BlogMarket Report September 14, 2020

The August 2020 Rhode Island Real Estate Market Report

Mott & Chace Sotheby’s International Realty is pleased to release the Rhode Island real estate single family home statistics for August 2020. The median asking price for new listings increased 10.0%, while the median home price of sold listings increased 12.7%. The supply of inventory decreased from 4.7 months to 0.9 months when compared to the same time period last year. Additionally, the average days on market decreased 14.5% in August 2020 when compared to last year.

Single family home sales prices have stayed elevated year-over-year, likely due to a significant lack of inventory. COVID-19 has likely contributed to fewer available properties, with less than one month’s supply of inventory in August 2020 – the lowest in years. Sellers of well-priced homes are often receiving multiple offers that create bidding wars, leading to an average sales price to list price ration that is above 100% – the highest ratio the Rhode Island Market has seen in years.

Read the full report here.

BlogNewsPressSotheby's International Realty September 14, 2020

Mott & Chace Sotheby’s International Realty Announces Significant Sale in South Kingstown by Kelly Holmes, Judy Chace, and Karen Follett

Mott & Chace Sotheby’s International Realty is pleased to announce the sale of 830 Charlestown Beach Road for $2,150,000. The seller was represented by Kelly Holmes, Sales Associate and Judy Chace, Co-Owner/Broker: both of Mott & Chace Sotheby’s International Realty. The buyer was represented by Karen Follett, Sales Associate of Mott & Chace Sotheby’s International Realty.

The sale of 830 Charlestown Beach Road is the fourth highest sale in South Kingstown this year, according to data available from Rhode Island Statewide Multiple Listing Service. The listing was featured in major publications such as Curbed and The Financial Times. 

“Our firm continues to make its mark on luxury real estate all over Rhode Island,” says Judy Chace. “We represent one of a kind, extraordinary homes with unparalleled expertise. This thoughtful and unique home is ready for its next owner.”

Sited between Charlestown Beach & Green Hill Pond, with panoramic Atlantic Ocean views to Block Island, Charlestown Breachway and beyond, this home offers a design aesthetic that is equal parts contemporary and coastal. Custom built by Albert Garcia of Kite Architects in tandem with Mike Cabral of Newport Renewables, this unique, zero-net energy ready beach house offers reverse- level living with oversized and angled windows to maximize, light, privacy, and the water views. Nearly 2,000 square feet of living space features three bedrooms, two- and one-half bathrooms, and an open floorplan enriched by large sliding glass doors that lead to the upper deck.

“This home is truly singular in it’s beachfront location, stunning design, and outstanding engineering,” adds Kelly Holmes. “It was an absolute pleasure to represent one of Southern Rhode Island’s most magnificent beach houses.”

“Built with energy efficiency and sustainable materials, this home incorporates passive solar techniques,” states Karen Follett. “The new owners are thrilled to call 830 Charlestown Beach Road home.”

BlogFeaturedNewsPressSotheby's International RealtyUncategorized September 9, 2020

Mott & Chace Sotheby’s International Realty Announces Significant Sale in Jamestown by Judy Chace and Erin Marsh

Mott & Chace Sotheby’s International Realty announces the sale of 27 Newport Street for $3,078,500. Judy Chace, Broker/Co-Owner, and  Erin Marsh, Sales Associate: both of Mott & Chace Sotheby’s International Realty represented the seller. Caroline Richards of Hogan and Associates represented the buyer.

According to data available from Rhode Island Statewide Multiple Listing Service, the sale of 27 Newport Street is the 8th highest sale in Jamestown this year. With this sale, Mott & Chace Sotheby’s International Realty has represented seven clients in the top ten Jamestown sales this year, more than any other firm.

Channel Bells offers stunning panoramic views of the Atlantic Ocean, Newport Bridge and the rocky cliffs of Fort Wetherill. Beautifully sited on 2.5 private, elevated acres, this six-bedroom, four-and-a-half-bathroom estate offers memories for a lifetime.

