The 12 months Rolling Real Estate Performance Reviews for North Barrington, Illinois by The John Herman Team

The John Herman Team is pleased to report a measured improvement in the real estate pulse in North Barrington, Illinois homes over the past year, compared with 2011 and 2012.

There have been increases in price and sales, decreases in times on market and overall the health of the market continues to improve, according to the John Herman team. Number of detached single-family homes sold has increased steadily from 2011 through 2013. There were 45 homes sold in 2011, 50 in 2012, and 62 in 2013, for a 24% increase over last year.

At the same time, the number of homes available has steadily decreased with an average of 77 on the market in 2011, 66 on the market in 2012 and 49 on the market in 2013. This is 25.8% less homes on the market per average over last year. Days on the market for 2013 was down from 2012, but up from 2011. In 2011 the average days on the market was 288, it popped up to 401 in 2012, but dropped slightly to 383 in 2013. This is a 4.4% decrease in time on the market.

Prices of homes improved some as well from 2012 to 2013. In 2012 the average home price was $541,250, while in 2013 it was $560,000, a 3.5% increase. In 2011 the average price was $624,999.Another sign of a brisk market is the inventory as measured by months of supply. In 2011 there was a 20.7 month supply of homes in North Barrington. In 2012 there was a 16.7 month supply and in 2013 that figure plummeted to a 9.9 month supply, a 41.1% decrease.

There were 113 new listings taken in North Barrington houses in 2013, while 94 new properties were listed in 2912, and 121 in 2011. This is a 20.2% increase from 2012 to 2013.The movement of attached single-family homes was stagnant in 2013 with no report of any sold or listed.

November 2013 Real Estate Performance Review for North Barrington by the John Herman Team

The John Herman Team is pleased to release the latest results for the November 2013 real estate performance review in North Barrington,IL homes and the report shows that prices are on the rise.According to the latest report the median price of a home in North Barrington was up 64.7% from a year ago. In November 2012 the average price was $525,000 and in November 2013 it was reported at $864,500. That is a significant increase and good news for sellers.

Another indication of a strong market is the number of homes in North Barrington on the market. In November 2013 there were 40 homes on the market, and in November 2012 there were 54. This is a 25.9% decrease. Fewer inventories means more demand, another sign of strength, and a good time to sell.Another supporting statistic for strong demand is that there is currently just a 7.5 month supply of homes on the market, versus last year when there was 11.6 month supply. This is a 35.2% decrease. More inventories is needed and this holds true in that listings were slightly down for the same period a year ago when 5 new listings hit the market, and in November 2013 there were 4 homes, a 20% decrease.

Coincidentally there were also 5 homes sold in November 2012 and 4 homes sold in November 2013, which matches the number of homes listed. Length of time on the market was almost flat, with a 2.5% increase. Average time on the market in November 2012 was 711 days, and in November 2013 it was 728 days.The overall analysis of these numbers indicates that it is a good time to sell and that buyers need to be ready to strike if they see a home they like in North Barrington properties.

November 2013 Real Estate Performance Review for North Barrington by The John Herman Team

The John Herman Team is pleased to release the latest results for the November 2013 real estate performance review in North Barrington houses, and the report shows that prices are on the rise.

According to the latest report the median price of a home in North Barrington was up 64.7% from a year ago. In November 2012 the average price was $525,000 and in November 2013 it was reported at $864,500. That is a significant increase and good news for sellers.Another indication of a strong market is the number of homes on the market. In November 2013 there were 40 homes on the market, and in November 2012 there were 54. This is a 25.9% decrease. Fewer inventories mean more demand, another sign of strength, and a good time to sell.

Another supporting statistic for strong demand is that there is currently just a 7.5 month supply of homes on the market, versus last year when there was 11.6 month supply. This is a 35.2% decrease. More inventories is needed and this holds true in that listings were slightly down for the same period a year ago when 5 new listings hit the market, and in November 2013 there were 4 homes, a 20% decrease.
Coincidentally there were also 5 homes sold in November 2012 and 4 homes sold in November 2013, which matches the number of homes listed.

Length of time on the market was almost flat, with a 2.5% increase. Average time on the market in November 2012 was 711 days, and in November 2013 it was 728 days.The overall analysis of these numbers indicates that it is a good time to sell and that buyers need to be ready to strike if they see a home in North Barrington they like.