Housing Market in North Shore and Barrington Area Remains Strong

The North Shore and Barrington housing market remains strong as we reflect upon the first half of the year. According to data from the North Shore - Barrington Association of Realtors (NSBAR), the number of closed sales and the median sales price for homes has increased in June compared to this time last year.

Closed sales in the North Shore and Barrington region are up to 986, an increase of 12.2 percent compared to June of last year. Comparing year-to-date, the number of closed sales has increased to 3,525-up 7.2 percent.

"We are seeing an increase in first time home buyers who are accounting for a larger percent of sales. Other data sources show that the increase in appreciation of average sales prices is nearing the 2007 price levels," said NSBAR Board President and broker with Realty Advisors North Wayne Paprocki, MCNE, DREI, GRI.

The median sales price has gained traction and in June it was up to $452,250, a 5.8 percent increase compared to this time last year.

News listings in the North Shore and Barrington region are also showing inclines. Compared to this time last year, new listings are up by 3.7 percent to 1,583. Year-to-date, new listings have gone up by 11.9 percent.

Sales and price information is generated by NSBAR with Midwest Real Estate Data.

NSBAR represents more than 3,500 practitioners in residential and commercial real estate. Since 1919 it has been the area's leading advocate for private property rights and a healthy real estate environment. Learn more at www.nsbar.org.