(PRWEB) January 14, 2013
North Barrington homes are within a beautiful boundary of golf clubs that are well valued, averaging 3 new listings a month during December 2012. The listings appear better this month having 2 traditional listings and one short sale, compared to the last two years averaging 2 REO’s during the month of December. Number of homes for sale in North Barrington are low due to the pristine village only having a 5 mile diameter.
Condos in North Barrington are scarce because of a slow 10% increase in population every 10 years, estimating a low total population of only 3,300 residents in North Barrington.
For the month of December 2012, North Barrington homes had one traditional sale and one REO with zero short sales. In the last three years for the month of December, no condos in North Barrington and no townhomes in North Barrington have sold. The average of number detached single-family properties closed for North Barrington during this month is two. The two properties closed included a traditional sale and one REO. The previous year for December had two sales as well, however both of which were traditional closed sales. Average market time for sales in North Barrington during this month were three times longer than the previous three years due to low inventory and comparables. December 2011 properties had the market time of 211 days for detached single-family units while this month sale was on the market for 956 days.
The traditional median sales price for homes for sale in North Barrington dropped 15% from December 2011 of $980,000, to this month median of traditional sales averaging $830,000. The median sales price of REO activity is $603,000 in North Barrington December 2012 with no past REO activity for the last two years. Since there was no short sale in North Barrington this year, or the past three years, there is no median price for short sales of condos, townhomes or single-family properties in North Barrington.