Barrington IL Housing Market - South Barrington

July 26th, 2013 14:54

Chart of Barrington IL Real Estate Sales in 2012 and 2013

How is The Barrington IL Housing Market as We "Steam" Through Summer? The Barrington IL Housing market has been extremely active during the last few months but now the interest rates have started to climb a bit and families are taking well earned vacations while school is out, it's time to take a closer look and wonder if things might slow down a bit. The image shows that 2013 is a busier year than 2013. Sales are up and June is blasting ahead. The weather is not so blistering hot this year and buyers certainly seem to have more confidence. In fact the median price point in some of the Barrington neighborhoods are seeing houses go under contract in days not weeks. Deer Park is a prime example of that. i don't think the recent rising mortgage interest rates will have much impact at our level, at least for now. They are still historically low and under 5%, making borrowing for a 30 year stretch a really good prospect. I am being contacted by more and more Barrington owners looking to downsize their homes. That's an interesting trend but fortunately is not flooding our market with listings. As for the South Barrington IL housing market, well as the homes are mostly at the top quartile of our price range it's not picking up steam as fast but we've got quite a lot of homes under contract as I write, 23, with 55 available. That's 42%. To me those are pretty positive numbers.