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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Barrington is a neutral's market

Buyer's
Market

Difference Since May 2023

Since last year, South Barrington has remained a Neutral Market.

Key Takeaway

South Barrington is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in South Barrington, IL

How much do homes in South Barrington, IL cost?

Median Sold Price

$1,054,000

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$96,500(+10.1%)

Key Takeaway

Homes in South Barrington have sold for 10.1% more than they did a year ago.

Summary: The median home sold price in South Barrington was $1,054,000 in May 2024, up 10.1% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $720K$812.5K
+12.8%
3 $744.3K$745K
0.1%
4 $895K$1.0M
+15.4%
5+ $1.2M$1.3M
+3.1%

Summary: South Barrington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 3.1%.

Median Sold Price Compared To Nearby Cities

South Barrington
+10.1%
Hoffman Estates
+8.6%
Barrington Hills
+5.9%
Inverness
+3.6%
Barrington Township
+3.5%

Housing Supply in South Barrington, IL

How many homes are available in South Barrington, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2433+37.5%

Summary: The South Barrington real estate market had 33 homes for sale in May 2024, a 37.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 11
0.0%
4 612
+100.0%
5+ 1720
+17.6%

Summary: The South 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 17.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
15+400.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Barrington, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in South Barrington in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.

Days on Market for South Barrington, IL

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

Average Sale Time

May 2023May 2024CHANGE
21 Days23 Days+10.1%

Summary: Homes in South Barrington had an average of 23 days on market in May 2024, up by 10.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 5 homes were sold in South Barrington; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% 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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