Barrington IL real estate has been popping during the month of May 2013, and to prove that it’s time for a market update. This month I wanted to see which were the most active price bands. With 57 sales of both single family homes and condos or townhomes it’s enough to see what’s popular. 50 of the sales were single family homes, only 7 were condos or townhomes.
As you can see from the chart which has price bands on the left and closings along the bottom, there were two ranges that dominated. I am not surprised to see $600000 to $699,999 as one of those, it represents the median price of single family homes in the entire Barrington area. It’s also good to see some of the higher priced homes in there. There’s no doubt the market is changing and Barrington IL real estate is recovering, albeit not at the same pace as other areas around the country.
A slow and steady pace for me is much better than the huge swings seen in some southern states. That’s too much like a roller coaster, something I don’t like riding. A gradual recovery here puts more equity back in our pockets and is less likely to crash and burn again.
More Barrington IL real estate market statistics.
Average marketing time for May 2013 was 232 days.
251 days for single family and 101 days for attached.
Average list to sale ratio was 91%.
91% for single family and attached homes.
Average sale price was $530,329.
$572,166 for single family and $231,500 for attached.
There are 172 homes under contract.
150 single family homes, 22 attached homes.
93 of those contracts were dated May.
81 single family homes and 12 attached homes.
There’s no doubt that June and July 2013 are going to see a substantial amount of closings of Barrington IL real estate. With 422 homes available for sale in 60010 there’s still plenty of choice for buyers and if you are in the market to buy, be mindful that interest rates have been creeping up lately.