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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Barrington is a seller's market

Buyer's
Market

Difference Since December 2021

Since last year, Lake Barrington has remained a Seller's Market.

Key Takeaway

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

How much do homes in Lake Barrington, IL cost?

Median Sold Price

$369,278

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

-$44,222(-10.7%)

Key Takeaway

Homes in Lake Barrington have sold for 10.7% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $213.9K$230K
+7.5%
2 $261K$266K
+1.9%
3 $377.5K$353.3K
-6.4%
4 $621.9K$630K
+1.3%
5+ $774.4K$770K
-0.6%

Median Sold Price Compared To Nearby Cities

North Barrington
+8.1%
Tower Lakes
-1.3%
Cuba Township
-2.9%
Lake Barrington
-10.7%

How many homes are available in Lake Barrington, IL?

Number of Homes For Sale

Nov 2022Dec 2022%
3436+5.9%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 00
0.0%
2 56
+20.0%
3 1517
+13.3%
4 1211
-8.3%
5+ 22
0.0%

Number of Homes Sold

Nov 2022Dec 2022%
47+75.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Barrington, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
39 Days16 Days-58.5%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Lake Barrington, IL

Number of homes for sale in Lake Barrington, IL real estate market have reached 36. In December 2022 in Lake Barrington, IL there were 5.9% more homes for sale than in November 2022. While the average time on the market in December 2022 was 16 days, the median list price was $369,278. Between November 2022 and December 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 7.5%, prices of 2 bedrooms properties went up by 1.9%, 3 bedrooms properties became 6.4% more cheaper, prices of 4 bedrooms properties went up by 1.3%, 5 bedrooms properties prices decreased by 0.6%. This housing market inventory have changed: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory increased by 20%, volume of 3 bedrooms homes went up by 13.3%, 4 bedrooms homes became 8.3% less available, 5 bedrooms homes did not move. Over 1 listings were sold over their listed price in December 2022 in Lake Barrington, IL. In the same period over 4 listings were sold below the listed price and 2 listings were sold for the listed price.

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