Please find the latest weekly comparisons for the state of Rhode Island.
The new listing information is reflective of a market consisting of multiple offers and increasing prices. The number of new listings taken last week was down in comparison to the similar period in 2019. In Rhode Island, we now have a one month supply of inventory for single families – a 36% decline from last year.
The Under Agreements were up substantially in comparison to last year. For the month of July we saw a 63% increase in under agreements in comparison to July 2019.
The sold numbers finally eclipsed 2019 for the week and for the month of July were up 4%. That number will continue to rise with number of properties under agreement.
This remains a rare opportunity for sellers to maximize value. Buyers are still out there and looking to take advantage of the low interest rates.
To learn what this may mean for you in this frenzied market, please contact one of our talented real estate specialists. www.mottandchace.com/agents