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South Barrington Real Estate - 2011 Year End Review

January 18th 2012 already! This month is flying by so I must get the remaining market reports done for 2012. Today we'll review South Barrington real estate sales during the last year. In case you are a first time reader or not a local, South Barrington real estate is known for it's luxury homes in the zip code 60010. South Barrington real estate has suffered alongside the rest of the zip code. Values have fallen, sales have slowed and while not a majority of the market, we have not been immune to short sales and foreclosures.

South Barrington Real Estate Market Report-Absorption Rate

This chart has a few tales to tell. The difference in South Barrington real estate sales between the two halves of the year is astounding. In the first 6 months there were only 9 sales. The second half had 37. Thankfully the last 6 months had a more balanced sales activity. In 2012 we have 10 South Barrington homes under contract so sales in the first half of this year should be better.

Our absorption rate shows we are still in a buyers market with about 9 months of supply. A small increase in list to sales ratio was seen but we really need to pull this up a little to 95%. If listing your South Barrington home in 2012, your average days on market hovers around 200 days. Ask me to make suggestions on how to beat that number. Corinne: 847-363-3686

Welcome, if you found this post then the chances are you will be relocating to South Barrington sometime in the not too distant future, or South Barrington is one area you are considering for your new home. As relocation specialists we are glad you found us. It doesn't matter whether you are coming thousands of miles, or from another suburban city closeby, packing up and moving is no easy task and our goal is to make the process less stressful.

You might wonder why we love helping relocating families. If you read our bio hopefully all will become clear! If not I think it's a simple as using real life experiences to help my clients have a better experience. I make no bones about it, I consider myself far more experienced that other South Barrington Realtors. Why? Because I have the unique hands on experience of moving myself both nationally and internationally and more than once. I know it's far more than just a property move. There are families involved, kids, pets, new jobs, schools to be organized, and so much more.

South Barrington is a choice many luxury home buyers make. It's close to I-90 so if you need to commute to downtown Chicago you'll be on the expressway within minutes. There are also lots of major hospitals near to I-90, for Doctors and Physicians this makes the travel to work relatively easy. Sherman Hospital in Elgin, St Alexius Hospital in Hoffman Estates and Advocate Hospitals are all easily reached from South Barrington.

Homes are typically on 1 to 2 acre lots. You'll find waterfront properties in South Barrington, an Active Adult Community, several gated communities and undoubtedly the most luxurious homes in the Barrington market, aside from a few in Barrington Hills. We've got all the South Barrington real estate listings by price range for you to browse. You can look at the newest listings, even find out what homes recently sold. If a relocation to South Barrington is in your future, sign up for our Relocation Success Program and become a priority client, no strings attached, nothing to sign, we would just love to work with you.

South Barrington IL current has 97 homes for sale, all of them being single family homes. We are half way through the year and so I am curious. Is South Barrington doing better this year than last. I have already reported on the upper quartile for South Barrington now lets look at the whole picture as most homes fall well below some of these high priced homes.

The range of prices for South Barrington IL Homes for Sale is from $399,999 to $5,900,000. Most of the homes fall between $700,000 and $2,000,000. The lower price homes are either The Woods of South Barrington Active Adult homes or distressed and older/smaller homes.

In fact I have decided to compare this year to both 2009 and 2010 to give us a much broader idea of whats happening. The chart below shows sales by month through January 2009 to June 2011. Blue is 2009, red is 2010 and green is 2011.

South Barrington IL Homes Sold

In 2009 there were 37 home sold, about 3 every month. In 2010 it jumped to 49, just over 4 a month. That's a 25% increase in sales. The median sales point on 2009 from those sales was about $933,000, in 2010 it was $861,000, so more sales but a lower middle point.

Whoa what happened!! In 2011 so far we have only had 9 sales. Does that mean we are barely going to make 18 to 20 this year?

I hope not, things don't look good - keep reading, there is good news ahead! .

The median price has risen a little from last year to $882,000.

Here is the good news. As of today July 12th, there are 19 South Barrington homes under contract, yes 19. If they all closed later this month or in August, it will get is back on track with 28 in the first 8 months of the year. So if you are thinking of selling your South Barrington home, I think we just got a late start, who knows maybe it was the late start to summer.

I hope you found this report interesting, I know I did as I did the statistics. You can find all sorts of "How's The Market" data and reports on this site and blog, but if you have a specific question, I'll do my very best to answer, just remember I don't have a crystal ball!

