kindercare Learning Ctr 1.0 mi Private PRESCHOOL-K 0 0
      Winston Campus Jr High School 1.0 mi Public 7-8 3 0
      New Connections Academy 1.4 mi Private 3-12 0 0
      South Campus 1.4 mi Private 1-12 0 0
      Lincoln Elementary School 1.5 mi Public K-6 4 0
      St Theresa School 1.6 mi Catholic PRESCHOOL-8 0 0
      Quest Academy 1.6 mi Private PRESCHOOL-8 0 0
      Gray M Sanborn Elementary School 1.6 mi Public K-6 3 0
      Immanuel Lutheran School 1.8 mi Private PRESCHOOL-8 0 0
      Walter R Sundling Jr High School 2.1 mi Public 7-8 4 0
      Stuart R Paddock School 2.2 mi Public K-6 4 0
      Kirk School 2.3 mi Public UNGRADE-UNGRADE 0 0
      District 211 Academy - North 2.3 mi Public 9-12 0 0
      Pleasant Hill Elementary School 2.9 mi Public K-6 5 0
      Marion Jordan Elementary School 3.3 mi Public K-6 5 0
      Wm Fremd High School 3.4 mi Public 9-12 4 4
      Hunting Ridge Elementary School 3.6 mi Public K-6 5 0
      Little City Foundation 4.7 mi Private - 0 0
      Holy Family Catholic Academy 5.0 mi Catholic PRESCHOOL-8 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 SchoolDigger.com. School Review data by Niche.com.
      Local Weather for 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.