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Real Estate | Barrington New Construction Update as U.S. Housing Starts Soar

Real Estate | Barrington New Construction Update as U.S. Housing Starts Soar

Home Newsroom Real Estate | Barrington New Construction Update as U.S. Housing Starts Soar

The U.S. Commerce Department’s latest report on housing starts shows the number of new homes under construction increased by 10% in January to an annual rate of 1.33 million. According to MarketWatch, housing starts are now at the second highest level since the recession following the financial crisis. Bloomberg reports that the only region to suffer a setback in beginning construction last month was the Midwest, which was impacted by severe winter weather.

The good news here is that more new home construction leads to a greater supply of properties and increased options for home buyers. That helps keep housing shortages, prices and interest rates in check. Stable interest rates are key to maintaining real estate market momentum. So this big picture trend is a positive on the local level.

That’s why the January Housing Starts report has National Association of Realtors’ Chief Economist, Laurence Yun doing a happy dance expressing optimism“Terrific news on housing starts in January with a solid 10% gain. This rise in single-family housing construction will help tame home price growth, and the increase in multifamily units should continue to help slow rent growth… Ultimately, there is still large room for improvement given the fact overall housing inventory is currently near historic lows.”

Yun says this boost in housing supply helps the economy and also may help the Federal Reserve temper the pace of future short-term rate hikes. “That’s because the slow upward creep in the broad consumer price inflation is principally being driven by rising housing costs. Simply put, more housing supply means a lower inflation rate, and potentially a slower pace of interest rate increases by the Fed.”  

Here in the Barrington area, the number of active new construction listings in January, 2018 was 42. That’s down -26.3% from the 57 Barrington area new construction homes for sale in January of 2017. We’ll continue to follow these numbers to keep you up to date with a local snapshot based on national trends over time.

Interested in new construction available today in Barrington? Here’s a closer look at the options currently on the market…

$1,445,000
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
6,300
SQFT
36 Abbeywoods Lane
Barrington, IL 60010
Abbey Woods Subdivision
$1,237,000
Single Family Home For Sale
Pending
4
BED
5
TOTAL BATHS
4,100
SQFT
307 East Hillside Avenue
Barrington, IL 60010
Barrington Village Subdivision
$1,104,295
Single Family Home For Sale
Pending
4
BED
4
TOTAL BATHS
4,806
SQFT
29 Shenandoah Circle
South Barrington, IL 60010
THE WOODS OF SOUTH BARRINGTON Subdivision
$838,079
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
2,508
SQFT
28 Bryce Court
South Barrington, IL 60010
THE WOODS OF SOUTH BARRINGTON Subdivision
$825,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
3,600
SQFT
23590 North Owl Court
Lake Barrington, IL 60010
Walnut Grove Estates Subdivision
$799,900
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
4,576
SQFT
23150 Enclave Lane
Lake Barrington, IL 60010
Enclave of Heritage Estates Subdivision
$790,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
3,600
SQFT
23525 North Owl Court
Lake Barrington, IL 60010
Walnut Grove Estates Subdivision
$749,900
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
4,250
SQFT
23201 Coyote Trail
Lake Barrington, IL 60010
 
$732,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
3,475
SQFT
24341 N Blue Aster Lane
Lake Barrington, IL 60010
Tallgrass Subdivision
Price Change - 4 weeks ago
$729,927
Single Family Home For Sale
Active
3
BED
4
TOTAL BATHS
3,742
SQFT
24646 N. Blue Aster Lane
Lake Barrington, IL 60010
Tallgrass Subdivision
$699,900
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
4,541
SQFT
23314 Enclave Lane
Lake Barrington, IL 60010
Enclave of Heritage Estates Subdivision
$661,953
Single Family Home For Sale
Pending
2
BED
4
TOTAL BATHS
2,091
SQFT
24 Big Horn Court
South Barrington, IL 60010
THE WOODS OF SOUTH BARRINGTON Subdivision
Price Change - 4 weeks ago
$658,927
Single Family Home For Sale
Active
2
BED
3
TOTAL BATHS
3,215
SQFT
24413 N. Blue Aster Lane
Lake Barrington, IL 60010
Tallgrass Subdivision
$649,900
Single Family Home For Sale
Active
3
BED
3
TOTAL BATHS
3,230
SQFT
23192 Coyote Trail
Lake Barrington, IL 60010
Enclave of Heritage Estates Subdivision
$635,160
Condo For Sale
Pending
2
BED
2
TOTAL BATHS
1,608
SQFT
407 East Main Street #303
Barrington, IL 60010
 
$599,900
Single Family Home For Sale
Active
2
BED
2
TOTAL BATHS
2,570
SQFT
23153 Coyote Trail
Lake Barrington, IL 60010
Enclave of Heritage Estates Subdivision
$599,695
Single Family Home For Sale
Pending
3
BED
3
TOTAL BATHS
2,300
SQFT
30 Joshua Court
South Barrington, IL 60010
THE WOODS OF SOUTH BARRINGTON Subdivision
$559,990
Single Family Home For Sale
Active
2
BED
3
TOTAL BATHS
3,210
SQFT
24196 N Coneflower Drive
Lake Barrington, IL 60010
Tallgrass Subdivision
Open House 10/26 at 12PM
$499,990
Townhouse For Sale
Price Change
3
BED
3
TOTAL BATHS
2,098
SQFT
524 Pershing Lot #11.03 Court
Barrington, IL 60010
Brentwood Subdivision
Open House 10/26 at 12PM
$419,990
Townhouse For Sale
Active
3
BED
3
TOTAL BATHS
1,877
SQFT
511 Peterson #9.03 Court
Barrington, IL 60010
Brentwood Subdivision

Do you have specific questions about Barrington real estate, homes for sale or 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 RealEstate@365Barrington.com or fill out the form below and we’ll follow up with more information within 24 hours.

In the meantime, stay tuned for more local real estate market updates here at 365Barrington.com, published since 2010 by local REALTOR, Liz Luby of The Luby Group with @properties.

 

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Luby Group Listings

$474,000
4
BED
4
TOTAL BATHS
4,389
SQFT
7 Lakeside Lane North Barrington, IL 60010
Single Family Home For Sale
- Active

Terrific opportunity to own water front property in sought after Wynstone community, with over 4,300 square feet of living space including a full finished walk out lower level! This home features an open floor plan with volume ceilings, floor to ceil

$475,000
4
BED
3
TOTAL BATHS
2,932
SQFT
23443 West Mallard Court Deer Park, IL 60010
Single Family Home For Sale
- Contingent

Lovely updated 4 bedroom ranch on lush interior lot in Deer Park! Great layout with many updates. Kitchen features hardwood floors, granite, island with breakfast bar, separate beverage refrigerator, and adjacent breakfast eating area. Terrific fa

$419,000
4
BED
3
TOTAL BATHS
2,550
SQFT
104 East Lake Shore Drive Tower Lakes, IL 60010
Single Family Home For Sale
- Active

WATERFRONT hillside ranch in sought after Tower Lakes Community, enjoy resort style living year round with 196' of lakefront! This fabulous 4 bedroom all brick home has been lovingly maintained, offering great space and a versatile floor plan. The ma

$600,000
4
BED
4
TOTAL BATHS
3,352
SQFT
25966 Oak Hills Road Lake Barrington, IL 60010
Single Family Home For Sale
- Contingent

Beautifully designed contemporary with fabulous floor plan, this one of a kind home is open & bright with vaulted ceilings, skylights, & custom 2 story windows throughout. Updated kitchen made for entertaining features custom cabinets, granite, stain