There was a dramatic improvement in the number market time for homes, townhomes and condos in Port Barrington,as the number of days homes in the area remained on the market decreased from 397 days in May 2012 to just 12 days in May 2013.
(PRWEB) June 10, 2013
The number of closed sales for homes, condos, and townhomes in Port Barrington remained steady for the month of May 2013. The number of closed sales rose last year from no closed sales in May 2011 to 1 closed sales in May 2012, and remained at 1 closed sales for May 2013. However, the month did show a slight decrease in the median sales price for homes sold in the area, as the median sale price dropped by 7.3% falling from $165,000 in May 2012 to $153,000 in May 2013. The area also saw a decrease in the number of homes for sale in the area for the third straight year, as the number of homes for sale in Port Barrington fell from 25 homes for sale in May 2011 to 18 homes for sale in may 2012 to only 7 homes for sale this May 2013.
After seeing a slight increase in the number of new listings last years, as the number rose from 3 new listings in May 2011 to 4 new listings in May 2012, this year’s figure remained steady at 4 new listings in May 2013 for homes for sale in the area. The decrease in the number of homes for sale along with the fact that there was no increase in the number of new listings, caused there to also be a drop in the month’s supply of inventory. Actually, the month’s supply of inventory has fallen for three years in a row falling from 13.9 homes in May 2011 to 9 homes in May 2012 to 2.4 homes in May 2013. There was a dramatic improvement in the number market time for homes, townhomes and condos in Port Barrington,as the number of days homes in the area remained on the market decreased from 397 days in May 2012 to just 12 days in May 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% 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.