Lake Barrington is fairly evenly split, with about the same amount of single family homes as condos ownership homes. In case you didn’t know, Lake Barrington is home to Lake Barrington Shores, our gated condo and town home lifestyle community. So this report will show both so sellers and buyers can get an accurate picture into how the market is fairing.
First let’s see how many closings we had in December 2012. There were 3 of each. The average sale price of single family homes was $565,000 and for Lake Barrington Shores $212,667. Single family homes sold at 95% of asking price, LBS a little lower at 92%. Average marketing time was 202 days and 176 days respectively.
Single Family and Attached Homes Sold 2007 – 2012
It’s always interesting to compare home sales each year but to get a true picture of the market, going back over the last 6 years will help you see how well we really did in 2012. Both single family home sales and condos and town home sale were both up and exceeded every other year since 2007.
If you are considering selling your Lake Barrington home in 2013, now that the Fiscal Cliff was avoided and mortgage interest rates, although rising are still very low, price it right and present it well and look for a sale in under six months.