Named for the musical sounding channel markers nearby, this late 19th century C. Bevins designed shingle style classic has been thoroughly and sensitively renovated, upgraded and expanded.

“The sale of Channel Bells is another testament to the desirability of Jamestown,” says Judy Chace. “We were able to manage multiple offers on this property and ultimately secured well above asking price for our clients.”

Erin Marsh adds, “Our success is a direct result of our expert market knowledge, client care and dedicated marketing. We are proud to continue to lead the luxury market in Jamestown.”

Uncategorized September 9, 2020

Mott & Chace Sotheby’s International Realty Announces Significant Sale in Narragansett, RI by Kelly Schneider

Mott & Chace Sotheby’s International Realty is pleased to announce the sale of 195 Ocean Road for $1,350,000. 

Kelly Schneider, Sales Associate of Mott & Chace Sotheby’s International Realty represented the buyer. Pawler Garrahan of Lila Delman represented the seller.

The restored Victorian in the heart of Narragansett Pier offers ocean views and a two-bedroom rental unit with private entrance and patio.

BlogFeaturedPressSotheby's International Realty August 31, 2020

Mott & Chace Sotheby’s International Realty Announces Significant Sale in Watch Hill by Donna Simmons

Mott & Chace Sotheby’s International Realty is pleased to announce the sale of 11 Westerly Road for $3,250,000. The historic home, Inglecote, is the oldest house in the seaside village of Watch Hill, Rhode Island. Donna Simmons, Sales Associate with Mott & Chace Sotheby’s International Realty represented the seller and facilitated the sale for the buyer.

Dating back to 1733, this historic, coastal chic farmhouse began life as the main farmhouse for a 133-acre farm.  Over the years, parcels of the land were sold off however, this house still retains the essence of the quintessential farmhouse with roughhewn beams inside, original wide plank floors and the original windowpanes which make this house a true one-of-a-kind property.

According to data from Rhode Island Statewide Multiple Listing Service this is the third highest sale in Westerly so far in 2020. Agents of Mott & Chace Sotheby’s International Realty have represented clients in all of the top twelve sales in the municipality this year. Donna Simmons has sold over $60,000,000 in real estate since the beginning of 2019 in the Watch Hill and Westerly marketplace.

“Named Inglecote, meaning a cozy, hearth-filled protective structure, certainly lives to its name with four wood burning fireplaces, one of which can be used for cooking and grilling in the kitchen!  This house combines the best of old and new with freshly done floors and walls all showcasing Inglecote’s rich history and a real plus is that the new owner has a deep and abiding love of antique homes”, says Donna Simmons.

 

Activity ReportBlog August 30, 2020

Rhode Island Real Estate Activity Numbers | August 16 to 22, 2020

Please find the latest weekly comparisons for the state of Rhode Island.

There was not a significant difference from last week’s numbers. The properties newly listed were relatively flat in comparison to the same time period last week and still significantly below 2019 levels. Historically the end of August has been a slow week for new inventory but our expectation is that new inventory will increase once we start the fall season.
The properties under agreement have trended down for the past two weeks due to limited inventory but remain above 2019 levels since May.
 The sold properties showed a slight increase from the prior week but are still below 2019 levels.
To learn what this may mean for you, please contact one of our talented real estate specialists. www.mottandchace.com/agents
BlogFeaturedNewsPressSotheby's International Realty August 27, 2020

Mott & Chace Sotheby’s International Realty Announces Significant Sale in Middletown by Beth Davis and Kylie McCollough

Mott & Chace Sotheby’s International Realty is pleased to announce the sale of 115 Howland Avenue for $1,901,000. The seller was represented by Beth Davis, Sales Associate and Kylie McCollough, Sales Associate: both of Mott & Chace Sotheby’s International Realty. The buyer was represented by Gloria Dunn of Gustave White Sotheby’s International Realty.

