. In fact the month’s supply of inventory has fallen for the past three years, as the number dropped from 14.4 homes in April 2011 to 10.1 homes in April 2012 to finally 8.6 homes in April 2013.
(PRWEB) May 09, 2013
There was a significant increase of 13% in the median sales price for homes, condos, and townhomes in Port Barrington for the third straight year. The median sales price rose from $182,500 in April 2011 to $186,000 in April 2012 and then increased again this year to $210,156 for April 2013. After a slight drop in the number of closed sales in the area, as the number fell from 2 closed sales in April 2011 to 1 closed sale in April 2012, the number remained constant this year at 1 closed sale for April 2013. There was, however, a slight decrease of 5.3% in the number of homes for sale, as the number fell from 26 homes for sale in April 2011 to 19 homes for sale in April 2012, and then down again to 18 homes for sale in Port Barrington for April 2013.
There was also a decrease in the number of new listings for homes for sale in the area. The number of new listings fell from 5 new listings in April 2011 to 4 new listings in April 2012 to only 1 new listings this April 2013. The decrease in the number of homes for sale, as well as, the number of new listings, caused a decline in the month’s supply of inventory for homes for sale. In fact the month’s supply of inventory has fallen for the past three years, as the number dropped from 14.4 homes in April 2011 to 10.1 homes in April 2012 to finally 8.6 homes in April 2013. There was good news in the market time for homes, townhomes, and condos in Port Barrington. After seeing a dramatic increase of 46.6% in the market time, as the number of days homes remained on the market increase from 118 days in April 2011 to 173 days in April 2012, this year saw an improvement of 91.3%, as the number of days homes stayed on the market decreased to just 15 days for 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. 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.