Please find the latest weekly comparisons for the state of Rhode Island.
The new listing activity showed a slight increase and is approaching 2019 levels for this period in the market.
However, the overall number of properties on the market is still significantly below 2019 levels thus creating a robust seller’s market.
Properties under agreement continue to climb and are well above 2019 levels.
Sold properties are trending up but still significantly below 2019 levels.
On a national basis, the number of closed sales declined 27% in the month of May on a year over year basis with a 10% decline from the month of April. However, the real estate pundits are indicating “the worse is behind us” and discussing the “migration to suburbia”. Based on the activity we are seeing in our local markets, it appears to be an accurate prediction.