I recently wrote a post about there being more to Lake Barrington than Lake Barrington Shores. So hot on the heels of that it seems the perfect time to look at the Lake Barrington real estate market excluding Lake Barrington Shores. (I write quarterly reports about the LBS market if you want that data.)
Lake Barrington is a small village and as 1317 of the 2039 housing units are in LBS, it stands to reason that Lake Barrington real estate does not account for many sales on a year by year basis. Based on the statistics I pull from our MLS there are currently only 23 single family homes for sale in Lake Barrington. Another 3 homes are under contract and in the last 12 months Nov 11 2010 to Nov 11 2011 there have been 25 sales. So it looks as if we are on track to sell about the same amount this year as last.
With limited sales per year for an area it’s better that I compare by year rather than by month, otherwise the data can be too random to make any sense. Lets look at two data points, probably that many Lake Barrington real estate owners would like to know.
- What’s the average marketing time?
- What’s the list to sales price ratio, again average.
I wish I had better news on the average marketing times. 11 months is a long time to wait for a sale if you are in the market to sell a Lake Barrington home.
What can you do to beat these odds?
Pricing is always important in a buyers market but there are other things that might help. Jazz up your curb appeal especially over the winter months. Be honest, take a walk around your home with a critical eye. There might some some simple fixes you can do to help. Granted it might cost a few hundred or a one to two thousand to resolve things like dated wall paper, or an old bathroom, but it might secure you a faster sale so you can move on to your next home.
A great time to get started if you want to sell in 2012, is right now. Let me know if I can help identify your homes weak points. Buyers today can afford to be picky.
Call Corinne 847-363-3686 or email