This December Port Barrington, IL had half the amount of market time as last years
(PRWEB) January 13, 2013
Homes for sale in Port Barrington during the month of December 2012 decreased in, monthly supply, closed sales, and median sales price. Condos in Port Barrington and townhomes in Port Barrington are not currently listing. The listings for this month of Port Barrington homes are 2 detached single-family REO’s. Port Barrington has a median sales price of $44,000 for the month of December 2012 because of only having two listings. However, in December 2010 the median price for homes for sale in Port Barrington was $231,000 with one REO averaging a median price of $205,398. Properties in this area for December 2012 have a lower monthly supply of homes averaging around 7.9 months.
This is a big difference when considering this time last year Port Barrington was at 10.7 months supply of inventory. In December 2010, the average months supply of inventory was even lower than it is now at 6.7 months. When viewing the supply of monthly inventory for each year over the last three years, December is traditionally a slower month. Market time for homes for sale in Port Barrington have decreased while following the lowering of median pricing, and ensuring less inventory with the low average of only 2 listings per month. December 2012 had a property market time of 105 days with its REO that sold at $44,000. This December had half the amount of market time as last years, with its record for closed sales in Port Barrington December 2010 at 259 days on market. On an average decline Port Barrington homes market time for traditional, REO, and short sales decrease 20% each year, and has been for the past 3 years. The number of closed sales for December 2011 were zero while December 2010 had 3 traditional and 1 REO. The total homes for sale this month are 12 traditional properties and 3 REO. Over the last three years, the average total homes for sale in Port Barrington have maintained a consistent average of 15 properties.
Contact John Herman Team for more information on Homes for Sale in Barrington and Chicago Land Area. Call 847-847-4711 or visit http://www.barringtonhomesforsale.com