Mott & Chace Sotheby’s International Realty is pleased to announce The 903 Residences at Providence Place are now more than fifty percent owner occupied. The 903, with its increased owner occupancy, is creating additional financing options for potential buyers with new programs, such as Fannie Mae and Freddie Mac backed approvals, that were previously unavailable.
Mott & Chace Sotheby’s International Realty is the preferred listing partner for the condominium units at The 903 Residences. The specialists, Ben Scungio, Sara Chaffee, Kimberly Marion, and The Blackstone Team, have been instrumental in closing over $24M since the partnership was established in the Fall of 2018. With 65 units closed or in contract, the team at Mott & Chace Sotheby’s International Realty is a driving force in changing the structure of the established condominium association from long term rentals to primarily owner-occupied units.
“The 903 Residences has been in the past viewed as a rental property,” states Ben Scungio, Mott & Chace Sotheby’s International Realty Providence Office Manager and Team Lead for The 903 partnership. “We are now more than half owner occupied and excited to offer incoming clients a compelling opportunity to join the community of proud owners.”
Located close to downtown attractions, the train and the highway, the complex offers amenities that include concierge services, 24-hour fitness center, pool, dog park, movie theater and parking. In-unit amenities feature stainless steel appliances with select units offering gas fireplaces and balconies. The 903 Residences provide a tranquil oasis to call home when you are not exploring the city.
Open every Saturday and Sunday from 12PM – 3PM, please visit The 903 Residences site for more information.
When you think about Rhode Island architecture, the shingle-style homes overlooking the ocean and the colonials that define streets in Providence, Newport and other historical cities may spring to mind.
Modern or contemporary homes? Not so much.
Those styles of homes are less common, but that fact means their listings often generate more interest, in part because they infrequently are offered for sale.
Their prices tend to be above the average, and recent sales indicate buyers are willing to pay.
In April 2019, a modern home with waterfront views in North Kingstown was sold for $2 million, the priciest transaction for the town through the first four months of that year. The 2,283-square-foot home at 51 Pojac Road included a great room with a cathedral ceiling and 9 acres of land.
In October 2019, a contemporary home in Westerly sold for $2.3 million. The property at 30 Williams Ave. was built in 1950 and overlooks Quonochontaug Pond. It sits on a secluded 2-acre parcel.
That same month, a Narragansett house on 3 acres of property overlooking the West Passage of Narragansett Bay was sold for $2.5 million, becoming Narragansett’s second-highest sale of the year at that point. The contemporary at 55 Sea Ridge Drive has water views and covers 3,764 square feet.
Unlike more-traditional Victorians, Capes and colonials, modern homes often are built-to-suit and are unique. They attract an audience of buyers who are design savvy and are particular about their preferences, said real estate agents who specialize in the sales.
Sara Chaffee, a sales associate with Mott & Chace Sotheby’s International Realty, was one of the listing agents for an unusual home in western Coventry, which was sold for $429,000, its asking price.
The rural location might not have screamed luxury or “midcentury modern,” but the photos of the house at 253 Sand Hill Road drove the demand. People were interested in its clean lines and minimalist aesthetic. The house had been completely renovated by the seller over a number of years.
“It was a little tricky to price. There were no specific comps for that property,” Chaffee said. “We had so much activity, we were getting calls from around the country. People were calling from Colorado and California.”
Jim DeRentis, a sales associate for Residential Properties Ltd., estimated that the supply of modern, contemporary homes is probably 10% of the total listings.
Particularly in New England, that style is more scarce.
“It’s a much smaller universe than the more-traditional housing styles,” he said.
And the buying pool is also smaller. Most buyers are looking at function rather than architectural style.
“You’ll get roughly 80% of the buying public more concerned with, ‘How does the house function? Is there an open plan? Is there an attached family room?’ ” DeRentis said. “It’s more about function.”
Buyers looking for modern homes are more discerning. And they are looking for a distinct style.
What is referred to as a “midcentury modern” home dates to the late 1940s to 1970, while contemporary homes may have been constructed at any point. The design is less embellished and often takes into account the outdoors or the landscape, so that windows and doorways are positioned to take in light, or accentuate physical features outdoors, such as a view.
The styles vary but in general, these are distinctive homes.
Many midcentury modern homes were commissioned by their original owners, who may have been influenced by the architectural schools that brought the style forward. A few of these homes are in Rhode Island, DeRentis said.
Right now, DeRentis is working with the original owner of a Providence home, constructed in the 1960s.
More often than not, when they come to market, they have not had alterations that greatly change the layout or appearance.
“People tend to leave them alone,” DeRentis said. “And typically, someone who is buying this [type of] house, it’s specifically for the house. It’s not the location.”
