Please find the latest weekly comparisons for the state of Rhode Island.
As expected, listings taken are up for the fourth consecutive week but still significantly below 2019 levels. Market absorption rates are favoring sellers, making it is an opportune time to list property.
The Under Agreements are up for the fifth consecutive week. Additionally, last week was on par for the activity seen in 2019.
The number of sold properties was down from the prior week and from 2019 as predicted since the March pendings saw the impact of the Covid-19 stay-at-home directives.
The NAR statistics are showing that 77% of potential sellers were planning to list once the stay-at-home orders were lifted. Now may be the time list. The low interest rate environment is fueling significant buyer interest and is a driver of the pending activity. We expect it to see an increase in activity as we move into the summer market.