Real Estate Market Update for Prospect Heights, IL

Video: Real Estate Community Tour for Prospect Heights, IL

See Real estate community tour for Prospect Heights, IL
Welcome to August's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was down 12% from one year earlier, and down 11% 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 41%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 250-thousand dollars. The number of units sold increased more than 100% year-over-year, and decreased 22% month-over-month. Higher year-over-year figures indicate that more buyers have been finding what they're looking for. 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 Prospect Heights, IL
Area Information for Prospect Heights, IL
  • Population: 15,785
  • Median Age: 39 yr
  • Median Commute Time: 26 mins
  • Educational Climate*: 4
  • Sales Tax: 9%
  • Population Density: 3,724/sq mi
  • Population Change Since 2000: -5.01%
  • Closest Airport: Chicago O'hare International
  • Closest College: I T T Technical Institute-mount Prospect
  • Closest Jr. College: Worsham College-mortuary Science
  • Median Household Income: $59,497
  • Annual Residential Turnover: 11%
  • Median Home Sales Price: $195,000
  • Closest Major Sports Team: Chicago Sky
  • Change Avg. Household Income Since 2000: 8.58%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Prospect Heights, IL
Median Age: 39 Married: 46% Number of Households: 6,016 Households with Children: 1,722
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 Prospect Heights, IL

      School Name Distance Type Grades School Rating Parent Rating
      St Alphonsus Liguori School 0.1 mi Catholic PRESCHOOL-8 0 0
      Anne Sullivan Elementary School 1.0 mi Public 4-5 4 0
      Deaf/hard Of Hearing (dist 23) 1.0 mi Public PRESCHOOL-8 0 0
      Macarthur Middle School 1.0 mi Public 6-8 4 4
      Dwight D Eisenhower Elementary School 1.0 mi Public PRESCHOOL-1 0 0
      Betsy Ross Elementary School 1.0 mi Public 2-3 0 0
      Jfh Academy Inc 1.1 mi Private PRESCHOOL-6 0 0
      Care For Kids 2.0 mi Private PRESCHOOL-K 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 Prospect Heights, 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.