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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 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…

$2,460,000
Single Family Home For Sale
Active
5
BED
8
TOTAL BATHS
8,600
SQFT
6 Blossom Court
South Barrington, IL 60010
Magnolia Pointe Subdivision
$2,350,000
Single Family Home For Sale
Active
5
BED
6
TOTAL BATHS
8,730
SQFT
18 Star Lane
South Barrington, IL 60010
Magnolia Pointe Subdivision
Open House 04/27 at 11AM
$1,580,000
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
6,300
SQFT
36 Abbey Woods Drive
Barrington Hills, IL 60010
ABBEY WOODS Subdivision
$1,150,000
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
4,811
SQFT
28 Rainier Circle
South Barrington, IL 60010
The Woods of South Barrington 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
$1,027,465
Single Family Home For Sale
Pending
4
BED
6
TOTAL BATHS
4,654
SQFT
15 Shenandoah Drive
South Barrington, IL 60010
The Woods of South Barrington Subdivision
$849,000
Single Family Home For Sale
Contingent
4
BED
4
TOTAL BATHS
2,900
SQFT
748 Prairie Avenue
Barrington, IL 60010
BARRINGTON VILLAGE 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
New Listing - 2 weeks online
$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
$759,934
Single Family Home For Sale
Pending
4
BED
4
TOTAL BATHS
3,830
SQFT
24366 N. Blue Aster Lane
Lake Barrington, IL 60010
Tallgrass Subdivision
$749,934
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
$749,900
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
4,250
SQFT
23201 Coyote Trail
Lake Barrington, IL 60010
 
New Listing - 4 days online
$739,900
Single Family Home For Sale
New
4
BED
4
TOTAL BATHS
3,475
SQFT
24341 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
$699,900
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
4,541
SQFT
Lot 3 Tree Ridge
North Barrington, IL 60010
 
$669,934
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
$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
$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

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

$515,000
4
BED
4
TOTAL BATHS
3,631
SQFT
744 Oak Road Barrington, IL 60010
Single Family Home For Sale
- Active

Lovely New England Classic in a prime cul-de-sac location at the end of Oak Road has curb appeal, character and charm. This home is light filled and offers a first floor master suite, complete with a gas fireplace and updated master bath. Well equi

$519,000
3
BED
3
TOTAL BATHS
540 South Cook Street Barrington, IL 60010
Single Family Home For Sale
- Active

Barrington Village living at its best! Steps to downtown restaurants, shops & schools, this historic home has been completely updated. Enjoy views of Cook Street from the porch swing or visit with friends on the large front wrap-around porch, welcomi

$825,000
6
BED
7
TOTAL BATHS
6,946
SQFT
55 Stratham Circle North Barrington, IL 60010
Single Family Home For Sale
- Contingent

Absolutely stunning! Completely remodeled home, truly a great value with over 6900 square feet of finished living space. Volume entry leads to dramatic two story family room with Birger Juell hardwood floors, abundant windows & light, custom beams &

$689,000
5
BED
4
TOTAL BATHS
3,629
SQFT
1 Burning Oak Trail Barrington, IL 60010
Single Family Home For Sale
- Active

Stunning home on 2.2 acre wooded lot with private pond and creek! Gleaming hardwood flooring throughout most of first floor. Gourmet kitchen with center island and adjacent hearth room with cozy fireplace are the hub of every day living. Great room f