The John Herman Team has reviewed the real estate statistics for the past 12 months for Barrington Hills, Illinois homes and the numbers show that market recovery is not as brisk in every category in Barrington Hills as some of the other surrounding communities, but that prices are on the increase, which is a very positive and important statistic.
In 2011 the average price of a house in Barrington Hills was $650000, in 2012 that dropped to $615,000, but in $2013 the number was at $660000, even better than in 2011. This is a 7.3% increase. Overall closed sales were down however, as 2012 showed a spike in sales with 66, a 61% improvement over 2011 when just 41 sales were reported. In 2013 there were 51 sales, an increase over 2011 but a 22.7% decrease from 2012.
The number of homes has remained primarily steady over the past 3 years with 118 on the average in 2011, 103 in 2012 and 102 in 2013. Time on the market seemed to lengthen in 2013, as the highest yet over the past 3 years. In 2011 the average length of time om the market was 348 days. Things picked up in 2012 with average time on the market at 261 days, but in 2013 the days on market increased to 467 days, a 78.9% increase.
The month of supply was steady with 2012, with 22.4 months supply available. This is down though from 2011 when there was a supply of 37.5 months, so this does show improvement. New listings also were unchanged for the most part, with very little fluctuation in the 3 year period. In 2011, 158 new homes were added to the market, in 2012 148 homes were added, and in 2013 there were 164 homes put into inventory. This was a 10.8% increase in Barrington Hills houses.