Median price of homes sold jumps by $100K in Barrington

Increase tied to lack of inventory

By Josh Bickford
Posted 5/21/22

The median price of homes sold in Barrington continues to climb.

According to data provided by the Statewide Multiple Listing Service, the median price of homes sold in Barrington grew by more …

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Median price of homes sold jumps by $100K in Barrington

Increase tied to lack of inventory

Posted

The median price of homes sold in Barrington continues to climb.

According to data provided by the Statewide Multiple Listing Service, the median price of homes sold in Barrington grew by more than $100,000 in a comparison of first quarters for 2022 and 2021. 

In the first quarter of 2021, the median price of homes sold in town was $471,000. But from that same period of time in 2022, the price jumped to $582,000.

Real estate professionals believe the increase is tied to the lack of inventory. 

David Coleman, manager of the Barrington office of Mott & Chace Sotheby’s International, said there is such great demand for homes in town that the inventory has not been able to build up. 

“It’s supply and demand,” he said. “There are a lot of buyers out there.”

Coleman said a 1950s colonial in Barrington that was fetching $750,000 a year ago is selling for $1.2 million this year. 

That was the case for a house on Briarfield Road — the four-bedroom Garrison Colonial on a corner lot sold for $1.28 million recently. So far this year, Barrington has recorded more than 20 million-dollar-plus home sales.

Coleman said there has been a lot of interest in homes from out-of-state buyers. He said there are many people from Massachusetts who see Barrington as a desirable place to live — great schools and a beautiful community. Coleman said people have been able to relocate away from cities, such as Boston, as they have been able to work remotely. 

Coleman said the interest in Barrington homes is not specific to one area. 

“I think it’s all across Barrington — Rumstick, Nayatt, Hampden Meadows, the whole town,” he said.  

Recent sales support his claim. Earlier this spring, a home on Bowden Avenue and another on Ida Court — both in the Hampden Meadows section of town — sold for more than $1 million. The Bowden Avenue home, a custom-built colonial with water views of the Barrington River, sold for $1.19 million. The home on Ida Court, a colonial on a quiet cul-de-sac, sold for $1.1 million recently. 

Data from the Statewide Multiple Listing Service shows a 35 percent drop in DOM, or “days on market,” with homes for sale in Barrington. In the first quarter of 2021, the average DOM was 54. That figure dropped to 35 in the first quarter of 2022.

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