South Barrington home sellers want to know how the real estate market is fairing in their neighborhoods. Assuming there won’t be any more sales recorded, although there might be some late commers to the MLS data, I’ll publish today regardless, I have a lot of reports to churn out this month as South Barrington and many others I do quarterly.
Here are some stats on the sales and if you would like to see the homes that sold, just scroll down a bit.
- 10 homes sold during this first quarter compared to 11 in 2012.
- Average marketing time for these 10 sales was 262 days compared to 108 in 2012.
- Average list to sale price ratios for 2013 is 91%. Sale price as a percentage of the original list price is 88%. That means that price cuts were needed but only about 3%.
Interestingly the five bedroom homes in South Barrington sold faster on average than the four bedroom homes, by some 104 days. South Barrington’s housing stock is primarily 4 and 5 bedroom homes with a few that have 6 or 7. There are very few 3 bedroom homes here. As a luxury property market it’s not uncommon for families to have in laws living with them or for a live in nanny, and I am sure this contributes to the need for 5 bedroom homes.
South Barrington Homes Sold – First Quarter 2013
For those that are interested in the sales for this quarter, these are the addresses and sale amounts.
If you are considering selling this year, it’s important to know the data and get an insight into your market. Homes in the upper quartile generally take longer to sell than the lower three. If your home is a high priced home, you’ll need to have patience, we still consider the South Barrington luxury market to be quite soft, there are not enough buyers out and about yet.
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