Lake Barrington Shores Real Estate - Golf Course Condos and Townhomes - January 2010 Market Report

Lake Barrington Shores Real Estate - Golf Course Condos and Townhomes - January 2010 Market Report

Activity in Lake Barrington Shores continues at a steady pace. The was only one closing in January of a unit listed at $269,900 and sold for $260,000 which represented a sale at 96% of the asking price. The seller held to their original asking price and sold the unit in 224 days.

During January 8 new condos and town homes were listed for sale in Lake Barrington Shores bringing the total available homes for sale to 49. Current prices range from $167,000 to $475,000.

During the last 6 months the average marketing time for all Lake Barrington Shores Real Estate listings has been 211 days. The average final list price to sale price ratio was 95% which is what we would expect. However the average sale to original list price ratio was 89%, sellers still had to bring prices down before they got a sale.



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Question - are there any units for sale in Lake Barrington Shores that are over-priced and how can you tell? Well if your unit has been for sale more than the average marketing time of 211 days, if your showings are slow to non existent, if you had many showings but no offers then you may well be over-priced. If you listed the unit for sale last spring, prices have fallen since then so your price if too high at that time will cewrtainly be too high now. We as Realtors know that this is a very hard pill to swallow, most of us are also home owners and have seen our own property values decline. However if you have to sell, holding your price if it is too high is not going to bring you a buyer. For a free market evaluation of your unit, feel free to call me at 847-363-3686 or visit my Barrington web site and fill out my request form on the front page.

Lake Barrington Shores Real Estate Duplex Wanted - Nicely updated 3 bedroom unit not on golf course - I have an extremely well qualified buyer waiting for a unit with 2 car garage.

This Lake Barrington Shores Real Estate Market Report will be updated in August 2010