There was an improvement of over 75% in the market time for homes, townhomes, and condos in South Barrington.
(PRWEB) May 07, 2013
There was a dramatic increase of over 75 percent in the median sales price for homes, condos and townhomes in South Barrington for April 2013. The median sales price rose from $420,000 in April 2012 to $738,500 for the month of April 2013. This increase brings the median sales price fairly close to April 2011’s figure of $802,000. After an increase last year in the number of closed sales in the area as the number rose from three closed sales in April 2012 to five closed sales in April 2013, the number fell this year to two closed sales for the month of April 2013. There was decrease for the third straight year in the number of homes for sale in the area. The number of homes for sale in South Barrington dropped from 88 homes for sale in April 2011 to 65 homes in April 2012 to this month’s total of 52 homes for sale in April 2013. However, there was an increase of 66.7% in the number of new listings for the area.
The number of new listings rose from 12 new listings in April 2012 to 20 new listings for April 2013. The month also showed a decrease in the month’s supply of inventory for April 2013. The month’s supply of inventory has actually fallen for the last three years dropping from 21.4 homes in April 2011 to 12.8 homes for April 2012 to finally 11.3 homes for the month of April 2013. There was an improvement of over 75% in the market time for homes, townhomes, and condos in South Barrington. The number of days homes in the area remained on the market declined from 191 days in April 2012 to just 23 days for the month of April 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. John's 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 percent of real estate agents granted this award. With his Master's 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.