Barrington Hills Real Estate Report

We had our eyes on a stunning $1,425,000 Barrington Hills home for a client ... here one day.. gone the next. There seems to have all of a sudden been a surge for homes in Barrington Hills as evidenced by our April of 2007 Barrington Hills Market Report.

According to the Multiple Listing Service of Northern Illinois (MLSNI), 4 homes in Barrington Hills closed escrow in April of 2006 for an average price of $805,625. In April of 2007, 5 homes closed escrow at an average price of $674,600... obviously a pretty big decline in the average selling price in a year over year monthly comparison but with the wide variety of Barrington Hills Real Estate for sale, it's nothing worthy enough for a fear headline in the Chicago Tribune and here is why:

Four Barrington Hills Homes (including the one we had our eye on) went into contract as either Contingent or Pending during the month of April. While the exact selling prices are not available for public knowledge at this time, the average listing price for these four homes was $1,706,249 with the lowest listed price home @ $1,425,000 and the high at $1,999,000. Keep in mind this was the average overall list price -- not the actual selling price. I would think it is pretty safe to say that the average selling price is going to be well over $1,000,000. (The average selling price for a Barrington Hills Home on the MLS for 2006 was $1,138,920.)

As of 4/30/2007, eight Barrington Hills Homes were in contract as either contingent or a pending status for an average list price of $1,448,362.

Currently, there are 68 Homes available for sale in Barrington Hills ranging in price from $550,000 to $8,000,000. (The $8,000,000 Barrington Hills estate may qualify for a little known tax deduction and we can direct you and your tax attorney to this if you are serious about purchasing.)

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