Please find the latest weekly comparisons for the state of Rhode Island.
New listing activity remains below 2019 levels and causing multiple offer situations due to lack of inventory.
Properties under agreement have trended up slightly for the past two weeks and have surpassed 2019 levels. This is indicative of a busy selling season this summer as new inventory starts to come on the market.
The sold activity has been relatively flat for the past four weeks as expected due to the lack of inventory and the March/April impact of Covid-19.
As we continue on the Reopening RI Plan it is our expectation that many sellers will be entering the market since there is a greater degree of comfort with showings and a pent up demand for listings. Buyers continue to take advantage of the incentive of low mortgage rates. It is an opportune time to be in the market.