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Barrington Waterfront Market Update

As of August 25, 2020…

There have been 15 waterfront properties sold in Barrington in the past 365 days.

10 of all 15 waterfront properties, as well as 9 of the top 10, were in the Nayatt School District.

There was only one waterfront property over $1,000,000 sold in the last 365 days that was not in the Nayatt School District. That property was 2 Willow Way, which sold for $1,624,000. 2 Willow is just under 3,000 square feet with 3 bedrooms and 2.5 bathrooms, with a direct western-facing waterfront. Along the southern property border of 2 Willow Way is a public beach at the end of Annawamscutt Road. Its position opens the view in a southerly direction and creates a wider platform for views, but it also compromises privacy a bit, as this is a popular beach for walks among people living in the neighborhood.

Waterfront homes over $2,000,000 had noticeably larger living space and were set on larger pieces of land. The median square footage of living space in this price band was 5,632 square feet and the land square footage was, on average, 121,432.

Between $1,000,000 and $2,000,000 there were 7 waterfront homes sold in Barrington over the last year. The lot sizes ranged from 15,200 square feet to 61,264 square feet. The median square footage of living space was 3,500 square feet with an average of 5 bedrooms, 4 bathrooms, and a median sale price of $415 per square foot. These homes sold, on average, at 90% of their original listing price and took approximately 123 days on the market to sell. They also sold for almost exactly 100% of their assessed value.

However, there were some dramatic differences between the assessed value and sale price on an individual basis. For example, 8 Lighthouse Lane sold for $1,070,000 and was assessed by the Town at $1,764,000. This property had been off and on the market for two years with an original asking price of $1,690,000 in July of 2018. 2 Willow Way, 5 Riverside Drive, and 21 Fessenden Road all sold for substantially more than their tax-assessed value.

For the purposes of evaluating waterfront properties sold under $1,000,000, I have chosen to exclude 23 Riverview Drive. This is a really neat, waterfront cottage that is dramatically different than other waterfront properties sold recently. It is just 1,112 square feet with 2 bedrooms and 1 bathroom. It listed for $450,000 and sold for $426,000 in 51 days.

The remaining 4 waterfront properties sold in Barrington over the last 365 days range in price from $700,000 to $995,000. One of those four properties is in the Nayatt School District (1 Matthewson Road) and the other 3 are in the Sowams School District / Hampden Meadows neighborhood. The median square footage amongst the four properties is 2,426 square feet with 3 bedrooms, 2 bathrooms, and an average lot size of 22,618 square feet of land. These homes sold in 60 days on average and at 97% of their original listing price. The median sold price per square foot for these properties is $340.

In summary, the waterfront real estate market in Barrington continues to be strong. There is a healthy mix of inventory ranging from large homes set on multiple acres, right down to cute seaside cottages that offer quaint living space and gorgeous water views. Understanding the market conditions and the unique characteristics of each waterfront property will help position yourself for success as a buyer or a seller.

About Chart House

YTD, Chart House is currently the third-largest producer of sales in the East Bay and the third-largest producer of sales in Barrington. Chart House is also ranked #27 in Rhode Island sales statewide. Keller Williams Realty, as a brand, is the largest volume producer for both dollars and units in the State of Rhode Island (YTD).

This market update is provided by Matthew Antonio, Team Leader for Chart House Realtors in Barrington, RI. Chart House is a Real Estate Sales Team working within the Keller Williams Realty system. We focus on providing a high level of service and detail representing buyers and sellers in all types of real estate transactions.CONTACT US

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