All of these figures are good indicators that the housing market is improving.
(PRWEB) March 05, 2013
There was an increase over last year’s figures in the number of Barrington homes sold for the month of February 2013. The number of closed sales for detached homes for February 2013 was 16 sales, which is a 33.3% increase over February 2012’s figure of 12 sales.There were no closed sales for attached homes in February 2012, but there was 1 successful closed sale for the month of February 2013. The area also saw an increase in the median sales price for detached homes, as the price for rose from $442,500 in February 2012 to $457,500 for February 2013. The median price for attached homes for February 2012 was $260,000. The number of days detached homes remained on the market decreased by 3.3% dropping from 143 days in February 2012 to 138 days in February 2013. The market time for attached homes was 139 days, but cannot be compared to the preceding year because no homes were sold in February 2012.
All of these figures are good indicators that the housing market is improving. However, the number of homes, townhomes and condos in Barrington that are for sale saw a significant decrease from last year’s figures. The number of attached homes for sale dropped from 32 homes in February 2012 to 15 homes in February 2013, and the number of detached homes fell from 145 homes in February 2012 to 86 homes in February 2013. The month’s supply of inventory also declined in February 2013 for both attached and detached homes. Attached homes saw a 78.4% decrease in the month’s supply of inventory, as the number dropped from 20.4 homes in February 2012 to 4.4 homes in February 2013. The months supply of inventory for detached homes fell from 9.1 homes in February 2012 to 4.2 homes in February 2013. The number of new listing for attached homes, condos and townhomes in Barrington dropped slightly from 5 new listings in February 2012 to 4 new listings in February 2013, and the number of new listings for detached homes in the areas stayed constant at 30 new listings for both February 2012 and February 2013.
Welcoming his 12th year of Real Estate experience, John Herman effectively turns buyers into owners, and closes listings successfully with Barrington Real Estate, Illinois. Clients are quickly referred to as guests in his home market, welcoming everyone to his performance standards uniquely separating him from the competition. Johns diligent work with clients earned him a 2011 Five Star Professional Award. As a daily hard working Realtor, John has made it in the top 7% of Real Estate agents granted this award. With his Masters Degree, John is also certified in Foreclosure and Short Sale transactions along with certification as an Accredited Home Buyer Representative. John and his team are localized experts with over 20 years of real estate experience within the beautiful area of Chicago. John Herman controls the necessary actions to position the right inspector, plumber, or resourceful help needed to close every deal properly.