Barrington IL Area Real Estate Market Report - Mar. 2007

Barrington IL homes average a 4.68% increase in selling price for March of 2007 compared to March of 2006 according to information provided from the MLS of Northern Illinois.

Some notes before continuing: This is an overall analysis of Area 10 (60010 zip code) of detached homes from the local MLS and includes a pretty large area including the Villages of Barrington, Barrington Hills Real Estate, North Barrington, South Barrington Homes and Deer Park. The area is over 70 square miles and is approximately 35 miles from the Chicago loop. The report is an analysis of the overall Barrington area and obviously it should be noted that this is a report of actual homes that closed in March of 2007 in comparison to Barrington homes that closed in March of 2006. There are several, several segments within the Barrington area and this report is a general overview of the areas described above.

In March of 2006 there were 45 detached homes in the Barrington area that closed escrow for an average price of $638,163. For March of 2007, 34 Barrington area homes sold (a 32.35% decline in sales) at an average price of $668,020 or a 4.68% increase. Characteristics of the homes remained pretty consistent with homes sold in March of 2006 averaging a total of 10 rooms with 4 bedrooms and homes sold in March of 2007 averaging 9 rooms with 4 bedrooms.

The highest selling price for a Barrington area home in March of 2006 was $1,600,000 and the highest selling price in March of 2007 was $1,200,000.

The average list to sales price ratio in March of 2006 was 91.12% and in March of 2007 it was 88.11%. Details of the report emphasize the importance of properly pricing your Barrington area real estate for sale properly to begin with and some details of this can be found @ at our Barrington Area Real Estate site under our blog including one Barrington home that was listed for over a year (not by us!) and finally sold in March of 2007 with a List to sales ratio of 68.66%.

For a more detailed analysis, please visit our Barrington real estate website.

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