Activity Report • April 25, 2022

Rhode Island Real Estate Activity Numbers | April 2022

by Mott & Chace Sotheby's International Realty

Please find the latest market activity comparisons for the state of Rhode Island for the first quarter of 2022.

The number of listings remain below the levels recorded in the past three years.

The activity for properties under agreement, while below 2021 levels, has exceeded the levels seen in 2019 and 2020.

The number of properties solds are below 2019 levels but are tracking close to 2020 and 2021.

In February the Rhode Island Association of Realtors reported that the supply of single family homes reached a record breaking low since 1998. The number of homes for sale fell 30% from February 2021 and 67% from 2020. Prices continued to rise with single family homes seeing a median price increase of 15% year over year. Condominium prices saw a 27% increase with multi-family home median prices increasing 22%. For March, the trend continued as the single family median price increased 16% year over year with under one month’s supply of inventory.

If homeowners are thinking of selling their home, now is the time to list. The demand currently remains strong despite the rising interest rate environment. The housing inventory in Rhode Island is at the lowest level since 1998. Even though the inventory is at historic lows, home sales for 2021 were at a 15-year high, which is indicative of the strong buyer demand. For buyers, the rising interest rate environment may signal less competition in the months ahead as first-time buyers are priced out of the market, but the rising interest rates also create a sense of urgency as the cost of financing will be increasing.

To learn what this may mean for you, please contact one of our talented real estate specialists. https://www.mottandchace.com/directory

Featured • April 25, 2022

What You Can Buy in Rhode Island for Around $900,000

by Mott & Chace Sotheby's International Realty

What You Can Buy in Rhode Island for Around $900,000

From a seaside condo to urban cool, the folks at Mott & Chace Sotheby’s International have a tremendous collection of properties for around $900,000.

Rhode Island is one of the hottest real estate markets in the country.

Need to sell to buy — use Mott & Chace’s tool to check the price of your home — CLICK HERE

GET THE LATEST BREAKING NEWS HERE — SIGN UP FOR GOLOCAL FREE DAILY EBLAST

20 Narragansett Avenue #412 | Narragansett, RI | $949,000

Listed by Kelly Schneider

Surfside two-story townhouse that you have been waiting for! Light-filled three bedrooms and three full bathrooms with open concept kitchen, dining and family room. Walk-out decks, off the living room and the third floor offers clear views of Narragansett Bay. This second-floor walkup townhome offers a primary ensuite on the second floor as well as another primary ensuite on the third floor. The granite kitchen features classic white shake cabinets, Viking professional gas stove as well a Viking professional refrigerator. The third bedroom is versatile as a home office or guest bedroom. Two assigned parking spaces are deeded to the condo. Well maintained and managed Surfside seaside complex affords an easy Pier coastal lifestyle; sought after beach, restaurants and recreation, walking, surfing, and Pier festivals. This condo is ready for the 2022 beach Summer season!!

9 Montgomery Street | Pawtucket, RI $899,900

Listed by Joshua Deaner

Welcome to this exceptional residence once featured in Architectural Digest. This historic stand-alone brick building is ideal both as a live/workspace and for effortless entertaining. In addition to incredible light and soaring ceilings, the space features a dramatic pyramid skylight, a custom steel and concrete staircase, a true chef’s kitchen with marble and zinc countertops, 6 burner Thermador range with double ovens, and a private ipe wood terrace off the primary bedroom suite. There is central A/C throughout and radiant heat on the first and second levels. Additionally, off the kitchen there is a private fenced-in yard with custom planters and hot tub. For entertaining inside there is a built-in retractable 13 foot projector screen 4K/8K ready, and built-in bookcases. The lower level is also outfitted with bookcases, high ceilings, 2 additional rooms, laundry, and utilities. The building is within walking distance of The Guild (brewery & taproom), RI Spirits (distillery and tasting room), Harvest Kitchen Local Foods Café, Stillwater Books, and many other downtown eateries and shops. It is just blocks away from the Pawtucket/Central Falls Transit Center currently being constructed, with commuter trains on-schedule to be up and running to and from Boston. It’s an oasis in the heart of historic downtown Pawtucket, with easy access to I-95 and mere minutes via local roads to the East Side of Providence. This remarkable property is a must-see!

