Market Update, News, Real Estate, Real Estate Report, Things to Do

Real Estate | Barrington Home Prices Up from January, 2017 Despite Decreases Forecast for Illinois

Real Estate | Barrington Home Prices Up from January, 2017 Despite Decreases Forecast for Illinois

Home Newsroom Real Estate | Barrington Home Prices Up from January, 2017 Despite Decreases Forecast for Illinois

According to the latest numbers looking at 12 months of activity, home prices in the Barrington area were up 4% in January of 2018 compared to the 12 months measured in January of 2017, with the median detached single family home price at $520,000 in zip code 60010.

That’s despite the National Association of REALTORS’ “Home Price Outlook” which projects the State of Illinois will see home prices drop by 2.1% in 2018 while prices will increase by an average of 1.9% nationwide.

NAR’s nationwide projection of 1% – 3% growth in 2018 home prices is a marked slowdown from the 5% – 7% percent annual gains of the past five years. They’re basing their estimates on four factors including current housing market conditions, interest rate effects, employment and construction momentum plus impact from the new tax law, now in effect.

“The new tax law reduces the limit on deductible mortgage debt and limits the deductibility of the real estate tax up to $10,000. These two provisions are expected to have an impact on the housing market,” according to NAR economists. “Moreover, a higher standard deduction may lessen the incentive to purchase a home, as fewer consumers will utilize mortgage interest and property tax deductions.”

Source: National Association of REALTORS


A National Association of REALTORS report for Illinois predicts that mortgage rates will likely increase as The Federal Reserve continues to raise short term interest rates in 2018, causing a -1.1% impact on Illinois home prices. According to NAR calculations, there will be a -1.9% impact on Illinois home prices in 2018 due to the new tax law.

Here in Barrington, the median detached single family home sales price in zip code 60010 was $520,000 in January of 2018, when you look at 12 months of activity. That’s up 4% from $499,900 in January of 2017, which is a look on the bright side, despite NAR’s numbers for Illinois.

With the spring market on the horizon, we’ll continue to track and share these numbers to help you stay informed about home price trends throughout the Barrington area.


Do you have specific questions about property values in your neighborhood? Would you like to know more details about how things look in the different villages that make up zip code 60010? Email or fill out the form below and we’ll follow up with more information within 24 hours.

In the meantime, stay tuned for our State of the Market report plus details about properties currently for sale. That’s coming up at, published since 2010 by local REALTOR, Liz Luby of The Luby Group with @properties.

There are no comments yet.

Leave a Reply

Your email address will not be published.

365Barrington Partners

From the Community

Book your 5 star experience using the link in bio. | #barringtonil #barringtonillinois #lakezurichillinois #deerpark #barringtonlife #365barrington #living60010 #belocalbarrington #barringtonhills #noondailybarrington #hoffmanestates #palatineillinois #lakecountyil #barringtonscoop #southbarrington #southbarringtonil #invernessillinois #palatineil #chicagobarber #chicagohairstylist ...

2 1

I'm way behind on bird photos due to posting Snake Road photos. Here's a pair of Sandhill Cranes greeting each other as one arrived to take over nest-sitting duty from the other earlier this month. I wish the photo had sound! #sandhillcrane #sandhillcranes #crane #cranes #birding #birdingphotography #birdphotography #bestbirdshots #nutsaboutbirds #nikonbirds #citizensforconservation #365barrington ...

20 0

It’s always an egg-cellent brunch at eggologycafe. 😉🍳 Start your three-day weekend at The Arb! 📷: popfizzfixe
#eggologycafe #breakfast #brunch #delicious #tasty #yum #bites #barringtonbites #barringtoneats #eats #foodie #shopthearb #365barrington #barringtonscoop

8 3

Luby Group Listings

113 S Cook Street Barrington, IL 60010
Commercial For Sale
- Active

Retail storefront in prime pedestrian location in downtown Barrington surrounded by Village shopping, restaurants, and steps to the Metra train station. Great opportunity to own a high visibility space, currently vacant, ready for you to move in and

1592 Bedlington Drive Inverness, IL 60010
Single Family Home For Sale
- Active Under Contract

Elegant 4-bedroom, 3.1 bath colonial with water views, large finished basement and awesome location close to train, Barrington 220 schools and every community convenience. Immaculate & updated kitchen, family room with focal-point fireplace and spaci

New Listing - a week online
305 Beverly Road Barrington, IL 60010
Single Family Home For Sale
- Pending

Multiple offers received. Highest and best due Sunday at 6pm. Beautifully updated home in Barrington meadows! Bright and sunny main level features hardwood floors throughout, and has been opened up to feature an expanded, renovated kitchen (2016) wit

New Listing - a week online
105 N Wynstone Drive North Barrington, IL 60010
Land For Sale
- Active

Rare opportunity to build in Wynstone! This is a luxury gated community featuring the highly acclaimed Jack Nicklaus Golf Course and features 750 acres of rolling terrain that includes woodlands, wetlands, ponds and 120 acres of lakes. Please visit W


365Barrington Sponsors

Featured Events