DeRentis has sold one such house three times. Originally built in the early 1980s, the modern contemporary at 51 Prospect St. in Providence has since had several renovations. It most recently was renovated by KITE Architects Inc. and won several architecture awards. (View current offering from KITE Architects, Inc.)
Now owned by a couple with young children, the house stands uniquely apart from its historical neighbors in College Hill. It last sold in January for $2.05 million.
DeRentis, who has sold many modern homes on the East Side of Providence in the past several years, has owned a few himself. “I love all styles of houses, all styles of architecture,” he said. “I just happen to be able to speak enthusiastically about a midcentury or a contemporary house.”
Chaffee has found that younger buyers seem to appreciate the midcentury designs. It may be because the homes often have a streamlined interior and are designed to draw in the light. Or, it could be because they’re different than other houses.
“The way these homes are being renovated is with energy-efficient, sustainable materials,” Chaffee said. “That’s also attracting the millennial buyer.”
To view our contemporary home offerings click here.
The appetite for luxury homes along the Rhode Island coast doesn’t seem to be waning, as evidenced by two transactions above the $10 million mark in 2019. But with the number of high-end sales plateauing in recent years, the question arises: Has the volume of Rhode Island’s luxury market reached its peak?
For nearly a decade, annual sales of homes with a price of $1 million or more soared from a low of 85 in 2009 – in the midst of the Great Recession – to a record-setting 276 in 2018. Yet, for the past three years, the number of luxury transactions has leveled off, with 272 sales in 2017, 276 in 2018 and 274 in 2019, according to data provided by the Rhode Island Association of Realtors.
While a tight supply of high-priced homes may be dampening total sales in some areas, the state’s real estate agents insist Rhode Island’s luxury market still has room to grow.
“In speaking with luxury specialists, the consensus is that there is no expectation of this market subsiding,” said Shannon Buss, president of the Rhode Island Association of Realtors and a broker associate at Randall Realtors. “I spoke with an agent in Newport who is a luxury specialist. He said that homes of significance are consistently entering the market. There is not a concern at this time that inventory will cap.”
In particular, homes with water views continue to be hot commodities and are being priced as such.
Case in point: The Sea Grace estate on Ocean Road in Narragansett, which went on the market in January. The gated, 2-acre waterfront property features a 12,000-square-foot home with six bedrooms and seven baths, a 36-foot infinity pool and lawn that sweeps down to a rocky shoreline. Asking price: $19 million.
“The majority of luxury homebuyers in Rhode Island are looking for some kind of water amenity,” Buss said. “Properties without ocean views or frontage have experienced longer days on market than those offering coastal amenities.”
Cynthia Moretti, a broker at Lila Delman Real Estate in Newport, who represented the buyer of a $5 million property on East Shore Road in Jamestown, acknowledged a “supply-demand imbalance” for waterfront single-family homes. She says it’s caused in part because the wealthy are getting a bigger bang for their buck when buying vacation homes in the Ocean State compared with coastal locations in Massachusetts and Long Island, N.Y.
“I’m anticipating an increase in the sale of our waterfront properties for premium prices,” she said. “People want to live on the shoreline, and they love new construction. Demand is driving the price of properties up and buyers are scooping up coastline lots, or buying property, and rebuilding because turnkey inventory is limited.”
Despite demand for luxury homes, matters beyond Rhode Island’s borders, as well as in the state, could throw a bit of uncertainty into the mix.
“Global economic events, domestic policies and local economic conditions have their effect on the rise or fall of the luxury housing market,” Moretti said. “It’s difficult to know for certain, especially in our current environment, but I remain optimistic that we will see a continued demand for luxury properties, specifically those that are turnkey.”
Despite a slight decline in the number of luxury sales, the demand translated into two mammoth transactions in 2019, both oceanfront homes selling for more than $10 million.
A Bluff Avenue estate near pop singer Taylor Swift’s home in the Watch Hill section of Westerly sold for $17.6 million, while a billionaire tech mogul purchased a mansion on Newport’s storied Bellevue Avenue for $11 million. They ranked first and second on the list of top 10 home sales for the year.
By comparison, the most-pricey home transaction in 2018 was the $9 million purchase by Judy Sheindlin, of “Judge Judy” fame, of a Newport estate called The Birdhouse.
The $17.6 million Bluff Avenue sale last year was believed to be the second-highest-priced residential sale in Rhode Island history, eclipsed only by the $17.75 million Swift paid for her oceanfront mansion a short distance away on the same street in 2013.