60 April Lane | Tiverton | $929,900

Listed by David Stewart

A true Nature Lover’s Paradise, located in the Historic Stonebridge area. Surrounded by stone walls, granite ledge and stone outcroppings along with beautiful perennial gardens and mature plantings. This secluded property is home to lots of wildlife, especially birds of all kinds. Custom built with excellent fit and finish the home was designed to blend into the slope of the land allowing for two beautiful brick terraces, one-off each level on the east and west sides, perfect for enjoying both the start and the end of the day. The open floor plan along with an abundance of large windows and glass patio doors offers wonderful views and natural light. The well-appointed kitchen blends into a large family room with radiant heat, an efficient wood stove, and a dining area. A first-floor bedroom with private patio and full bath is ideal for guests or primary bedroom. The second floor has a large open foyer with beautiful custom wood floors and railings. A very comfortable primary bedroom with beautiful windows, large bath, and a walkout western-facing brick patio. An additional bedroom, large office and a full bath complete this lovely space. Above the garage is a 550 sq. ft. studio/bonus room with windows on all four sides, a rear door with access to a patio and a separate staircase. Located on a quiet cul-de-sac within walking distance to several fine restaurants, coffee shops, a great fish market, and a beach. One mile from Rt. 24, 30 minutes to Newport and one hour from Boston.

Blog • General • News • Press • Sotheby's International Realty • April 22, 2022

Mott & Chace Sotheby’s International Realty Sells Another Top Sale in Charlestown

by Mott & Chace Sotheby's International Realty

Mott & Chace Sotheby’s International Realty is proud to announce the sale of 41 Pietila Road in Charlestown for $1,250,000. Bridgette Soby, Sales Associate, and Danielle Fox, Sales Associate, both of Mott & Chace Sotheby’s International Realty, represented the seller. Omar Valerio of Century 21: The Seyboth Team represented the buyer.

According to data available from Rhode Island Multiple Listing Service, the sale of 41 Pietila Road is the third highest residential sale in the municipality this year. Agents of Mott & Chace Sotheby’s International Realty represented clients in four of the top five residential sales in Charlestown year to date.

“This home is a private sanctuary,” says Bridgette Soby. “It’s the perfect home for year-round entertaining,” she adds.

Sited on 2 acres along Pasquiset Pond with 350 feet of waterfront, the home is perfectly located for outdoor activities and taking in the natural scenery. Encompassing nearly 2,500 square feet of living space, 41 Pietila Road also features an additional cottage, gazebo and a cedar sauna overlooking the pond.

“We are thrilled to have represented the sellers of this incredible home. We are grateful they trusted us to guide them through the process,” says Danielle Fox.

Mott & Chace Sotheby’s International Realty agents have a deep and far-reaching knowledge of local markets and understands how to leverage the power of local expertise with the worldwide reach of the iconic Sotheby’s brand.

This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from Rhode Island Statewide Multiple Listing Service for the period of 1/1/2022 through 4/22/2022.

Featured • April 18, 2022

What You Can Buy in Rhode Island for Around $2 Million

by Mott & Chace Sotheby's International Realty

What You Can Buy in Rhode Island for Around $2,000,000

Saturday, April 16, 2022 | GoLocalProv and Mott & Chace Content Partnership | GoLocalProv.com

The folks at Mott & Chace Sotheby’s International have three homes located in the South County area that offer tremendous features.

The homes are all priced in the $2 million range.

If you need to determine the price of your home – use the Mott & Chace tool that provides three independent prices. CLICK HERE

GET THE LATEST BREAKING NEWS HERE — SIGN UP FOR GOLOCAL FREE DAILY EBLAST

5 Seabury Drive | Westerly, RI | $1,995,000

Listed by Ray Mott & Stephen Murphy

Perched high above the entrance to the Sea Glen Community sits this pristine 3 bed 3.5 bath home on 1.6 acres, with panoramic views of the Atlantic and Winnapaug Pond from every room. Upon entering the foyer, you are captivated by the floor-to-ceiling living room windows, southern facing and full of stunning views of morning sunrises and western sunsets. The expansive kitchen and dining area create a wonderful entertaining space overlooking the southern vistas toward the sea. The first-floor master suite offers an oversized bath with a private deck. The second floor boasts an open floor plan, a casual family room, and two bedrooms with a shared bath. The basement area provides a wonderful, finished space for family activities, entertaining and overflow guest space, along with a full bath, kitchen, and bar. The walkout access to the flat private outdoor setting would be a wonderful future patio space with a pool. This is truly a unique property that combines the essence of the seaside community of Westerly with complete privacy.

