Real Estate in Barrington & The Northwest Suburbs

South Barrington Real Estate - 2011 Year End Review

January 18th 2012 already! This month is flying by so I must get the remaining market reports done for 2012. Today we'll review South Barrington real estate sales during the last year. In case you are a first time reader or not a local, South Barrington real estate is known for it's luxury homes in the zip code 60010. South Barrington real estate has suffered alongside the rest of the zip code. Values have fallen, sales have slowed and while not a majority of the market, we have not been immune to short sales and foreclosures.

South Barrington Real Estate Market Report-Absorption Rate

This chart has a few tales to tell. The difference in South Barrington real estate sales between the two halves of the year is astounding. In the first 6 months there were only 9 sales. The second half had 37. Thankfully the last 6 months had a more balanced sales activity. In 2012 we have 10 South Barrington homes under contract so sales in the first half of this year should be better.

Our absorption rate shows we are still in a buyers market with about 9 months of supply. A small increase in list to sales ratio was seen but we really need to pull this up a little to 95%. If listing your South Barrington home in 2012, your average days on market hovers around 200 days. Ask me to make suggestions on how to beat that number. Corinne: 847-363-3686

South Barrington is a Great Place For Doctors To Live.

Well actually South Barrington is a great place for anyone to live. So why Doctors? Simply because South Barrington is located very close to I-90. It does not matter which subdivision in South Barrington you live in, it’ll likely only take you at most 5 minutes to get to I-90.

What’s so exciting about I-90? Not much, let’s face it, 6 lanes of traffic, cars, trucks, semi’s and toll booths is not a place we want to spend much time, but it does have advantages. You can get from A to B pretty darn quick, as long as you don’t want to head downtown to Chicago!

After spending some time with new Physician buyer clients this past weekend, I learned a little about how their working life is organized. They will see patients in their offices but if surgery is a skill set used in their practice they need to use a hospital. Each practice is affiliated with one or more hospitals.

Let’s say you are going to be affiliated with Sherman Hospital in Elgin, or Rush Children’s Hospital Specialists these are both very close to I-90. Alexian brothers in Hoffman Estates is just a minute south of I-90. Advocate Lutheran in Park Ridge can be reached from I-90 then north on I-294. Resurrection Hospital on the outskirts of Chicago is very close to I-90. Even Northwest Community Hospital can be reached from I-90 north on Route 53 and a few minutes west.

So if you are a Physician and need quick access to your hospitals, consider South Barrington and it’s close proximity to I-90. South Barrington has a great choice of luxury single family homes with prices from $600,000 up to about $8 million, it offers waterfront homes and large lots on average about1.5 acres. South Barrington homes are also close to The Arboretum Shopping Mall, The Tennis Club and Swimming Pools and theater too. Another option is Inverness, it’s very close to South Barrington with similar home prices.

Search South Barrington Listings.

Contact:

Corinne Guest

Royal Advocate Realty

Info@CorinneGuest.com

(847) 363-3686

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Copyright 2011 Corinne Guest All Rights Reserved * South Barrington is a Great Place For Doctors To Live. *

The 2009 Real Estate Market for South Barrington was very comparable to both 2008 and 2007.

South Barrington Illinois is home to both single family homes, luxury homes and some new construction. Here are the statistics.

Single Family Homes Sold - 37

Single Family Homes sold on average in 260 days.

Single Family Homes sold at  89% of the final list price - 85% of the original list price.

The average sale price in South Barrington was $980,000. Lowest sale price was $370,000 which was a short sale and highest $3,000,000. The was only 1 short sale and 1 foreclosure sale.

The chart below gives a breakdown by bedroom count.

If you are thinking of selling your South Barrington home this year - attention to pricing is still key as is exposure of your home on the internet so as many buyers and the Realtors can find your property. Call me if you would like your home featured on blogs, web sites in addition to traditional advertising.