Barrington Market Update from Mimi Noyes Burke

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Barrington Market Update:

2015 Mid-Year Report

Despite a slower first quarter, second quarter sales in Barrington have caught up with the first half of 2014. Average sale price is unchanged at $575,000 while market time is up to 176 days versus 145 days in 2014. Year to date, homes are selling at 94% of list price (similar to 2014 & 2013). Additional inventory has continued to enter the marketplace as sellers want to take advantage of the summer season. 

Nationally, the coasts are experiencing robust markets with prime areas seeing multiple offers. Likewise certain price ranges in the city are experiencing high demand as millennials want to take advantage of lower interest rates and the benefits of home ownership. 

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Sales for the Barrington Areas are listed below for homes $1,000,000+. The highest sale is 11 waterfront acres on Caesar Drive for $1,690,000 which closed last week. There have been no closings above $2,000,000 year-to-date versus 2014 where 7 homes sold above $2,000,000.  
Please let me know if I can answer any further questions -- as always, I am here to help!
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