When reviewing the North Barrington IL housing market for the second quarter of 2013, I am always drawn to Wynstone to see what’s going on over there. It’s a large community and was hit quite hard when the market tumbled and I have not yet seen anything that suggests it is going to become the cup cake of North Barrington again — yet.
North Barrington Real Estate Sales for Jan-June 2013
Although we have seen some odd months like April where sales in 2012 were higher than 2013, it’s easy to see that for the year we are up on 2012, in fact by 42%. Promising for home sellers to enter the market if the time is right, interest rates may have gone up but they are still low.
But what about pricing? Well the forecasts are that 60010 home prices will increase 2% on last year but that’s not a huge number folks so don’t go getting carried away on your pricing. Comparable sales are the best measure of a projected sales price for your North Barrington and Wynstone house. If your property does not conform to the neighborhood or if you are at the higher end of the market in this small village, asking a Realtor for an opinion of price and market time is recommended before you hang the for sale sign. It’s better to be disappointed now rather than after 12 months of marketing! Remember 2% isn’t going to make a lot of difference. If you are over-priced now, chances are that will still be true in a year.
I am a realist and want my sellers to be educated about their market, not the hype going on in AZ or CA. The good news is price it right and you won’t have to wait so long, buyers are buying and marketing times are slowly falling.
Now Wynstone Home Sales January to June 2013
In 2012 there were 11 sales during the first six months of the year. In 2013 there were 12. With 35 homes for sale in Wynstone and only 4 more that have contracts, it seems Wynstone is fighting an uphill battle to recover. This is very true of the homes priced at the higher end. Be patient, I am not sure why there are no buyers for Wynstone at the higher end. South Barrington seems to be a bigger draw for those buyers.