Last week my partner, Mary Kaye, and I did a market analysis for a couple of friends of ours in Arlington Heights. They aren’t ready to sell yet, but wanted to get an idea of what their home might sell for, if they decide to relocate to Arizona.
Our friends’ home is a large ranch in the 60005 zip code, otherwise known as the part of Arlington Heights south of Northwest Highway. Both house and condo values in 60005 haven’t fared as well in the past year as they have for 60004 in the northern part of Arlington Heights.
Median house values for the past 12 months compared to the previous 12 months are down 9.8% compared to a drop of only 5.0% for 60004.*
Median condo values are down 10.2% for 60005 compared to a drop of 7.5% for 60004.
*Based on Midwest Real Estate Data LLC (MRED) Data.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
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I am looking at homes in Arlington Heights and considering both 60004 and 60005. Is there any way to do a projection of home value appreciation for both zip’s based on current market conditions? Can you point me to any more research done on this? Thank you.