The market time for homes sold had a dramatic increase, as the number of days homes remained on the market rose from 72 days in July 2012 to 170 days in July 2013.
(PRWEB) August 22, 2013
The John Herman Team is pleased to release the latest real estate performance review results for homes in Port Barrington for July 2013. The latest data shows that there was a significant increase this month in the number of closed sales for homes in this community.
The month of July 2013 showed a 300% increase in the number of closed sale of homes for sale in Port Barrington. The number of closed sales rose from 1 closed sale in July 2011 to 4 closed sales in July 2012. The median sales price, on the other hand, showed a slight decrease of 7% in the median sales price for the homes sold. The median sales price dropped from $305,000 in July 2012 to $281,000 in July 2013.
The number of homes for sale in Port Barrington fell this month by more than 56%. In fact, the number of homes for sale has fallen for the last three years in a row, as the figure dropped from 30 homes in July 2011 to 23 homes in July 2012 to 10 homes in July 2013. The Illinois real estate performance results showed a decrease in the number of new listings this month, as the number fell from 5 new listings in July 2012 to 3 new listings in July 2013.
Furthermore, the results revealed a 70% decline in the month’s supply of inventory for Port Barrington homes for sale. The month’s supply of inventory has fallen over the past three years, decreasing from 16.9 homes in July 2011 to 11.5 homes in July 2012 to 3.2 homes in July 2013. The market time for homes sold had a dramatic increase as the number of days homes remained on the market rose from 72 days in July 2012 to 170 days in July 2013.
About John Herman:
John Herman, Hometown Real Estate is considered the Best Barrington real estate broker who serves the entire city of Barrington and its surrounding areas. He has more than twelve years of experience in the local real estate market and is dedicated to providing his clients with exceptional services that assist them in obtaining the right home, for the right price. He holds a Master’s Degree, as well as, an Accredited Buyer Representative Certification, a Short Sale Foreclosure Resource Certification, and is an Equator Short Sale Certified Platinum Member. His decade long commitment to providing each customer with individualized and prompt customer services has earned him the Five Star Professional Award for the past three years. In fact, his customer service ratings were so high, that John Herman has been ranked among the top 2% of real estate agents in the Greater Chicago Area. This distinguished honor speaks volumes about his strong commitment to his clients and his dedication to providing optimal services.