Real Estate in Barrington & The Northwest Suburbs: Palatine Real Estate Market - Single Family Homes - Year End Conclusion

Palatine real estate is local. The only thing relevant to Palatine real estate is Palatine. What happens in Schaumburg, Cook County, Illionois or the USA is irrelevant. Reading the major media headlines is dangerous when it comes to real estate. They focus so much on what's going on in the whole country. Palatine real estate could be better, could be worse, one thing is for sure, it will not be the same.

So here goes with my Palatine year end review. This report is all about single family homes. Referencing above, single family homes are different to condos so I must do another report for those with town-homes. After all you don't get any land with those so values are bound to be less.

First lets take a look at sales in 2011 compared to 2010.

• Single family homes sold in 2010 = 263
• Single family homes sold in 2011 = 306

That's an increase of  16%. The question is are we on an inclining trend?  The only way to establish that is to go back a few more years so here we go:

• 2009 = 303
• 2008 = 268
• 2007 = 298

Well 2011 was a good year but it's not necessarily an inclining trend, just a better year than 2010. Only future years well tell us if it's getting better. So what about:

• 2006 = 414
• 2005 = 503

It's fairly obvious when the bubble started deflating.

What about average prices in Palatine's single family home sales? Here's a chart that goes back to 2007, the first year after the big declines. You can see the average sales price and the average marketing time in Palatine over the last 5 years.

I would like to see both of the lines on this chart flattening out a little more, but I guess we'll just have to be patient. It appears to be happening, just slowly.

Look out for my next report on Palatine's  condo and town-homes sales.