Activity ReportBlog November 14, 2020

Rhode Island Real Estate Activity Numbers | October 25 to November 7, 2020

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

Please note, we have moved to a biweekly format.

The new listings trend is moving towards 2019 levels but is still slightly ahead and has been since September.
The properties under agreement are still strong and have surpassed 2019 levels since May.
The sold properties have been ahead of 2019 levels since September but the gap is narrowing.
It continues to be a strong seller’s market going into the end of the year.  In Rhode Island, the unit sales for single family were up 9.1% for the third quarter in a year over year comparison, with median price up 13.5% and Days on Market down 10%.   The state is continuing to see an increase in buyers from Massachusetts (15.8%), New York (30.6%) and Florida (33.8%) based on  Sold properties from April through September.  Leading indicators such as demographics from younger generations, the trend towards work at home business models and low interest rates point to a momentum that will carry into 2021.
To learn what this may mean for you, please contact one of our talented real estate specialists.