Lake Barrington IL homes in October show sales are slowing. As we head towards the end of year, the market time from listing to contract in Lake Barrington made a substantial climb. Not necessarily unexpected at this time of year but perhaps a little early. I expect this to stay like this until spring. Just bear in mind that at under 180 days it is better than other areas in Barrington.
Lake Barrington IL Homes – Market Trends October 2016 Summary
Single Family Homes Market Report End October 2016
- 57 Active Homes For Sale Today
- 6 Homes Under Contract (Contingencies Remain)
- 2 Homes Pending (All Contingencies Met)
- Average List Price: $619,472
- Units Sold: 3
- Average Sales Price: $382,961
- Sales Price to List Price Averaged: 88% (This is a poor result!) The average for most Barrington areas is around 95%.
- Days on Market: 231
- Absorption Rate: 13+ months. Good luck for buyers it’s your market!
Condos & Townhomes Market Report End October 2016 (Lake Barrington Shores)
- 30 Active Homes For Sale Today
- 12 Homes Under Contract (Contingencies Remain)
- 0 Homes Pending (All Contingencies Met)
- Average List Price: $309,100
- Units Sold: 9
- Average Sales Price: $277,278
- Sales Price to List Price Averaged: 95%
- Days on Market: 111
- Absorption Rate: 3 months. This is favoring sellers but with winter approaching, new listings should be careful not to over-price.
Absorption rate has been determined by sales over the last 12 months.
Before buying a Lake Barrington home for sale it’s useful to understand the current market trends in the community. They are different for each village and my reports will address each of our communities and the others on this website. If you are relocating to Lake Barrington Illinois, we’re the experts in relocation home purchases. You can reach out to us for help.
Corinne can be reached at 847-363-3686.