Real Estate in Barrington & The Northwest Suburbs: North Barrington Homes-Market Report Year to Date-Dec 2010-Real Estate in Barrington

North Barrington Homes-Market Report Year to Date-Dec 2010-Real Estate in Barrington

In 2009 there were 36 sales of  North Barrington Homes. So how well are we doing in 2010, are we on target, has the median price gone down, is the marketing time more or less?

In 2009 the median sales price for North Barrington Homes was $492,500
In 2009 the average sales price was $565,415
In 2009 the average marketing time was 286 days.
In 2009 the list to sales price ratio of all the homes sold was an average of 91% of final list price.
In 2009 the list to sales price ratio of homes sold was 62% of the original list price.

The lowest sale in 2009 was $194,000 and the highest in 2009 was $1,300,000. The was North Barrington Homes only and did not include land or commercial properties.

If you are in the market to buy, search all the North Barrington Homes for sale by price range.



Now lets compare 2010 to date:

In 2010 there are 31 sales of  North Barrington Homes to date.
In 2010 the median sales price for North Barrington Homes is currently $542,000.
In 2010 the average sales price is currently $549,465
In 2010 the average marketing time is 442 days.
In 2010 the list to sales price ratio of all the homes sold is currently an average of 92% of final list price.
In 2010 the list to sales price ratio of homes sold has fallen to 53% of the original list price.

The lowest sale in 2010 to date was $165,000 and the highest was $1,300,000. The was North Barrington Homes only and did not include land or commercial properties.

This report shouts out loud the importance of pricing homes right at the very beginning. For sales in 2009 and 2010 to be selling at such low list to original sales price has such dire effects for the home sellers. It has been proven over and over, that if you over price your home to start you'll ultimately sell than less than had you listed at the right price to start with.

Open to discussion is the effect of the higher priced homes in Wynstone and the slow sales over the last 2 years. How are these contributing to North Barrington's low sales percentage? Maybe that's for a separate post.

Contact:

Corinne Guest
Real Estate in Barrington
Royal Advocate Realty
Info@CorinneGuest.com
(847) 363-3686