Updating my South Barrington Real Estate Market Report.
This is a post I originally published in February 2013, I wanted to update my South Barrington real estate market report for this year to see how we are doing by comparison, now the prime selling season is winding down.
South Barrington Homes sold in December 2012 – 3. That may not sound many but South Barrington is a small village; a review of the year 2012 compared to previous years will give us a better idea of how buoyant the market is becoming, especially as South Barrington homes account for a lot of our higher priced transactions. The following chart shows sales each year since 2007. There’s quite a difference in 2010 and 2011 compared to 2007/8/9 but no doubt in my mind 2012 shows we have turned the corner.
October 2013 Update – How many South Barrington homes have sold so far in 2013? 59. There are also 7 under contract which will bring us to 66. Possibly we could add another 2 or 3 before the year 2013 is finished. We may just touch 70 for the year. That’s a pretty strong market if you look at the last 6 years.
South Barrington Homes Inventory
Let’s review the upper quartile of home sales in South Barrington in 2012. The upper quartile were homes that sold between $861,500 and $2,350,000. The upper quartile range of homes for sale in South Barrington today are homes above $2,000,000. Why? Simply because we have more higher priced listings available now the market confidence is returning. In fact there are only 15 homes priced under $860,000 and of those 7 are under contract.
October 2013 Update – We now have more inventory under $1 Million. 32 active listings and only 6 more with contracts. Contact us if you are considering selling your South Barrington home. Whether you take the plunge now, late in the year, or wait until spring, the South Barrington real estate market has appeared to have turned the corner and is climbing again.
If you want to take a look at your competition, view South Barrington Homes Listed