600 Main Street | South Kingstown, RI | $2,100,000

Listed by Claudia Philbrick

“Belle Terre” is a truly unique offering of an exceptional historic residence on 10+acres which was once part of a 100-acre heritage farm, now with more than 50 acres preserved in perpetuity. This awe-inspiring oasis in the middle of Wakefield is located just minutes to town, restaurants, shops, hospital, marinas, and beaches. The main residence consists of 5,126 square feet of living space with 5 bedrooms and 4.5 baths. The entry foyer displays a barrel-vaulted ceiling with a grand staircase and chandelier. Original hardwood floors on both levels were milled from beech trees located on-site. The coffered ceiling great room, which spans 50 feet, flows into the formal dining room, with the attached sunporch flanking the length of both rooms. The magnificent views from the sun porch are facing east over fields and stone walls, with mature trees and plantings, including a koi pond. The large eat-in kitchen includes a Viking stove, butler’s pantry, food pantry, attached laundry room, storage room and rear porch. Also on the first floor is a handsome office/library with a fireplace, a charming study with barrel-vaulted ceilings and built-ins, a walk-in coat closet, and a half bath. On the second floor, the primary bedroom has a fireplace, walk-in closet, office, and sleeping porch. There is a guest suite with fireplace and bath, 3 additional bedrooms, 3 additional baths, and an exercise room.

114 Spring Street | North Kingstown, RI | $2,195,000

Listed by Kathy Kourakis

The finest blending of old and new can be found in this desirable Plum Beach summer cottage that has been totally renovated to include an in-law addition sitting on 3/4 acre of beautifully manicured grounds, blooming specimen trees and hydrangeas, gorgeous stone walls and water views. The original character and charm of this “summer home” has been lovingly maintained including fir floors, built-ins, board and batten ceilings and even a sleeping porch that is now a beautiful year-round room. Every room has been updated, the interior freshly painted and kitchen totally renovated in 2021 with 2 walls of sliders overlooking the patio and gardens. 2005 brought the addition of almost 1500 square feet to extend the home for guest quarters or in-laws offering first floor one bedroom and bath, living and dining rooms, a granite kitchen, a loft, and a wraparound mahogany deck for outdoor enjoyment. This home has been a particular treasure to its two owners and has enjoyed its “walk to water” location with deeded beach rights. it is now looking for a new owner to cherish its history and to start making new memories. Opportunity also awaits to apply for membership in the Plum Beach & Tennis Club.

Blog • General • News • Press • Sotheby's International Realty • April 14, 2022

Mott & Chace Sotheby’s International Realty Sells Most Expensive Home in Westport Year to Date

by Mott & Chace Sotheby's International Realty

Mott & Chace Sotheby’s International Realty is proud to announce the sale of the landmark seaside estate at 564 River Road for $2,825,000. The one-of-a-kind private compound is located just steps away from the Westport River. Liz Kinnane, Sales Associate, and Cherry Arnold, Sales Associate: both of Mott & Chace Sotheby’s International Realty, represented the seller and facilitated the sale on behalf of the buyer.

According to Massachusetts MLS PIN, the sale of 564 River Road is the highest Westport sale this year. In the past ten months, Liz Kinnane has represented clients in the top three sales and Cherry Arnold has represented clients in two of the top three sales in Westport.

Featuring spectacular ocean views, this 4.2-acre family compound is located in the highly sought-after Westport Harbor / Acoaxet area. The property features a classic 1890’s main home four-bedroom home, a converted barn with additional summer sleeping quarters, and a two-car garage with in-law apartment on the second level.

“This very special property with unparalleled views, river access, and a shared dock is an idyllic Farm Coast retreat,” says Liz Kinnane.

Cherry Arnold adds, “It has been an honor representing this historic Westport estate.”

With the opening of the seventh Mott & Chace Sotheby’s International Realty office in Westport, the firm’s local Real Estate Experts continue to represent some of the most extraordinary properties along the Farm Coast. With deep knowledge and a proven track record of successfully handling the sale of properties at all price points, the Sales Associates provide property owners with the world-class individual service and property exposure expected when working with a Sotheby’s International Realty® affiliate.

This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from Rhode Island Statewide Multiple Listing Service for the period of 06/01/2021 through 04/07/2022.

Blog • General • News • Press • Sotheby's International Realty • April 14, 2022

Mott & Chace Sotheby’s International Realty Sells Another Top Sale in Barrington

by Mott & Chace Sotheby's International Realty

Mott & Chace Sotheby’s International Realty is proud to announce the sale of 298 Rumstick Road in Barrington for $2,150,000. The seller was represented by Beth Anderson, Sales Associate, and the buyer was represented by MaryBeth Frye, Sales Associate: both of Mott & Chace Sotheby’s International Realty.

