Barrington, Illinois real estate statistics September 2013

1. Barrington-area Housing
Market Report
P r u d e n t i a l V i s i o n s R e a l t y
M i c h a e l K u r o w s k i
8 4 7 . 8 0 6 . 8 3 8 5
September 2013
Key indicators in the Barrington-area real estate market were
soft during September as overall volume fell and properties
under contract also declined, signaling the start of the annual
end-of-year slow down. However, there was significant activity
in higher-priced properties with new listings outpacing sold and
under contract homes. Market time fell once again showing that
well-priced real estate attracts buyers.

2. Prudential Visions Realty
Helping Home Owners & Home Buyers
Become Savvy Consumers
Prudential Visions Realty | Michael Kurowski | 847.806.8385 | 303 East Main Barrington
Helping home owners and home buyers become savvy consumers
September 2013
Barrington market time plummets as
median sale price rises 10%
Key indicators in the Barrington-area real estate market were soft during September as overall volume fell and
properties under contract also declined, signaling the start of the annual end-of-year slow down. However,
there was significant activity in higher priced properties with new listings outpacing sold and under contract
homes. Market time fell once again showing that well-priced real estate attracts buyers.
MARKET SNAPSHOT
 Median sales price fell 1% year over year though detached housing gained 10%
 Market time declined to 107 days, down 47% since last September
 Overall volume of sold properties fell 8% to 55, down from 60 a year ago
 New listings dropped at the low end of pricing but gained in all other price ranges
 Inventory has stabilized at 8.5 months
Here is the story behind the headlines:
MEDIAN SALE PRICE: The median sales price for homes in the Barrington area declined 1% year over
year to $387,500. However, the predominant sales category of detached single family homes rose 10% from
$442,000 to $486,250. This shows the price rebound is still in its infancy, attempting to gain momentum.
CLOSED SALES: Closed sales are down 8% to 55 in a year-over-year comparison, and down from 84 the
previous month. Most sales types, price ranges and property types followed this pattern. The only area of real
estate activity breaking this trend was attached homes selling below $345,000.
Sales of detached single family
homes rose 10% year over year.
This is the predominant sales
category in Barrington.
MEDIAN SOLD PRICE
IN BARRINGTON

3. Prudential Visions Realty
Helping Home Owners & Home Buyers
Become Savvy Consumers
Prudential Visions Realty | Michael Kurowski | 847.806.8385 | 303 East Main Barrington
Helping home owners and home buyers become savvy consumers
MARKET TIME: Market time – the number of days from listing to contract date — has decreased yet again
to 107 days from 204 days in September 2012. Attached dwellings are selling on average in 113 days and
detached in 105 days. This is a 47% drop from a year ago and a decline of 67% from 325 days, recorded
during the stagnant market of 2010.
 UNDER CONTRACT: The market slowed in September as 51 properties went under contract, down
12% year over year. September also was lower than the 60 contracts the previous month and from a high
of 100 last April. The biggest fall off is in properties listed at $344,999 and below, while the biggest jump
was found in the $849,900 and above price range.
MARKET TIME IN
BARRINGTON
The last year has shown a steady
drop in market time as buyers are
seeing that the market bottom
has passed.
The spring and summer represents
heights of activity, which has fallen
off since the beginning of September.
CLOSED SALES IN
BARRINGTON

4. Prudential Visions Realty
Helping Home Owners & Home Buyers
Become Savvy Consumers
Prudential Visions Realty | Michael Kurowski | 847.806.8385 | 303 East Main Barrington
Helping home owners and home buyers become savvy consumers
 HOMES FOR SALE: There were 498 properties on the market in Barrington as of September 30th
, a
steady uptick since January 2013. The most prevalent type of real estate available is the traditional sale of
a 4-bedroom single family detached home, listed above $549,000.
 NEW HOME LISTINGS: September witnessed home owners listing their properties for a final push in
2013, realizing that the real estate market has passed its bottom and the sales environment is healthy.
There were 107 properties listed, up 35%. The only soft category was in homes priced below $345,000. In
fact, 38 homes priced above $849,900 were added to market inventory, with a median list price of
$1,111,111.
BARRINGTON HOMES FOR SALE
The number of homes for sale is on a
steady uptick since January.
There has been a marked increase in
listings of traditional sales of detached
single family homes in Barrington, up
significantly year over year.
BARRINGTON NEW HOME
LISTINGS

5. Prudential Visions Realty
Helping Home Owners & Home Buyers
Become Savvy Consumers
Prudential Visions Realty | Michael Kurowski | 847.806.8385 | 303 East Main Barrington
Helping home owners and home buyers become savvy consumers
 INVENTORY: Inventory for the total Barrington-area real estate market stands at 8.5 month’s supply.
Inventory figures have remained greater than 8 months since February 2013, showing that the rapid
depletion of available properties has leveled out. As we’ve reported previously here is the standard
definition of a buyer’s vs. a seller’s market: buyers are favored at 7+ months and homes continue to see
downward pressure on pricing. At 5-6 months the market is “balanced” where both buyers and sellers have
equal strength. Inventory at 4 months or less favors the home seller, as buyers scramble to purchase the
few properties that are on the market. In this scenario home prices usually appreciate.
Questions about your next move in the housing market?
Contact me to help plan out your strategy. We would love to help you become a savvy
consumer.