The John Herman Team is pleased to release the latest results for the December 2013 real estate
performance review in Barrington Hills, Illinois. The real estate in Barrington Hills showed a
mixture of results for December, which may be reflective of the Holiday season, as it doesn’t mimic the
overall strong market seen in other areas.
For instance, while most areas are showing an increase in home prices, statistics for Barrington Hills properties shows that in December 2011 the median price was $1,195,000, in December 2912 it was $1,530,000, but that in December 2013 that figure dropped to $500000. This is most likely reflective of the specific homes that sold, rather than to indicate an overall downturn in prices.
The number of months of inventory was up and down since December 2011 when there were 31.1
months supply. In December 2012 there was a 14.5 month supply of homes. In December 2013 there
was a 17.1 month supply of homes available, an 18.3% increase.
There were 6 new listings added to inventory in December 2013, 5 were added in December 2012 and
10 in 2011.
Days on the market, showed a vast improvement though! In December 2011 the average days on the
market was 547. In 2012 that figure grew to 607 days on the market. But in December 2013 homes
were on the market an average of 236 days, a 61.1% decrease from the previous year.
Home sales were about even with the previous year’s figures. In December 2012 there were 82 homes
sold and in December 2013 there were 87 homes sold, a 6.1% increase.
It appears that while there is a trend for improvement in home sales with shorter market times and
higher prices that the high-end inventory of Barrington Hills may still have some catching up to do.