Activity ReportBlog October 20, 2020

Rhode Island Real Estate Activity Numbers | September 27 to October 10, 2020

Please find the latest market activity comparisons for the state of Rhode Island.

Please note, we have moved to a biweekly format.

The listings taken during this two week period were slightly over the 2019 levels but this was a slight decrease from the previous period.
The properties under agreements trended up from the prior two week period and continue the upward trend we have experienced since May of 2020.
The sold properties have surpassed the 2019 numbers since the end of August as projected.
Properties are selling at an unprecedented rate and often for prices that surpass expectations based on comparable sold properties.  We are seeing a seller’s market with buyer interest at a level that is unmatched in recent memory.  We believe buyer demand will remain strong through the fourth quarter based on the low mortgage rates and the number of multiple offer situations we are seeing in many price points.  However, the supply of inventory is severely limited to meet this unparalleled buyer demand.  For sellers looking to capitalize on this current market, the time to list is now.
To learn what this may mean for you, please contact one of our talented real estate specialists.