My North Barrington market report for the 3rd quarter of 2013 is a little late so if you don’t mind I am going to combine it with Wynstone and kill two birds with one stone.
Talking of two birds, we still have our resident Sand Hill Cranes, there’s no doubt they are fueling up for the long flight south, I almost cannot keep up with the amount of corn they are eating. I’ve seen several pairs of these birds in both North and Lake Barrington. They usually leave towards the end of November.
North Barrington Market Report Statistics
First let’s look at the last few years sales by year and then we can compare to see how well we are doing in 2013. The following chart simply shows sales in North Barrington from year 2007 to 2012. Last year certainly showed us the market was improving.
Now to 2013. So far this year there have been 52 sales in North Barrington. With another 3 months to go it looks like we should have more sales in total this year but much will depend on how many homes under contract in the next 2 to 3 weeks combined with those already on their way to the closing table.
North Barrington Homes Under Contract – Currently the number is 11. I think it’s fair to say most of those should close before the end of the year, add the 3 already closed in October, perhaps factor in 2 more contracts which will have time to close and we might be able to reach 70. It’s been a very long time since we’ve seen a market that strong.
Third Quarter Activity for North Barrington
Sales for July, August, September – 23
Average market time for these sales – 278 days
List to sale price ratio (after any price reductions) – 95%
Average sale price – $579,778
Third Quarter Activity for Wynstone North Barrington
Sales for July, August, September – 7
Average market time for these sales – 592 days
List to sale price ratio (after any price reductions) – 93%
Average sale price – $579,286
While North Barrington as a whole is doing well it seems Wynstone is still struggling. Sales above $750,000 are slow to get going. As for the rest of North Barrington the average time on market includes those homes in Wynstone so in general terms it won’t be quite as long as the average.