Barrington tallies 15th million-dollar-plus home sale
Local Realtor credits Barrington's public schools
In just the last few weeks, three homes in Barrington sold for more than $1 million, and a fourth sale listed at $4.195 million is pending.
The three sales bring the 12-month tally for million-dollar-plus house sales in town to 15, which is more than most prior years, said Barrington Tax Assessor Michael Minardi.
"That's a high number," said Mr. Minardi, during an interview on May 4.
The most recent sale was for the home at 140 Adams Point Road — that house sold for $2,080,750. The house at 7 Blount Circle sold in late March for $1,125,000, while the house at 47 South Meadow Lane sold in mid-April for $1,315,000. Officials said there is also a sale pending for a home in the Rumstick area with a list price of $4,195,000.
Dave Coleman, of Mott & Chace Sotheby's Barrington office, said he has noticed an increase in activity with Barrington's million-dollar-plus housing market.
"This has been one of the best we've seen in years," Mr. Coleman said. "A number of the sales are to families. These are people with kids in the school system."
Mr. Coleman offered a few reasons for the strong million-dollar-plus housing market in Barrington, in addition to the town's close proximity to Providence. Mr. Coleman said consumer confidence appeared to be on the rise, and there are still good interest rates available. He added that sellers are also listing their homes at more reasonable prices.
"And I think the main thing is, this (Barrington) is still a destination," he said. "The Barrington schools definitely have an effect on the real estate market."
Mr. Coleman said the market is also aided by supply and demand. He said there are fewer homes for sale in Barrington this spring, which is driving up the demand. Mr. Coleman said he has seen houses in Barrington selling at a faster-than-normal rate this spring.
Mr. Minardi said he had reviewed the million-dollar-plus home sales and had noticed that some of sale prices were greater than the town's assessments on the properties. That had not been the case in the past, he added. That information could play a role in the town-wide statistical revaluation that is slated to begin soon.
"The last revaluation saw a reduction" in the million-dollar-plus homes, said Mr. Minardi. "The new sales are showing us that the trend is in the other direction."
Million dollar-plus home sales
April 2016-May 2017 (shown with address, sale price and broker)
• May 2016: 121 Nayatt Road $2,400,000, R.D. Denelle And Company
• May 2016: 46 South Meadow Lane $1,440,000, Residential Properties
• June 2016: 1 Rio Road $1,220,000, Residential Properties
• June 2016: 35 Bourne Lane $2,500,000, Residential Properties
• June 2016: 337 Rumstick Road $1,100,000, Residential Properties
• June 2016: 228 Rumstick Road $1,550,000, Residential Properties
• July 2016: 11 Spinnaker Drive $1,575,000, Residential Properties
• Sept. 2016: 11 Nayatt Road $1,950,000, Residential Properties
• Sept. 2016: 32 South Meadow Lane $1,145,000, Residential Properties
• Nov. 2016: 8 Pheasant Lane $2,100,000, Residential Properties
• Jan. 2017: 91 Nayatt Road $3,500,000, Gustave White Sotheby's
• March 2017: 56 Elm Lane $1,600,000, Mott & Chace Sotheby's
• March 2017: 7 Blount Circle $1,125,000, Residential Properties
• April 2017: 47 South Meadow Lane $1,315,000, Residential Properties
• May 2017: 140 Adams Point Road $2,080,750, Mott & Chace Sotheby's