For now enjoy the summer months whether doing yard work, with your kids on holiday from school or going on a vacation, we all need some R & R. I'll be back in a couple of months looking at South Barrington again.

Oh if you want to look at homes for sale in South Barrington, they are listed on my site.

Corinne Guest
Real Estate in Barrington
Royal Advocate Realty
Info@CorinneGuest.com
(847) 363-3686

Copyright Corinne Guest June 2011 *South Barrington IL Homes For Sale - Market Report*

South Barrington Homes - A Taste of Northern Illinois Luxury Real Estate

Northern Illinois is home to some very nice communities that have luxury properties for buyers, located both in the city of Chicago and also the suburbs. The north shore area, north of Chicago, is home to communities that have been around for a long time and the homes there are often older and on typical sized lots of quarter to half an acre. They are very beautiful and if you like architectural offerings this might be the place to look for your next luxury Illinois home. If on the other hand more open green space with one to two acre lots is more your style, South Barrington homes might offer just what you are looking for in a luxury home and they are younger too. South Barrington homes are close to I-90 so if you need to commute to the city of Chicago for business or pleasure you can access the tollway within just a few minutes. This also makes it quick if you have to fly for business as South Barrington of all the Barrington villages is the closest to O'Hare airport.

South Barrington Home Styles

I would class homes in South Barrington as being primarily traditional styles. You'll see Georgian, Tudor, and even Contemporary but the bulk of the houses are going to be brick, stone and cedar siding with asphalt or cedar shake roofs. As for size, well prepare to see a wide variation. With prices starting as low as $450,000 and topping out at $6,900,000, I can find you a home with 2,250 square feet to as much as 13,000 square feet. The older homes were built in the early 1970's and as time has passed the houses have grown in square footage, features, amenities, and of course stature. Although South Barrington was incorporated in 1960 there were homes built before then but few of them remain today, having been torn down and new subdivisions built.

Active Adult Community Homes in South Barrington

Toll Brothers brought the only Active Adult living community there is to this village, and in keeping with South Barrington's luxury homes inventory, they are of course very attractive, offer up a modest 2200 to 2500 square feet of single level living with basements and have the features you would expect in any luxury home. Luxury gourmet kitchens, with granite counter tops and kitchen islands, ceramic tiles, scraped hickory wood floors, extensive crown molding and more. Of course there is the added bonuses of being in a gated community and having a 7,000 square foot club house with pool and more to keep you occupied year round.

The Gated Communities of South Barrington

Not everyone needs or wants a gated community but if you do, South Barrington's choice is expanding. Our original gated community was The Glen. Although homes here are now 20 years old there are some younger and even today a few of the lots are just now being developed. The Glen can be affordable with prices under $1 million but also has some of the higher priced larger luxurious living on Lake Adalyn, for glorious views, swimming and non powered boating. The jewel of South Barrington is now Hidden Lakes. If you can imagine it, you'll find it here. One of South Barrington's newest subdivisions it is home to select properties in a beautiful landscaped subdivision with of course, lakes! Nathan's Glen is another new gated subdivision but construction has slowed while the economy recovers. If a smaller neighborhood is what you want, take a look at Nathan's Glen.

Magnolia Pointe is another of South Barrington's top luxury homes destination subdivisions, but unlike Hidden Lakes it is not gated.

More on Toll Brothers in South Barrington

In addition to the Active Adult Community Toll Brothers have built, right next doors is The Woods of South Barrington, their single family luxury homes subdivision. Homes are very typical Toll Brothers styling and properties here are located on smaller lots. They have just started construction in the last phase, just north of Penny Road so if you want to buy new this is certainly a good option for you.

I hope this article has given you a little insight into the luxury South Barrington has to offer in the luxury home market in Northern Illinois. Browse South Barrington real estate listings for sale by price range or continue to learn more about the village and the real estate that South Barrington offers.

South Barrington Homes $300,000 to $500,000

South Barrington Homes $500,000 to $750,000

South Barrington Homes $750,000 to $1 Million

South Barrington Homes $1 Million to $3 Million

South Barrington Homes over $3 Million

Sign up for your South Barrington property organizer and start saving your favorite homes today.

Contact:

Corinne Guest

Real Estate in Barrington

Royal Advocate Realty

Info@CorinneGuest.com

(847) 363-3686

Copyright 2011 Corinne Guest All Rights Reserved - Originally posted at Real Estate in Barrington - Blog