Is North Barrington, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Barrington is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, North Barrington was a Buyer's Market.

Key Takeaway

North Barrington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in North Barrington, IL

How much do homes in North Barrington, IL cost?

Median Sold Price

$925,000

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$205,000(+28.5%)

Key Takeaway

Homes in North Barrington have sold for 28.5% more than they did a year ago.

Summary: The median home sold price in North Barrington was $925,000 in May 2024, up 28.5% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 --
N/A
3 $438.5K$479.9K
+9.4%
4 $626K$902K
+44.1%
5+ $1.0M$1.0M
-8.5%

Summary: North Barrington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 44.1%, and 5+ bedroom homes decreased by 8.5%.

Median Sold Price Compared To Nearby Cities

North Barrington
+28.5%
Lake Zurich
+9.7%
Cuba Township
+2.9%
Lake Barrington
0.2%
Deer Park
-2.7%

Housing Supply in North Barrington, IL

How many homes are available in North Barrington, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2627+3.8%

Summary: The North Barrington real estate market had 27 homes for sale in May 2024, a 3.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 43
-25.0%
4 1113
+18.2%
5+ 1110
-9.1%

Summary: The North Barrington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 9.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
67+16.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Barrington, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in North Barrington in May 2024, up by 16.7% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.

Days on Market for North Barrington, IL

How long does it take to sell a home in North Barrington, IL?

Average Sale Time

May 2023May 2024CHANGE
12 Days69 Days+481.0%

Summary: Homes in North Barrington had an average of 69 days on market in May 2024, up by 481% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in North Barrington are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 7 homes were sold in North Barrington; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 5 Days Ago

Newest Listings in North Barrington, IL

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