Selling for more than double the asking price, the sale of 115 Howland Avenue is the seventh highest residential sale in Middletown this year, according to data available from Rhode Island Statewide Multiple Listing Service.

“This was a once in a lifetime offering,” says Beth Davis. “The historic barn is sited on the conserved land and this tranquil setting was previously home to a popular English riding school, “Valley View Stables”.

The three parcels included in the sale total 15 acres of picturesque pastoral farmlands, surrounded by stone walls located less than one mile from Third Beach. With an existing farmhouse dating back to 1840, the property includes a nearly two acre buildable lot. Two additional lots total over 13 acres protected by the Aquidneck Land Trust.

“A country paradise on the New England Coast,” states Kylie McCollough. “Middletown is one of Rhode Island’s earliest settlements with a rich and diverse cultural heritage dating back to 1743.”

Activity ReportBlog August 25, 2020

Rhode Island Real Estate Activity Numbers | August 9 to 15, 2020

Please find the latest weekly comparisons for the state of Rhode Island.

There is little change from the prior week’s activity.  The number of properties listed continues to lag behind the 2019 numbers.
The properties under agreement have been trending up since May.
The sold properties, while still behind 2019 on a YTD basis, are showing slight increases.
The trends continue with increases in list prices, sold prices and very limited inventory.
It continues to be a robust seller’s market with unprecedented numbers of multiple offer situations.  As we approach the fall market, please contact one of our talented real estate specialists to learn what this may mean for you. www.mottandchace.com/agents
FeaturedNewsPressSotheby's International Realty August 24, 2020

Mott & Chace Sotheby’s International Realty Announces Significant Sale in Newport by Kylie McCollough

Mott & Chace Sotheby’s International Realty is pleased to announce the sale of 529 Bellevue Avenue for $2,575,000. The buyer was represented by Kylie McCollough, Sales Associate, Mott & Chace Sotheby’s International Realty. The seller was represented by Elena Wilcox of Gustave White Sotheby’s International Realty.

According to data available from Rhode Island Statewide Multiple Listing Service, the sale of 529 Bellevue Avenue is the seventh highest residential sale in Newport this year.

The stately residence on famed Bellevue Avenue is sited on 1.23 private acres and boasts nearly 7,000 square feet of grand living space including five bedrooms, four bathrooms and three half bathrooms. A sophisticated design, the home was built in 2006 and is complete with modern amenities.

“Newport is a special place,” says Kylie McCollough. “This destination by the sea is perfect for my clients and I am proud to have represented them in this sale. Mott & Chace Sotheby’s International Realty continues to bring the white glove service to Aquidneck Island.”

 

FeaturedGeneralSotheby's International Realty August 18, 2020

Mott & Chace Sotheby’s International Realty Over $1M Sales | August 2020

Mott & Chace Sotheby’s International Realty is proud to announce the following over $1M Sales of August 2020

August 11, 2020 | East Side Of Providence 

6 Olive Street has sold for $1,170,000

Seller Representation: Liz Andrews, Sales Associate at Mott & Chace Sotheby’s International Realty

Buyer Representation: Stephanie Basile, Lila Delman Real Estate

Fourth Highest Sale East Side of Providence This Year

August 12, 2020 | Barrington 

139 Rumstick Road has sold for $1,100,000

Seller Representation: David Coleman, Sales Associate/ Barrington Office Manager at Mott & Chace Sotheby’s International Realty

Buyer Representation: John Biafore, Lighthouse Real Estate Group

Twelfth Highest Sale in Barrington This Year

 

August 17, 2020 | Bristol

54 Viking Drive has sold for $1,175,000

Seller Representation: Lynda Terhune, Sales Associate at Mott & Chace Sotheby’s International Realty

Buyer Representation: Hillary Olinger, Hogan Associates

Fifth Highest Sale in Bristol This Year