Please find the latest market activity comparisons for the state of Rhode Island.
The new listing activity clearly reflects what we are experiencing in the market. New listings are well below 2019 and 2020 levels and have actually been trending down since the beginning of the year.
The number of properties under agreements are up from the two prior years which is compounding the low inventory challenge.
The number of properties sold, as expected, are on par with prior years. The January sales data from RIAR did indicate that the continued rise year over year in sales has moderated slightly. This is an expected result due to the lack of inventory.
It continues to be an opportune time to list as prices continue their upward trend. Mortgage rates are projected to slowly increase which may have an impact on the market.
If you are encouraged to list now and take advantage of the market opportunities, please contact one of our talented real estate specialists. www.mottandchace.com/agents