Palatine Home Prices Decrease Over Last Year

The 53 single, detached homes sold in Palatine during September 2013 represents a 12.8 percent increase over September 2012, when just 47 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

As the number of homes sold increased in Palatine, the median home price did not follow suit. The median price decreased by -.3 percent to $310,000 in September 2013 from $311,000 in September 2012, according to the statistics.

Overall, September 2013 sales in the Chicago suburbs were up 30.7 percent compared to the same time last year. The median sale price for detached homes increased 12.6 percent from the previous September, and the number of homes under contract rose by 30.4 percent. 

In a year-to-year comparison of sales of single-family detached homes, several suburban communities saw increased sales activity, including Burr Ridge (120 percent increase from September 2012), Darien (186 percent), Downers Grove (100 percent), Hillside (120 percent), Northlake (133 percent), Oak Lawn (109 percent), Rolling Meadows (130 percent), Warrenville (250 percent), Zion (128 percent), according to a Mainstreet Organization of Realtors press release.