Today’s Barrington Hills real estate market report is for the third quarter of 2013 and we’ll be looking at sales during July, August and September. Let’s also compare to 2012 and take a look at horse property sales this year.
Barrington Hills 3rd Quarter Stats
- Properties Sold – 17
- Average days on market – 470 days
- List to sales price ratio – 93%
- Average sales price – $762,825
Current Active Market – There are 108 single family homes for sale and another 17 under contract. The prices range from $209,000 to $14,900,000. Average market time for these listings is 366 days. In general terms the higher up the pricing ladder you go, the longer it takes to sell a home. The good news is the higher priced homes are beginning to sell. We have one at $2.2 Million under contract. The maximum price sold in the last 12 months was $2.4 million.
Barrington Hills Real Estate Market Report 2007 to 2012
The chart below shows how many sales we had in these years and quite clearly 2012 was a strong year.
Now let’s look at 2013. How many sales have we had to date, up to end of September. The answer is 37! Hmmmm I don’t think we are going to get to 70 this year. We do have 17 properties under contract which if they all closed would bring us to 54 and maybe a couple more but I think the top number is going to be under 60.
As far as Barrington Hills is concerned that’s a little disappointing but really it’s not that bad if you look at the chart for all the preceeding years is it? I’ll take 60 as a sign the market is strong. We do have to work on getting that time on market down.
If you have a home to sell in Barrington Hills, pricing is still a key issue. Buyers are unlikely to encounter multiple offer situations here yet.