While this represents an increase of 71%, this month market time is still significantly better than February 2011’s market time of 585 days.
(PRWEB) March 09, 2013
There was an increase in the number of closed sales for homes, condos, and townhomes in North Barrington for the month of February 2013. The number of closed sales rose from 1 closed sales in February 2012 to 2 closed sales for February 2013. This is hopeful news, especially considering the number of homes for sale in the area fell for the third straight year. The number of homes for sale dropped from 74 homes in February 2011 to 73 homes in February 2012 to finally 48 homes in February 2013, which represents a 34.2% decrease from last year’s figures. After seeing an increase last year of over 33%, the number of new listings of homes for sale in North Barrington declined this year falling from 12 new listings in February 2012 to 5 new listings in February 2013. There was also a decrease for the third straight year in the month’s supply of inventory, as this number dropped from 22.2 homes in February 2011 to 18.7 homes in February 2012 to this year’s figure of 10.3 homes for February 2013. After a promising increase in the median sales price last year, as the number rose from $684,000 in February 2011 to $740,000 in February 2012, this year’s median sales price decrease by nearly 40% falling to $447,500. This fluctuation in median sales price may be due to the relatively small number of closed sales for the month. There was an increase in the number of days homes, townhomes, and condos in North Barrington remained on the market, as the market time fell from 173 days in February 2012 to 297 days in February 2013. While this represents an increase of 71%, this month market time is still significantly better than February 2011’s market time of 585 days.
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.