Barrington: In Barrington, sales were down 13% over the second quarter of 2007. That is a substantial improvement over first quarter data for 2008. Prices were down just .06%, which is not bad for a market correction. Homes that sold were on the market for an average of 111 days. And, homes were selling at an average of 93.5% of list price.
Palatine: The volume of sales for Palatine was down 15.07% compared to the second quarter of 2007. Prices were down just .33%. Homes that sold were on the market for an average of 79 days, which is quite a low number for a seemingly dismal market. The sale to list price was 95.5%.
Inverness data is contained in the Barrington and Palatine market statistics within their respective zip codes 60010 and 60067.
Lake Zurich, Hawthorn Woods, Kildeer, and Long Grove: Sales in the 60047 zip code were down 38.6% compared to the previous year. Prices were down almost 14%. The average time on the market for homes that sold was 111 days. And homes were selling at 93.9% of list.
Crystal Lake: In Crystal Lake, the volume of sales was down 33%. Prices were down 13.6%. Homes that sold stayed on the market for 111days. And homes were selling at 95% of the list price.
Algonquin: Algonquin sales volume was down 14.04%. Prices were down 7.34% The average time on the market for homes that sold was 121 days. And homes were selling at 95.5% of list price.
To get a better sense of how the market is shaping up this year, compare the second quarter of 2008 to the first quarter. Keep in mind, these stats are a comparison of this year’s data with last year’s data.
*All data comes from Midwest Real Estate Data, LLC
This is really helpful. Newspaper headlines are so general, it is difficult to understand what is going on in your own community. These stats provide insight into the local market. I especially like the links to the previous quarter’s market report.