Lori Joyal, a broker at Lila Delman and the agent for the seller of the Watch Hill property, said she has “seen an uptick in Rhode Island’s luxury market, as savvy buyers identified great value in waterfront properties when compared [with] markets such as Cape Cod and [Martha’s Vineyard and Nantucket] or the Hamptons [on Long Island].
“The historic sale of 10 Bluff Ave. is a testament to today’s luxury buyer’s appreciation for turnkey properties and the premium associated with this convenience,” Joyal said.
Still, real estate agents acknowledge that move-in-ready inventory at the highest end of the market along the coast is scarce right now.
“A house like this [at 10 Bluff Ave.], with such spectacular beachfront acreage, comes along very infrequently in Watch Hill,” said Donna Simmons, the agent for the buyers and a broker at Mott & Chace Sotheby’s International Realty.
The second-highest sale for 2019 was the purchase of Seacliff mansion in Newport, by tech mogul Larry Ellison for $11 million. Ellison is amassing a collection of Newport mansions. His purchase marks the fourth property in his portfolio on Bellevue Avenue.
The next-highest sale was $8 million for a shoreline property at 609 Beavertail Road in Jamestown. The 7-acre, 8,534-square-foot estate is located on an oceanfront cliff. Mott & Chace represented both sides of the sale.
Judy Chace, the listing agent, said the home “is an architecturally stunning contemporary with dramatic Newport Harbor views and a guest house in perfect condition. The buyer wanted an easy-living, oceanfront family estate that was beautifully designed and move-ready.”
Erin Marsh, the broker who represented the buyer, echoed Chace’s sentiments.
“The coastal luxury/second-home market continues to be strong in Rhode Island, with beautiful, sandy beaches and quaint seaside towns – real estate is viewed as reasonable considering the lifestyle the state offers,” Marsh said.
TOP TEN REAL ESTATE SALES 2019
COURTESY MOTT & CHACE SOTHEBY’S INTERNATIONAL REALTY
1. 10 Bluff Ave. | Westerly
PRICE: $17,600,000
DATE SOLD: Nov. 1, 2019
BUYERS: Paul Cappuccio and Matt Shea
SELLER: Kevin Wendle
BROKER: Mott & Chace Sotheby’s International Realty (buyer); Lila Delman Real Estate (seller)
YEAR BUILT: 1903
BATHROOMS: 8 full, 1 half
BEDROOMS: 9
LIVING SPACE: 10,000 square feet
PREVIOUS PRICE: Originally listed for $18,900,000 in May 2019.
PBN PHOTO/PAMELA BHATIA
2. Sea Cliff | 562 Bellevue Ave. | Newport
PRICE: $11,000,000
DATE SOLD: Jan. 31, 2019
BUYER: Larry Ellison
SELLER: Peter Madden
BROKER: N/A
YEAR BUILT: N/A
BATHROOMS: 4 full, 2 half
BEDROOMS: 5
LIVING SPACE: N/A
PREVIOUS PRICE: Last assessed at $6,800,000 in 2018.
COURTESY MOTT & CHACE SOTHEBY’S INTERNATIONAL REALTY
3. 609 Beavertail Road | Jamestown
PRICE: $8,000,000
DATE SOLD: June 21, 2019
BUYER: Barclays Trust
SELLER: Nelson Northern Properties LLC
BROKER: Mott & Chace Sotheby’s International Realty (buyer and seller)
YEAR BUILT: 1996
BATHROOMS: 5 full, 3 half
BEDROOMS: 5
LIVING SPACE: 8,534 square feet
PREVIOUS PRICE: Originally listed for $8,975,000 in June 2018.
COURTESY GUSTAVE WHITE SOTHEBY’S INTERNATIONAL REALTY
4. 146 Brenton Road | Newport
PRICE: $7,300,000
DATE: Jan. 22, 2019
BUYER: Pumo LLC
SELLER: Anthony W. Ruggiero
BROKER: Gustave White Sotheby’s International Realty (buyer); William Raveis Chapman Enstone (seller)
YEAR BUILT: 1987
BATHROOMS: 6 full, 3 half
BEDROOMS: 5
LIVING SPACE: 6,357 square feet
PREVIOUS PRICE: Originally listed for $7,950,000 in September 2018.
COURTESY MOTT & CHACE SOTHEBY’S INTERNATIONAL REALTY
5. 850 East Shore Road | Jamestown
PRICE: $6,325,000
DATE SOLD: April 22, 2019
BUYERS: Barbara R. Kirk, Karl D. Kirk Jr. and Katherine R. Kirk
SELLERS: Mary G. Long and Ronald E. Long
BROKER: Mott & Chace Sotheby’s International Realty (buyer and seller)
YEAR BUILT: 1680
BATHROOMS: 2 full, 1 half
BEDROOMS: 5
LIVING SPACE: 4,188 square feet
PREVIOUS PRICE: Originally listed for $6,850,000 in June 2018.