According to data available from Rhode Island Multiple Listing Service, this is the highest non-waterfront sale in Barrington since 2014. Additionally, this is the fourth most expensive home sale in Barrington so far this year. Mott & Chace Sotheby’s International Realty represented clients in the sale of the previous highest non-waterfront sale in Barrington just weeks ago.

“This special home has a ton of historic character. It has been a pleasure to represent my clients in this sale,” says Beth Anderson.

The majestic Victorian is located in Rumstick Point and boasts over 4,100 square feet of living space along with deeded water rights. The home features five bedrooms and three- and one-half bathrooms.

“Barrington is a wonderful place to live, and I’m thrilled to welcome my clients to their new home,” says MaryBeth Frye.

Agents of Mott & Chace Sotheby’s International Realty take a sophisticated and artful approach to marketing to unite extraordinary homes with extraordinary lives. Backed by the power of an exclusive luxury brand, the firm continues to raise the bar.

This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from Rhode Island Statewide Multiple Listing Service for the period of 01/01/2022 through 04/15/2022.

Blog • General • News • Press • April 13, 2022

Mott & Chace Sotheby’s International Realty Sells Second Most Expensive Home in Warwick Year to Date

by Mott & Chace Sotheby's International Realty

Mott & Chace Sotheby’s International Realty is proud to announce the sale of 444 Narragansett Bay Avenue for $1,841,000. The seller was represented by Amy I. Doorley-Lucas, Sales Associate, and the buyer was represented by Donna Conway, Sales Associate: both of Mott & Chace Sotheby’s International Realty.

According to data available from Rhode Island Multiple Listing Service, this is the second highest sale in Warwick in 2022. Agents of Mott & Chace Sotheby’s International Realty have represented three clients in the top three sales in Warwick this year, once again demonstrating a deep knowledge of the luxury real estate market.

“Warwick Neck is one of the best kept secrets in Rhode Island, and buyers are starting to realize that,” says Amy I. Doorley-Lucas.

This home, known as the Grinnell-Gerry Estate, is situated on two waterfront acres and features eight bedrooms, five- and two-half baths, and a standalone carriage house as well as an in-ground pool.

“My buyers are thrilled to have found their new home,” says Donna Conway. “This home is the perfect multi-generational property.”

This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from Rhode Island Statewide Multiple Listing Service for the period of 09/01/2021 through 04/13/2022.

Blog • General • News • Press • Sotheby's International Realty • April 12, 2022

Mott & Chace Sotheby’s International Realty Announces Another Top Sale in Little Compton

by Mott & Chace Sotheby's International Realty

Mott & Chace Sotheby’s International Realty is proud to announce the oceanfront home at 44 Beach Drive, Little Compton has sold for $3,800,000. Beth Davis, Sales Associate of Mott & Chace Sotheby’s International Realty, represented the buyer. Welchman Real Estate Group of Keller Williams Coastal represented the seller.

According to data available from Rhode Island Multiple Listing Service, the sale of 44 Beach Drive is the second highest Little Compton sale in 2022. On the heels of 696K West Main Road, the highest Little Compton sale this year, Mott & Chace Sotheby’s International Realty is currently #1 in Little Compton by total sales volume.

“This home is magnificent,” says Beth Davis. “The location is amazing and the unbelievable ocean views make this home a true paradise on Earth. Thank you to my clients who trusted me to guide them through the process of buying a once-in-a-lifetime estate.”

The main residence includes five bedroom and five- and one-half bathroom, while the private guest-suite offers one additional bedroom and bathroom. With private beach access, the seaside home boasts 9,000 square feet of living space with stunning ocean views from almost every window.

Mott & Chace Sotheby’s International Realty agents have a deep and far-reaching knowledge of local markets and understand how to leverage the power of local expertise with the worldwide reach of the iconic Sotheby’s brand.

This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from Rhode Island Statewide Multiple Listing Service for the period of 05/01/2021 through 04/12/2022.

Featured • April 11, 2022

What You Can Buy for Around $700,000

by Mott & Chace Sotheby's International Realty

What You Can Buy for Around $700,000

Saturday, April 09, 2022 | GoLocalProv and Mott & Chace Content Partnership | GoLocalProv.com

The spring selling season is now in full bloom and the folks at Mott & Chace Sotheby’s International have three interesting properties across the region. They range from suburban living with great schools to a mansard roof Victorian in the city — all are offered at about $700,000.

And, if you need to know what your home is worth — take a look HERE — just plug in your address.

