The John Herman Team is pleased to release the latest results for the December 2013 real estate
performance review in Barrington, Illinois. The overall statistics show a continued trend of market
health in Barrington properties.
Good news for sellers is that homes are selling quicker in terms of overall days on the market over
December 2012. A year ago the average time on the market for attached homes was 108 days, and in
December 2013 properties sold in an average of 91 days. Improvement was even greater with detached
homes. In December 2012 homes were on the market an average of 145 days, and in December 2013,
just 94 days, a 35.3% decrease.
Hand-in-hand with this statistic, the supply of homes in terms of months of supply is also down in both
attached and detached homed. In December 2011 there was over 2 years of supply of attached homes.
A huge decrease of 81.5% showed enormous improvement in 2012, down to a 4.9 months of supply.
However, In December 2013 there was just a 3 month supply of attached homes, a 39.2% decrease.
The months supply of detached homes also shows improvement over 3 years: In December 2011 there
was a 9.6 month supply, in December 2012 a 43.9% improvement to 5.4 month supply and in December
2013 there was a 4 month supply, a 25% decrease.
There were also less homes available, in a trend which has dropped incrementally since 2011. In
attached homes in December 2011 there were 33 available. In December 2012 there were 16 available,
and in 2013 just 11 attached homes in Barrington, a 31.3% decrease.
For detached homes in December 2011 there were 146 available, December 2012 there were 103, and
in December 2013 there were a 92, a 10.7% decrease from the previous year.
Reacting to this brisk market, sellers listed more properties than a year ago as well. In attached homes
in 2012 1 was listed, while in 2013 2 were listed. In detached homes a more significant increase was
shown. In 2012 9 homes were listed, however, in December 2013 17 homes were listed, a 88.9%
Attached home sales were slightly down from a year ago, with 4 being sold in December 2012 and 2
being sold in December 2013. For detached homes, however, there was an 80% increase in sales. In
December 2012 10 homes were sold, while in December 2013 18 were sold.
Sales prices are also on the increase, although they have not caught up to the level of 2 years ago. In
December 2011, the median price of attached homes was $254,500. In December 2012 this slumped
42.2% to 147,000, while in December 2013 there was a spike again to $177,000, a 20.4% increase from
In detached homes in Barrington the market seems to be catching up more quickly. In December 2011 the median price was $386250. In 2012, there was a drop to 284,377, a 29% decrease. In December 2013 the
median price was $352,500, a 28.5% increase.This all translates into good news for sellers who are finding that their homes are selling more quickly than a year ago and for more money.