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Please find the latest market activity comparisons for the state of Rhode Island.
Interestingly enough, new listing activity since mid-March has exceeded the 2020 levels as expected due to the impact of Covid on the market last spring.
The properties under agreement have surpassed the 2019 and 2020 levels since the beginning of March.
Sold properties are on par with 2019 through the end of March but are expected to accelerate due to the pending transactions and the velocity in the market.
The Rhode Island real estate market continues to experience multiple offers on new inventory coming to the market. The buyer pool has remained strong and determined to purchase despite the rising prices and levels of competition. Interest rates continue to remain low and are fueling the market. It remains an opportune time for sellers since single family inventory is below a one month’s supply.
To learn what this may mean for you, please contact one of our talented real estate specialists. www.mottandchace.com/agents
