Real Estate in Barrington & The Northwest Suburbs: Palatine Town Homes - Average Sales Prices and Marketing Times

I wanted to look at the sales of Palatine Town Homes to see if sales activity is better this year than in 2010. Condos and town homes always suffer more in a buyers market, well at least they seem to, but let's look at some numbers, it should help verify my thoughts and maybe help Palatine town homeowners decide whether they want to sell or not. Lets take a look at the things sellers are most interested in:

1. How long will it take to sell my Palatine Town Home?
2. Are prices going down or up?

This first graph shows that since 2007 the average marketing time to sell Palatine town homes has increased year on year. Although 2011 is not yet finished I went back 12 months from today to make it a 12 month cycle. I doubt it will change much in the last 3 weeks of the year. Naturally this is only an average and there are so many things a seller can do to get under that number. But in general it appears we have increased from 4 to 6 months.

Did you know that according to stats released today, 3 of 4 home owners still think their home is worth more than it is.

Now lets look at average sales amounts.

This graph is showing the average sales price of Palatine town homes from 2007 through to 2011. The graph tells it all right? Prices going downhill. We've heard on the media that there have been some nominal increases in price over the last couple of months. I think the jury should stay out for a while in relation to townhomes in Palatine. I certainly would want a period of six months to really see if they are climbing.

As for whether you should sell, well the numbers might help, it depends on why you need to sell. Call us if we can help.