South Barrington Sales up in 2012 but High Prices Listing Activity Still Soft

South Barrington Homes sold in December - 3. That may not sound many but South Barrington is a small village; a review of the year 2012 compared to previous years will give us a better idea of how buoyant the market is becoming, especially as South Barrington homes account for a lot of our higher priced transactions. The following chart shows sales each year since 2007. There's quite a difference in 2010 and 2011 compared to 2007/8/9 but no doubt in my mind 2012 shows we have turned the corner.

 There are currently 10 homes in South Barrington with contracts and 5 of those are dated 2013.  That leaves only 41 homes available in South Barrington. If 2012 saw 56 sales, that equals 4.67 sales per month so we have 8-9 months of inventory. Simply the inventory could all be absorbed before the end of summer and many South Barrington buyers would be disappointed.

High Priced Home Market Still Soft

If your home price is abover $1 Million the market is more active than it has been in years but it is still soft. Prices may still decline a little and the buyer pool is limited. You will have lots of competition so expect a longer than average marketing time for a while to come.