Barrington Hills Homes Sold October 2016 & Market Trends refers only to homes in the small community of Barrington Hills and those that were marked as Barrington Hills when listed in the MLS. I need to make this distinction as I often see homes listed as Barrington, whereas they should be Barrington Hills. This is usually by non local Realtors.
I extracted the data from October 1st through October 31st 2016 from our local Multiple Listing Service (“MLS”). Barrington Hills homes are all single family and the majority are on 5 acre lots.
Barrington Hills homes range in price from just under $600,000 to as high as $20 million at times. The median price listing is now $1,183,450. Whether you want to find a budget horse property or a mansion, you can start browsing Barrington HIlls homes here.
Barrington Hills Homes Sold October 2016 & Market Summary
Single Family Homes Market Report End October 2016
- 121 Active Homes For Sale Today
- 13 Homes Under Contract (Contingencies Remain)
- 3 Homes Pending (All Contingencies Met)
- Average List Price: $1,129,500
- Units Sold: 4 closed in October
- Average Sales Price: $1,073,125
- Sales Price to List Price Averaged: 96%
- Days on Market: 190
- For all of Barrington Hills the Absorption Rate: 28 months. Good luck for buyers it’s your market! For high priced homes please see below.
Absorption rate has been determined by sales over the last 6 months.
Barrington Hills has some expensive homes for sale and they tend to have long market times.
I have noticed an increase in the homes above $2 million selling this year. We have had 4 homes sold but the average marketing time was long at 2436 days. Or better phrased 6.67 years. There are still 22 homes listed for sale in Barrington Hills above $2 Million. With only 4 sold so far this year, we do have 3 more under contract, one waiting on short sale approval and another Pending. Cautiously stated, I think 4 more will close this year. So 8 sales in a year means that marketing time should come down.
The absorption rate is long for Barrington Hills. It would take over 2 years for all the homes to sell at the current monthly sales volume. This will likely be fueled by new listings in the spring. Patience is need for home sellers in Barrington Hills. There’s no magic. Part of the reason is due to acreage not being wanted by many and needed by a few. Other than that it’s a high priced market, the higher the price point, the fewer the buyers.
You can read more market reports on the communities of Barrington here.