2020 was certainly a crazy year in many respects. I’m sure most people are happy to see it come to a conclusion, and that’s completely understandable. I do like to take the look on the bright side, though, and for my family and my business, there were many silver linings to take away from 2020.
Personally, my family and I spent much more time together than we ever would have otherwise. We enjoyed more meals together at the dinner table, spent more time playing yard games, card games, and sure, some video games together, too. Don’t get me wrong, running around to various kids’ sporting events, attending large social gatherings, and hanging out with friends are all fun things that I love to do, but getting more time at home with my wife and three children was incredibly valuable.
On the business side, I was nervous in March as the pandemic started to ramp up in New England and around the country. I assumed that the virus would have a negative impact on the local real estate market and our business at Chart House Realtors. But, as I typically try to do, we kept working, remained positive (our mindset, that is), and found new ways to conduct our business. It wasn’t long before our team and our industry found a number of new ways to work effectively and safely at the same time. And, sure enough, there was business to be conducted. The pandemic had people from more densely populated areas looking to relocate to a new community with a little more space, great resources, schools, and outdoor attractions. It’s no wonder they landed in southern New England! We were happy to help them, and thankful they found us. In the end, the results were an outstanding year in business at Chart House Realtors, and for that we are very grateful.
Here is a quick summary of how those numbers looked in the local real estate market in 2020:
Barrington 2020 Sales Summary:
- Total number of sales: 343
- Median sale price for a single family home: $498,250
- Median price per square foot: $275
- Most expensive home sold in 2020: $2,250,000
- Least expensive home sold in 2020: $165,000
The total number of sales was essentially even from 340 in 2019. The median sale price rose 8.3% from $460,000 in 2019, and the median price per square foot rose 9.6% from $251 in 2019.
Bristol 2020 Sales Summary:
- Total number of sales: 303
- Median sale price for a single family home: $380,000
- Median price per square foot: $253
- Most expensive home sold in 2020: $2,300,000
- Least expensive home sold in 2020: $150,000
The total number of sales rose 14% from 266 sales in 2019. The median sale price for a single family home rose 13.4% from $335,000 in 2019, and the median price per square foot rose 10.3% from $227 in 2019.
Warren 2020 Sales Summary:
- Total number of sales: 120
- Median sale price for a single family home: $355,500
- Median price per square foot: $241
- Most expensive home sold in 2020: $790,333
- Least expensive home sold in 2020: $125,000
The total number of sales dropped 11.1% from 135 in 2019. The median sale price for a single family home rose 18.1% from $301,000 in 2019, and the median price per square foot rose 15.9% from $208 in 2019.
Portsmouth 2020 Sales Summary:
- Total number of sales: 377
- Median sale price for a single family home: $470,000
- Median price per square foot: $272
- Most expensive home sold: $3,230,000
- Least expensive home sold: $40,000
The total number of sales rose 20.8% from 312 sales in 2019. The median sale price for a single family home rose 15.8% from $406,000 in 2019, and the median price per square foot rose 5.83% from $257 in 2019.
If you have any questions about these numbers or this report, we would love to hear from you. Numbers vary from neighborhood to neighborhood, and are oftentimes very property-specific. If you’re curious about the value of your home in this market, we are always happy to provide a free market report for your specific property.
About Chart House Realtors
Written by Matthew Antonio, Team Leader for Chart House Realtors in Barrington, RI.
Chart House Realtors combines the best aspects of size and scale. We are a small boutique firm with 7 full-time, local members. We operate out of our office in Barrington, RI conducting business throughout RI and MA. We are also affiliated with Keller Williams, which is the largest real estate brand in the world, with more agents, more sales and more reach than any other real estate company. So, our clients get the best of both worlds!
Our small, local size gives us the ability to craft a unique personalized plan for each and every client. At the same time, the size and scale of Keller Williams allows us to reach buyers and sellers on a national and international level. Year-to-date, Chart House is ranked among the top 1% in sales across all agents in Rhode Island and Massachusetts.
If you are considering buying or selling property anywhere in southern New England, we would love to hear from you.