Lake Barrington First-Time Homebuyer Report for October

Lake Barrington is much younger than the rest of Illinois, with a median age of 53. It's very affluent as well, with a median income of $117,836 per household. The Lake Barrington market is mostly made up of detached houses, which currently account for 59% of the homes for sale in the area. Topping the list of best schools in the city is Barrington Mdle Sch- Prairie Cmps.

Culture

According to Foursquare, Lake Barrington Shores Golf Club is the most popular outdoor attraction in Lake Barrington.

Price Range

Homes in Lake Barrington are generally more expensive than others in the state with a median home value of $359,500 and an average list price of $412,692. The Lake Barrington market is experiencing a prolonged pullback, but sales managed an uptick this week of 21.4% to 17 homes sold over the last 30 days.

Wonder which homes are generating the most buzz? Here are the most viewed listings in Lake Barrington:

$550K   $649K   $525K  

Typical Dwelling

A four-bedroom detached home valued around $572,520 is considered a typical dwelling in Lake Barrington. If a buyer was looking for a similar home, they would need good credit and a $114,504 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,959 and the property tax rate is $19.95 per $1,000 of taxable assessed value.

Get started right now by checking out Lake Barrington homes for sale or reviewing Lake Barrington real estate trends.


Data reported through 10/13/2016

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Ask a local expert about this area:
@properties
2 reviews
Keller Williams Success Realty
Snapped 15 homes in this area
RE/MAX Unlimited Northwest
Snapped 1 home in this area

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