Barrington Market Update from Mimi Noyes Burke

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Barrington Year-to-Date

Market Update

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Year-to-Date Stats; Detached homes only in the Barrington Area
In 2015, homes in Barrington are selling at 95% of list price.

Currently, there are 518 homes on the market with an average List Price of $1,100,000.
I expect approximately 100-120 (20%+ of the current inventory) homes to sell in the 4th quarter, which means 80% will be carried over into 2016. Starting late January new buyers will start their home search and the casual looker will become more serious. Between February and May new inventory and re-lists will come on the market and provide new competition.
Today's Buyer...

There's simply no denying that buyers are savvier than ever. Information is only one click away, and buyers are constantly doing their own research via, Zillow, Redfin, RE/MAX, and other real estate sites. In addition, the introduction of HGTV, Houz, Pinterest, and other social media sites has increased buyers' expectations to unprecedented levels. Whereas a decade ago, home staging was thought of as a luxury, today it is simply an integral element of a successful marketing plan.
Please let me know if I can answer any further questions -- as always, I am here to help!
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Barrington, IL 60010

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