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Real Estate | Home Prices, Homecoming & Why We #ChooseBarrington

Real Estate | Home Prices, Homecoming & Why We #ChooseBarrington

Home Newsroom Real Estate | Home Prices, Homecoming & Why We #ChooseBarrington

As we kick off Homecoming weekend in Barrington, I’m wrapping up a review of our local real estate market trends and find myself reflecting on the reasons why WE chose to move to Barrington. This weird thing happens whenever I spend a while staring at Midwest Real Estate Data (MRED) statistics. I usually get a song stuck in my head and, this time, it’s Small Town, John Cougar Mellencamp’s classic ode to the place he calls home. Push play and turn it up before you read on…

While Barrington’s not a small town in quite the same way as Mellencamp’s, the lyrics capture a little of why we all live here, right? Especially on Homecoming weekend…

No I cannot forget where it is that I come from
I cannot forget the people who love me
Yeah, I can be myself here in this small town
And people let me be just what I want to be

About 32 miles northwest of Chicago, the Barrington area is home to over 44,000 residents spread over 90 square miles. It’s a one-of-a-kind community in Chicagoland because it’s made up of seven villages offering a unique mix of options for living.

Want a home with historic charm or a commuter’s choice condo walking distance to downtown? We’ve got it! Want space to spread out with an acre (or 5-plus) zoned for horses? Check ✅. What about a golf course community, lakefront living or a forest preserve and equestrian trails right out your back door? Yes, yes and yes! The Barrington area offers something for everyone.

A downtown Metra Station, easy access to O’Hare airport, Top ranked schools, an abundance of shopping, restaurants, cultural and outdoor activities round out the reasons buyers choose Barrington. Education, neighbors, family, friends, faith, fun and the spirit of community. It’s the package that led us to Barrington and we’d do it over and over and over again in any real estate market. Wouldn’t you? Now for the numbers…

Here’s how things shaped up in the Barrington area at the end of August, 2018 compared to August, 2017. Here we’re considering Detached Single-Family homes & ACTUAL MONTHLY DATA.

  • New Barrington area listings (Detached Single-Family) were up +20.2% from August, 2017
  • The quantity of closed sales (Detached Single-Family) in August down -25.7% from August, 2017
  • Median sales price (Detached Single-Family) was down -12.7% compared to August, 2017 (See below)

How we see it?

The increase in new listing activity is a positive. More new homes for sale means more choices for buyers and more buyers entering the market. Over time, it also means more competition for sellers which can put downward pressure on prices. In an an article published this week Realtor.com Chief Economist Danielle Hale said, “The signs are pointing to a market that’s shifting toward buyers… But in most places, we’re still a long way from a full reversal.”

Today, what you’ll also find in Barrington is tremendous opportunity and VALUE  in terms of the available home for sale.

Here’s a look at the how the Detached Single Family Home Median Sales Price looked this August. Here we’re considering the PREVIOUS 12 MONTH PERIOD through the end of August compared to the same snapshot from August of 2017.

  • Entire Barrington Area
    $485,000 | Down -6.6% from August, 2017
  • South Barrington
    $750,000 | Up +3.4% from August, 2017
  • Barrington Hills
    $695,00 | Down -3.5% from August, 2017
  • North Barrington
    $537,450 | Down -2.3% from August, 2017
  • Deer Park
    $510,000 | Down -2.9% from August, 2017
  • Lake Barrington
    $499,500 | Down -2.9% from August, 2017
  • Village of Barrington
    $434,500 | Down -7.6% from August, 2017
  • Tower Lakes
    $368,750 | Down -18.1% from August, 2017

(If you’re viewing this on your phone, turn to side for full view of graphs.)

Though the Federal Reserve hiked interest rates Wednesday for the third time this year, National Association of Realtors Chief Economist, Lawrence Yun says he doesn’t foresee a significant decline in buyer activity.

“We have two opposing factors affecting the market: the negative impact of rising mortgage rates and the positive impact of continued job creation,” Yun says. “This should lead to future homes sales staying fairly neutral.

We can all play a part in spreading the word about what makes Barrington a great place to live. Tell your friends elsewhere in Chicagoland to COME AND SEE everything this community has to offer! Share your local lifestyle photos on social media with (hashtag) #365Barrington or #ChooseBarrington and we’ll add them to our daily collection at 365Barrington.com.

