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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Barrington is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Barrington, IL

How much do homes in Barrington, IL cost?

Median Sold Price

$615,000

$217/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$74,000(+13.7%)

Key Takeaway

Homes in Barrington have sold for 13.7% more than they did a year ago.

Summary: The median home sold price in Barrington was $615,000 in May 2024, up 13.7% from last year, and the median price per square foot was $217.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $166.7K$181K
+8.5%
2 $274K$305K
+11.3%
3 $437.5K$480K
+9.7%
4 $615K$700K
+13.8%
5+ $847.5K$937.5K
+10.6%

Summary: Barrington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 10.6%.

Median Sold Price Compared To Nearby Cities

Barrington
+13.7%
Inverness
+3.6%
Barrington Township
+3.5%
Cuba Township
+2.9%
Deer Park
-2.7%

Housing Supply in Barrington, IL

How many homes are available in Barrington, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
101144+42.6%

Summary: The Barrington real estate market had 144 homes for sale in May 2024, a 42.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 916
+77.8%
3 2031
+55.0%
4 3648
+33.3%
5+ 3548
+37.1%

Summary: The Barrington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 77.8%, 3 bedroom homes increased by 55%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 37.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1925+31.6%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Barrington, you could pay more than the asking price. 56% of homes here sold above asking price last month.

Summary: A total of 25 homes were sold or pending in Barrington in May 2024, up by 31.6% month-over-month. Of the 25 sold homes, 28% were sold under asking, 16% were sold at asking, and 56% were sold over asking.

Days on Market for Barrington, IL

How long does it take to sell a home in Barrington, IL?

Average Sale Time

May 2023May 2024CHANGE
30 Days27 Days-10.1%

Summary: Homes in Barrington had an average of 27 days on market in May 2024, down by 10.1% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 25 homes were sold in Barrington; 84% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

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

Report Updated 1 Day Ago

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