GET THE LATEST BREAKING NEWS HERE — SIGN UP FOR GOLOCAL FREE DAILY EBLAST

240 Highland Avenue | Fall River, MA | $700,000

Listed by Cheryl Andreozzi & Lindsey Duckworth

Theodore W Borden House 1872- A Second Empire Victorian with a detached carriage house is listed on the National Register has charming historical details and modern improvements. This is a great opportunity for an investor or buyer looking to own and occupy an investment-income property. This home was built to last by the owners of the Cook Borden Lumber Co. Built as a single-family home it is currently divided into four units-The owners’ quarters on the first and half of the second floor has three bedrooms, two full baths, parlor, library, dining room and kitchen. The other three units each have one bedroom, one full bath and living area with a private entrance. Consistent rental history with on-site parking. Easy highway access to Boston one hour away and Providence 20 minutes away make this the ideal location.

42 Park Avenue | Warwick, RI | $749,900

Listed by Katina Lemme

Tranquility and peace! Walk down the abutting path, strolling through a bird sanctuary, to beach access with stunning ocean views right from your home. Unique opportunity to own a legal multi-family zoned home and cottage, beach access to Long Meadow Fishing Area/Beach with a great location for kayaking. Completely renovated and rebuilt in 2007 with an addition added on, here are just some of the features of this custom home. Oversized lot with 3 to 5 possible beds, 4 1/2 baths,huge master bedroom with a gorgeous walk-in closet, hardwoods throughout, mahogany trim throughout, sprinklers, radiant heat flooring including floor of 2 car oversized garage, 27′ x 29′ great room/media room, wired for surround sound in living room/master bedroom/great room, 8 outside water spigots including one near garage offering hot and cold water, solar heat is almost ready to use with a few updates, two 220 amp circuits in garage for possibly electric car charging station, generator hookup available, even heated wall tile in master bedroom shower! Don’t miss your opportunity to view this very special property. Includes a full in-law or 1 bed cottage with 3 separate entrances, for rental income of approximately $15,000 annually.

7 Agawam Road | Barrington, RI | $785,000

Listed by Kim Holland

Beautifully renovated 4 bedroom 2.5 bath, sun-filled spacious Garrison Colonial located in desirable Hampden Meadows! Inviting open floor plan featuring a light-filled kitchen overlooking a professionally landscaped backyard, custom moldings, wood-burning fireplace living room, custom benches, and cubbies and radiant heated floor in entry, finished play area or office in the finished basement…a bonus sun-filled 13X17 family room with french doors and oversized windows overlooking stone patio and garden. The second floor offers a spacious master bedroom suite with a walk-in glass tiled shower, double vanity sinks, and three additional bedrooms with full baths. Hardwood floors throughout, Central air conditioning, generator, sprinkler system, and a two-car garage. Conveniently located near shopping, Barrington River, Hundred Acre Cove, and Award-winning Blue Ribbon Schools, easy access to Providence and Boston.

Blog • News • Press • Sotheby's International Realty • April 8, 2022

Mott & Chace Sotheby’s International Realty Sells Most Expensive Condo in Tiverton Year to Date

by Mott & Chace Sotheby's International Realty

Mott & Chace Sotheby’s International Realty is proud to announce the sale of the stunning townhouse at 61 Water’s Edge, Unit #17, for $1,195,000. The buyer was represented by Midge Berkery, Sales Associate of Mott & Chace Sotheby’s International Realty. Tom Little of Gustave White Sotheby’s International Realty represented the seller.

Located in the Villages on Mount Hope Bay, this custom-designed condo with high-end finishes features a gourmet kitchen, custom built-ins, and beautiful water views of Narragansett Bay.

According to data available from Rhode Island Statewide Multiple Listing Service, this is the most expensive condo sale in Tiverton in 2022. Affiliates of the Sotheby’s International Realty® brand continue to be a driving force in the luxury real estate market, in the Farm Coast and beyond.

“This beautiful townhouse has it all,” says Midge Berkery. “I am thrilled to have represented my buyers for this fabulous condo with incredible amenities.”

The Villages at Mount Hope Bay is a 55+ community featuring a clubhouse, pool, fitness center, tennis courts, nature trails, and more.

On the heels of the opening of the seventh Mott & Chace Sotheby’s International Realty office in Westport, MA, the firm’s local Real Estate Experts continue to represent some of the most extraordinary properties along the Farm Coast. With deep knowledge and a proven track record of successfully handling the sale of properties at all price points, the Sales Associates provide property owners with the world-class individual service and property exposure expected when working with a Sotheby’s International Realty® affiliate.

Photos courtesy of Gustave White Sotheby’s International Realty. Listing agent: Tom Little.

This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from Rhode Island Statewide Multiple Listing Service for the period of 05/01/2021 through 04/08/2022.