And if you’re interested in a closer look at homes for sale in Barrington today, give me a call/text at 847-691-3150 or email Liz@365Barrington.com. I’m a long-time local Realtor working with my family, The Luby Group, and the @Properties office here in Barrington.

Want to start looking this weekend? There are over 40 open houses sheduled in the Barrington area. See below for the list, tell them Liz Luby Chepell sent you and contact me next week for a more detailed look at the homes in your target area and price range. In the meantime, happy hunting, happy Homecoming and hope to see you around our “small town” soon!

Open House 12/15 at 1PM
$499,000
Single Family Home For Sale
Active
5
BED
4
TOTAL BATHS
4,308
SQFT
44 Steeplechase Road
Barrington Hills, IL 60010
 
Open House 12/15 at 1PM
$214,000
Condo For Sale
Active
2
BED
2
TOTAL BATHS
1,276
SQFT
944a Oak Hill Road #517SFL
Lake Barrington, IL 60010
Lake Barrington Shores Subdivision
Open House 12/14 at 12:30PM
$624,013
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
3,797
SQFT
24401 North Blue Aster Lane
Lake Barrington, IL 60010
Tallgrass Subdivision
Open House 12/14 at 12:30PM
$672,000
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
Open House 12/14 at 12PM
$1,395,000
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
6,300
SQFT
36 Abbeywoods Lane
Barrington, IL 60010
Abbey Woods Subdivision
Open House 12/14 at 12PM
$375,000
Single Family Home For Sale
New
3
BED
3
TOTAL BATHS
1,969
SQFT
113 Elm Road
Barrington, IL 60010
Jewel Park Subdivision
Open House 12/15 at 12PM
$850,000
Single Family Home For Sale
New
5
BED
7
TOTAL BATHS
8,368
SQFT
20 Hidden Brook Drive
North Barrington, IL 60010
Wynstone Subdivision
Open House 12/15 at 12PM
$659,000
Single Family Home For Sale
Active
4
BED
6
TOTAL BATHS
6,109
SQFT
22689 North Linden Drive
Lake Barrington, IL 60010
Pheasant Ridge Subdivision
Open House 12/14 at 11AM
$419,000
Single Family Home For Sale
Active
4
BED
2
TOTAL BATHS
2,254
SQFT
127 Howe Terrace
Barrington, IL 60010
Hillcrest Acres Subdivision
Open House 12/14 at 12PM
$974,900
Single Family Home For Sale
Active
6
BED
5
TOTAL BATHS
4,800
SQFT
503 Division Street
Barrington, IL 60010
Barrington Village Subdivision
Open House 12/14 at 11AM
$510,000
Single Family Home For Sale
Active
5
BED
3
TOTAL BATHS
3,323
SQFT
5121 North Tamarack Drive
Hoffman Estates, IL 60010
Evergreen Subdivision
Open House 12/15 at 12PM
$824,900
Single Family Home For Sale
Active
6
BED
7
TOTAL BATHS
7,245
SQFT
43 South Wynstone Drive
North Barrington, IL 60010
Wynstone Subdivision
Open House 12/14 at 12:30PM
$726,000
Single Family Home For Sale
Active
4
BED
5
TOTAL BATHS
4,542
SQFT
Address Withheld
Lake Barrington, IL 60010
Tallgrass Subdivision
Open House 12/14 at 12:30PM
$599,013
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

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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
- Contingent

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

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BED
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SQFT
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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

$675,000
5
BED
4
TOTAL BATHS
3,629
SQFT
1 Burning Oak Trail Barrington Hills, IL 60010
Single Family Home For Sale
- Active

Stunning home on 2.6 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

$375,000
COOK
COUNTY
113 South 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

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Day 1 – Thursday, December 12
Dibon Cava

This fresh and zippy Spanish wine is great with casual brunches or can be used to create an excellent Champagne punch!

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Day 2 – Friday, December 13
A to Z Wineworks Rosé Bubbles

Made from Pinot Noir grown in Oregon, you’ll find expansive ripe berry flavors that make this a great choice to serve with roast poultry.