Is Lake Barrington, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Barrington has remained a Seller's Market.
Housing Prices in Lake Barrington, IL
How much do homes in Lake Barrington, IL cost?
Median Sold Price
$410,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Barrington was $410,000 in May 2024, up 0.2% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $275K | $225K | -18.2% |
2 Bedrooms | $274.9K | $309.5K | +12.5% |
3 Bedrooms | $360K | $420K | +16.7% |
4 Bedrooms | $630K | $609.9K | -3.2% |
5+ Bedrooms | $819K | $615K | -24.9% |
Summary: Lake Barrington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes decreased by 24.9%.
Median Sold Price Compared To Nearby Cities
North Barrington | $720K | $925K | +28.5% |
Tower Lakes | $559.5K | $685K | +22.4% |
Cuba Township | $466.5K | $480K | +2.9% |
Lake Barrington | $409K | $410K | 0.2% |
Housing Supply in Lake Barrington, IL
How many homes are available in Lake Barrington, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
38 | 53 | +39.5% |
Summary: The Lake Barrington real estate market had 53 homes for sale in May 2024, a 39.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 15 | 16 | +6.7% |
3 Bedrooms | 9 | 13 | +44.4% |
4 Bedrooms | 10 | 18 | +80.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Lake Barrington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 80%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 13 | +18.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Lake Barrington in May 2024, up by 18.2% month-over-month. Of the 13 sold homes, 54% were sold under asking, 15% were sold at asking, and 31% were sold over asking.
Days on Market for Lake Barrington, IL
How long does it take to sell a home in Lake Barrington, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 13 Days | -39.5% |
Summary: Homes in Lake Barrington had an average of 13 days on market in May 2024, down by 39.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Lake Barrington; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.