The number of closed sales on homes, townhomes, and condos in Port Barrington remained steady at 1 closed sale for February 2011, February 2012 and February 2013.
(PRWEB) March 11, 2013
There was a dramatic increase in the median sales price for homes, condos, and townhomes in Port Barrington, as the median sales price rose from $67,000 in February 2012 to $263,500 in February 2013. This significant increase may be due to the small number of closed sales for the month. However, this is especially good news considering the number of home for sale in the area dropped for the third straight year falling from 21 homes in February 2011 to 20 homes in February 2012 to finally decreasing by 40% to 12 homes for February 2013. The number of new listings for Port Barrington homes for sale also declined for the third straight year, as this number went from 8 new listings in February 2011 to 4 new listings for February 2012 to this year’s total of 3 new listings for February 2013. The month’s supply of inventory of homes for sale in the area also dropped by 46% falling from 10.6 homes in February 2012 to 5.7 homes in February 2013. Although there was a dramatic increase last year in the number of days homes remained on the market, as the market time increased from 103 days in February 2011 to 710 days in February 2012, this year’s market time of 9 days for the month of February 2013 is a sharp improvement even over the February 2011’s figure. The number of closed sales on homes, townhomes, and condos in Port Barrington remained steady at 1 closed sale for February 2011, February 2012 and February 2013. The fact that this month’s closed sale came in at a sales price significantly higher than last years, along with the fact that the home sold so quickly is a good indicator that the market is improving.
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.