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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Barrington is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Lake Barrington, IL

How much do homes in Lake Barrington, IL cost?

Median Sold Price

$436,000

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,000(+4.6%)

Key Takeaway

Homes in Lake Barrington have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Lake Barrington was $436,000 in October 2024, up 4.6% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $278K$232K
-16.5%
2 $305K$305K
0.0%
3 $411.2K$454.5K
+10.5%
4 $707.5K$620K
-12.4%
5+ $773.7K$760K
-1.8%

Summary: Lake Barrington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.5%, 2 bedroom homes did not change, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 12.4%, and 5+ bedroom homes decreased by 1.8%.

Median Sold Price Compared To Nearby Cities

North Barrington
+31.9%
Cuba Township
+8.9%
Lake Barrington
+4.6%
Port Barrington
+2.8%

Housing Supply in Lake Barrington, IL

How many homes are available in Lake Barrington, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2736+33.3%

Summary: The Lake Barrington real estate market had 36 homes for sale in October 2024, a 33.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 510
+100.0%
3 1013
+30.0%
4 78
+14.3%
5+ 55
0.0%

Summary: The Lake Barrington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
57+40.0%

Asking Price vs. Sold Price

5 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 Lake Barrington, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Lake Barrington in October 2024, up by 40.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% were sold over asking.

Days on Market for Lake Barrington, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days33 Days+125.2%

Summary: Homes in Lake Barrington had an average of 33 days on market in Oct 2024, up by 125.2% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 7 homes were sold in Lake Barrington; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 16 Days Ago

Newest Listings in Lake Barrington, IL

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