For Sale, How's the Market?, Market Update, News, Real Estate, Real Estate Report, Things to Do

Real Estate | Barrington Area Market Update – February, 2018

Real Estate | Barrington Area Market Update – February, 2018

Home Newsroom Real Estate | Barrington Area Market Update – February, 2018

Interested in learning more about Barrington real estate? Stay tuned for the latest market news, updates, homes for sale & upcoming open house lists right here at 365Barrington.com. In the Barrington area there are 494 homes currently on the market, of which 442 are detached, single-family properties. An additional 97 properties are currently under contract (as of 2.21.2018) with a median list price of $440,000 and average list price of $589,998. The highest priced property in the area is a Barrington Hills listing priced at $14,888,000. The lowest priced property for sale is listed at $125,000. Here’s a look at the newest listings to hit the market in Barrington…

Looking back at the month of January, 2018 in Barrington, there are three key trends compared to January of 2017 indicating that inventory is down in our market, with fewer options for sellers searching for homes today.

Real Estate Market Trends

  • The quantity of new listings to come on the market was down -2.9% from January of 2017.
  • The number of closed sales in January, 2018 was down -14.0% from January of 2017.
  • The inventory of Homes for Sale at the end of January, 2018 was down -8.7% from January, 2017.
MIDWEST REAL ESTATE DATA LLC

 

Real Estate Supply & Demand

Fewer homes for sale in the Barrington area leads to a lower “absorption rate”, which is the amount of time that it would take for the current supply of homes on the market to sell. As a rule of thumb, a 6-month supply of housing inventory is considered a balanced market. It is a buyer’s market when there is more than a 6-month supply of inventory and a seller’s market when there is less than a 6-month supply.

When comparing “The Barringtons”, you can see in the chart below that The Village of Barrington had the lowest absorption rate at 4.9 months supply of inventory in January, 2018. North Barrington had 9.4 months supply of homes for sale, South Barrington had 9.6 months supply and Barrington Hills had a 20.8 month’s supply as of January, 2018. (Turn phone to side for full mobile view of chart.)

We’ll continue to track and share these numbers in the months ahead to help you stay on top of local trends in real estate. Interested in exploring the market by visiting available properties? Here’s a look at upcoming open houses in the Barrington area.

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.

There are no comments yet.

Leave a Reply

Your email address will not be published.

365Barrington Partners

From the Community

⏰ It’s always wine o’clock at chwinery. 🍷Celebrate #nationalwineday with your favorite pour!
.
.
.
#coopershawk #coopershawkwinery #winery #wine #eats #foodie #barringtonfoodie #barringtoneats #shopthearb #barringtonscoop #365barrington
...

5 0

A great haircut is the foundation of a great style. | Cut and style by Master Designer Erica | Click the link in bio or call us at 224-633-2188 for reservation | #barringtonil #barringtonillinois #lakezurichillinois #deerpark #barringtonlife #365barrington #living60010 #belocalbarrington #barringtonhills #noondailybarrington #hoffmanestates #palatineillinois #lakecountyil #barringtonscoop #southbarrington #southbarringtonil #invernessillinois #palatineil ...

9 1

Luby Group Listings

$330,000
1,294
SQFT
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

$669,000
4
BEDS
4
TOTAL BATHS
2,926
SQFT
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 - 7 days online
$500,000
4
BEDS
4
TOTAL BATHS
3,384
SQFT
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
$79,900
1.19
ACRES
LAKE
COUNTY
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

Newsletter

365Barrington Sponsors

Featured Events