Barrington IL Real Estate : Illinois: North Barrington: Wynstone

Why Are There So Many Homes For Sale In Wynstone North Barrington?

Wynstone of North Barrington is a gated community of homes situated on a golf course. There are about 400 homes most of them single family, with a few lots remaining to be built. As I write this post there are 60 single family homes available for sale, 2 half duplexes, 7 vacant lots and  8 homes for rent. Taking the homes for sale of 62 that amounts to about 15% of the homes in Wynstone on the market. So why are there so many?

Do I have a specific answer for you? No. So lets look at some of the data.

Home prices range from $575,000 to $3,800,000
Association fees thate prices ranges from $450 to $923 per month
Real estate taxes range from approx $14,000 to $43,000 per year.

Homes available for sale today-June 8th 2010 - 62
Median price of these 62 homes is $1,100,000
Homes sold in last 6 months - 1
    Sale price $717,000
Homes sold in last 12 months - 9
    Sales prices $575,000 to $1,025,000
        Sales types were all re-sale with 1 short sale.
Homes currently under contract - 2
        One home priced at $749,000
        One home priced at $1,425,000

You can browse the available homes in Wynstone right here or for my opinion keep reading.



Clearly it is the lower priced homes that will sell. i.e. those below the median price range.
The average marketing tim for the 9 sales over the last 12 months was  459 days. That is very close to double the average marketing time for all of 60010 which is currently 258 days.
The average list time for the 62 homes on the market is 507 days.

So what's up with Wynstone Homes?

My opinion is that the association fees may be pricing some buyers out of the market. Our real estate taxes have not adjusted for the value of homes in Lake County which will affect all homes. With a median price of $1,100,000, which means 31 of the homes are above that price, we are looking at a luxury market. Luxury markets are not typically affected by the economy as much as other price points but then there will always be less buyers of luxury homes. There are a lot of luxury homes for sale in North Barrington, South Barrington and Barrington Hills so competition is tough. Why? Well for a start there are a lot of newly built homes that were being built at the peak of 2005 and 2006 which still have not sold. Some of these have been foreclosed on.

Are there any underlying secrets? Not that I am aware of . I still get a lot of people searching for  Wynstone homes on my Barrington Web Site. So it must be the cost. If you are in the market to buy in Wynstone or any of our beautiful Barrington Villages, I am here to help and the choice is wide.

Copyright 2010 Corinne Guest All Rights Reserved  - * Why Are There So Many Homes For Sale In Wynstone North Barrington? *

Wynstone Homes are part of the Gated Community and Golf Course known as Wynstone and is situated in North Barrington Illinois

At the time of writing there are 57 homes for sale in Wynstone North Barrington. Prices start at $575,000 and go up to $4,200,000

• There are 5 three bedroom homes, 27 four bedroom homes and 25 homes have five bedrooms or more.

• There are 2 attached homes for sale with prices of $575,000 and $695,000. These 2 homes are 3 bedroom duplexes on Clubhouse Drive.

• There are 9 available homes for rent in Wynstone with monthly rental amounts from $3,500 to $8,000.

In the last 12 months there have been 15 sales of Wynstone real estate with an average sale price of $913,827. 3 bedroom homes sold for an average of $600,000 and represented 83% of the final list price. 4 bedroom homes sold for an average of $1,039,000 which represented an average of 90% of the final list price. These percentages are low for the Barrington area which still has average list to sales price ratios of the mid 90%'s.

The average market time for detached homes was 414 days, well above Barrington's average, and for attached 793 days.

Residents of Wynstone Real Estate benefit from the Gated entryway of the community, and children attend Lake Zurich district 95 schools.

View all the available homes in Wynstone Real Estate in Wynstone Gated Community and Golf Course in North Barrington Illinois.