Real Estate in Barrington & The Northwest Suburbs: Lake Barrington Shores - 3rd Quarter Market Report; Ticking Along.

It's high time I published the third quarterly report for Lake Barrington Shores. We are more than half way through October and if I don't get it done today I might miss it completely. So here goes.

Let's first take a look at rentals. If you recall last quarter I mentioned that rentals in Lake Barrington Shores were hot properties. At the time of writing last quarters end there were only 2 available. As of today there are now 10 available. That's still under average but at least there is a little more choice.

Now for sales. It's exciting to see more sales in this past quarter than both the first or second. The graph below is showing sales and market times for this year. Sales up, market times coming down, all is good? Maybe, maybe not.

We still have a lot of inventory to move in Lake Barrington Shores. There are 74 units available for sale, with another 6 under contract. Those that are available have a current average market time of 253 days. That's the average, so many have market times higher than that.

So what can we say for sure? Well as usual it's price and condition that are ruling our sales. Location is a given as they are all in the same complex. Waterfront units maybe more appealing but then again some buyers want the golf course, so I think it evens itself out. The lower priced units are selling faster than the higher priced units. If you are listing for sale consider this when you are pricing. Look at your direct competition and undercut them where possible.

I'll be back in January to update the graph but I expect sales may drop a little, although with 6 already under contract maybe they wont. See you in January!