Real Estate in Barrington & The Northwest Suburbs: Lake Barrington Illinois 2010 Year End Real Estate Market Report-Comparing Sales to 2009

Lake Barrington Illinois 2010 Year End Real Estate Market Report-Comparing Sales to 2009

If you want to live in the countryside in the Barrington area, consider Lake Barrington, view more about our village and all the subdivisions. Most homes are on acre or more lots and there are trees and preservation areas as well. It's just, well, like living in a "green and pleasant land".

So how did real estate fair in 2010 compared to 2009 in Lake Barrington.

Let's look at 2009 first.

There were a total of 16 sales with closed prices from $300,000 to $865,000

The median price sold was $560,000

The average sales price was $639,613

The average marketing time was 150 days

The list to sales price ratio of all the homes sold was an average of 92% of final list price. 

The list to sales price ratio of all the homes sold was an average of 67% of the original list price.

(This was due to over-pricing homes in the 4 bedroom category.)

If you are in the market to buy, view all the current listings for Lake Barrington in one place.

Now let's see how Lake Barrington real estate sales compared in 2010, it might give us a little insight into what to expect this year, 2011.

There were a total of 25 sales with closed prices from $250,000 to $1,040,000

The median price sold was $535,000

The average sales price was $530,078

The average marketing time was 311 days

The list to sales price ratio of all the homes sold was an average of 93% of final list price. 

The list to sales price ratio of all the homes sold was an average of 84% of the original list price.

(Some of 2010 sales were closings from 2009-those over-priced homes contributed to the longer marketing time here)

What are the changes in the Lake Barrington  real estate market from 2009 to 2010?

Sales are up by 56% - A huge increase and likely due to final pricing on those over priced 4 bedroom homes in 2009.

Market times were up by 51% -  no doubt this was an adjustment for the over-priced homes.

Prices not declining too much on average. - Pricing is key to selling.

If you are in the market to sell your Lake Barrington single family home, my website attracts buyers from all over the USA, many relocating families are looking online for your home. Remember that your home in Lake Barrington will compete with other comparable homes in all of 60010.