It was a little chilly at times during January 2013, not so much snow although yesterday, February 7th, made up for that. Barrington also clocked a few homes sold in January too with more going under contract every day. This month I am going to combine all the villages that fall in the zip 60010 and report collectively. January each year always reflects closings for homes that went under contract in November and December the previous year.
Here are the statistics:
60010 homes closed in January 2013 – 35
60010 homes under contract January 2013 – 59
Average marketing times for the homes closed in January was – 240 days
Average marketing time for the homes under contract in January was – 272 days
Barrington Property Inventory Declining
How about new listings for January? There are some buyers who have looked at the old stock and are waiting for new. Typically the surge of new homes listed is in spring but January has not been a slow month with 60 new properties coming to the market. With 59 homes under contract this month the inventory pool gained just one.
Let’s look at a breakdown of those 60 homes:
- 1 property already closed.
- 13 already have contracts. A breakdown of list date to contract date in days for those 13 homes goes like this:
0, 1, 3, 5, 6, 8, 9, 9, 11, 12, 15, 20, 21. That’s some fast selling properties!
That equates to 25% of the new homes already with buyers. That tells me we have a pent up pool of buyers ready to buy a house.