Barrington Illinois Real Estate Market Trends October 2016 is hot on the heels of my September report, so here are the home sale stats for the month. This market report is again for Barrington IL in general, in other words everything in the zip code 60010. The data was extracted from October 1st through October 31st 2016 from our local Multiple Listing Service (“MLS”).
There has been a noticeable drop off in sales which peaked in July, fell slightly in August and for September and October dropped by about 25%. While typical for the colder months here in Barrington, these closings were set up in July and August, so the drop off in sales came a little earlier than usual. We do not normally see the decline until November. And the weather has not been the reason. November 1st 2016 and the temperature was 75F. Who can complain at that!
Barrington Illinois Real Estate Market Trends October 2016 Summary
Single Family Homes Market Report End October 2016
- 590 Active Homes For Sale Today
- 73 Homes Under Contract (Contingencies Remain)
- 21 Homes Pending (All Contingencies Met)
- Average List Price: $695,117
- Units Sold: 49
- Average Sales Price: $621,934
- Sales Price to List Price Averaged: 94%
- Days on Market: 182
- Absorption Rate: 9.97 months. Good luck for buyers it’s your market!
Condos & Townhomes Market Report End October 2016
- 55 Active Homes For Sale Today
- 9 Homes Under Contract (Contingencies Remain)
- 6 Homes Pending (All Contingencies Met)
- Average List Price: $282,570
- Units Sold: 10
- Average Sales Price: $277,400
- Sales Price to List Price Averaged: 95%
- Days on Market: 104
- Absorption Rate: 3.45 months. Still a sellers market!
Absorption rate has been determined by sales over the last 6 months.
Before listing your Barrington home for sale it’s useful to understand the current market trends in your community. They are different for each village and my next reports will address each of our communities and the others on this website. If you are considering selling, should you wait it out or start now? Give me a call and we’ll chat through your situation. Real estate is NOT a one rule fits all.
Corinne can be reached at 847-363-3686.