For Sale, How's the Market?, Market Update, 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. Required fields are marked *

Barrington
43°
clear sky
humidity: 57%
wind: 7mph WSW
H 44 • L 42
57°
Thu
50°
Fri
53°
Sat
57°
Sun

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