(PRWEB) April 08, 2013
There was a dramatic increase of 150% in the number of new listings for homes, condos, and townhomes in Port Barrington. The number of new listings rose from 4 new listings in March 2012 to 10 new listings in March 2013. There was also a slight increase in the number of homes for sale in the area, as the number of homes for sale increased from 19 homes in March 2012 to 20 homes in March 2013. Despite the increase in new listings and homes for sale in the area, the months supply of inventory decreased just slightly. The months supply of inventory dropped from 10.6 homes in March 2012 to 10 homes in March 2013. After seeing a large drop in the number of closed sale for Port Barrington homes last year, as the number of closed sales fell from 4 closed sales in March 2011 to 1 closed sale in March 2012, this number remained steady at 1 closed sale for March 2013. After a dramatic decrease in the median sales price last year of almost 70%, the median sales price dropped again this year by an additional 30%. The median sales price declined from $ 215,500 in March 2011 to $ 65,000 in March 2012 and then finally to $ 45,000 in March 2013. This dramatic decreased may be caused by the limited number of closed sales for the last two years. There was a significant improvement in the market time for homes sold in Port Barrington in March 2013. The number of days homes in the area remained on the market dropped from 177 days in March 2012 to only 19 days in March 2013. This number is also significantly better than March 2011s figure of 236 days on the market.
Welcoming his 12th year of Real Estate experience, John Herman effectively turns buyers into owners, and closes listings successfully with Barrington Real Estate, Illinois. Clients are quickly referred to as guests in his home market, welcoming everyone to his performance standards uniquely separating him from the competition. Johns diligent work with clients earned him a 2011 Five Star Professional Award. As a daily hard working Realtor, John has made it in the top 7% of Real Estate agents granted this award. With his Masters Degree, John is also certified in Foreclosure and Short Sale transactions along with certification as an Accredited Home Buyer Representative. John and his team are localized experts with over 20 years of real estate experience within the beautiful area of Chicago. John Herman controls the necessary actions to position the right inspector, plumber, or resourceful help needed to close every deal properly.
