Is Lake Barrington, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lake Barrington was a Buyer's Market.
Housing Prices in Lake Barrington, IL
How much do homes in Lake Barrington, IL cost?
Median Sold Price
$420,000
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lake Barrington was $420,000 in March 2024, up 2.6% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $230K | $275K | +19.6% |
2 Bedrooms | $274.9K | $305K | +10.9% |
3 Bedrooms | $367K | $411.7K | +12.2% |
4 Bedrooms | $635K | $644.9K | +1.6% |
5+ Bedrooms | $822K | $722.5K | -12.1% |
Summary: Lake Barrington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.6%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 12.1%.
Median Sold Price Compared To Nearby Cities
Lake Barrington | $409.2K | $420K | +2.6% |
Cuba Township | $491.2K | $481.2K | -2.0% |
Housing Supply in Lake Barrington, IL
How many homes are available in Lake Barrington, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 43 | +7.5% |
Summary: The Lake Barrington real estate market had 43 homes for sale in March 2024, a 7.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 11 | +37.5% |
3 Bedrooms | 16 | 12 | -25.0% |
4 Bedrooms | 11 | 14 | +27.3% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Lake Barrington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 37.5%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Lake Barrington in March 2024, down by 9.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
25 Days | 10 Days | -58.7% |
Summary: Homes in Lake Barrington had an average of 10 days on market in Mar 2024, down by 58.7% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in Lake Barrington; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.