COURTESY LILA DELMAN REAL ESTATE
6. 229 Ruggles Ave. | Newport
PRICE: $6,200,000
DATE SOLD: Sept. 30, 2019
BUYER: Midcliff LLC
SELLER: R&D Trust
BROKER: Lila Delman Real Estate (buyer and seller)
YEAR BUILT: 1886
BATHROOMS: 10 full, 1 half
BEDROOMS: 12
LIVING SPACE: 13,748 square feet
PREVIOUS PRICE: Originally listed for $7,700,000 in May 2019.
COURTESY MOTT & CHACE SOTHEBY’S INTERNATIONAL REALTY
7. 35-36 Beach Drive | Little Compton
PRICE: $5,075,000
DATE SOLD: May 29, 2019
BUYER: Christopher and Julie Darnell
SELLER: Donald F. and Eleanor B. O’Neill
BROKER: Keller Williams Realty Group (buyer); Mott & Chace Sotheby’s International Realty (seller)
YEAR BUILT: 1987
BATHROOMS: 4 full, 1 half
BEDROOMS: 4
LIVING SPACE: 4,178 square feet
PREVIOUS PRICE: Originally listed for $5,075,000. Date N/A.
Courtesy Lila Delman Real Estate
8. 238 East Shore Road | Jamestown
PRICE: $5,000,000
DATE SOLD: May 31, 2019
BUYER: Seaspray LLC
SELLER: Jamestown Cottages Co. LLC
BROKER: Lila Delman Real Estate (buyer and seller)
YEAR BUILT: 2018
BATHROOMS: 3 full, 1 half
BEDROOMS: 4
LIVING SPACE: 3,540 square feet
PREVIOUS PRICE: Originally listed for $5,750,000 in July 2018.
COURTESY MOTT & CHACE SOTHEBY’S INTERNATIONAL REALTY
9. 66 Williams St. | East Side of Providence
PRICE: $4,600,000
DATE SOLD: Dec. 18, 2019
BUYER: Lorne A. Adrain
SELLER: Jocelin Hamblett
BROKER: CrossRoads Real Estate Group (buyer); Mott & Chace Sotheby’s International Realty (seller)
YEAR BUILT: 1810
BATHROOMS: 5 full, 4 half
BEDROOMS: 6
LIVING SPACE: 11,790 square feet
PREVIOUS PRICE: Originally listed for $5,500,000 in February 2019.
Courtesy Lila Delman Real Estate
10. 40 Newton Ave. | Narragansett
PRICE: $4,500,000
DATE SOLD: April 15, 2019
BUYER: Michael J. Gretz
SELLER: Guy Lancellotti III
BROKER: Island Realty (buyer); Lila Delman Real Estate (seller)
YEAR BUILT: 1884
BATHROOMS: 7 full, 1 half
BEDROOMS: 5
LIVING SPACE: 8,882 square feet
PREVIOUS PRICE: Originally listed for $6,495,000 in August 2017.
55 Fox Drive | Narragansett | $459,000 This bright and beautiful condominium is privately set between Narragansett’s Ocean Road and Point Judith Road. A winding driveway adorned with perennials leads you to the entryway of this light filled unit featuring an open concept floorplan, oversized windows, and hardwood floors. With copious amounts of storage, central air, a one car garage, and ample guest parking this like-new unit is a wonderful opportunity for those looking for a vibrant beach town.
2 Bedrooms | 2.1 Bathrooms | 1,650 Square Feet Listed by Kelly Holmes | 914.497.7603 | kelly.holmes@mottandchace.com
214 New Meadow Road | Barrington | $450,000 This well-maintained and inviting tri-level home features an open floor plan and an updated spacious kitchen with granite countertops, stainless steel appliances, and a center island. Perfect for entertaining, you will find a wood burning fireplace, hardwood floors and plenty of natural light. The private fenced in yard is complete with a deck, sprinklers and a fire pit. Conveniently located in a family-friendly town home to several historic districts.
10 Exchange Court, Unit #604 | Pawtucket | $475,000 Located downtown in the Riverlofts, this west facing unit offers unobstructed views of the Blackstone River and Providence skyline from the 160 -foot outdoor porch. Boasting a large eat-in kitchen, living, and dining space on the first floor, mezzanine level with endless potential, and a large master suite on the third floor, this three-level condominium features tall ceilings, extra-large windows, creative built-ins and modern conveniences of a city on the move.
Mott & Chace Sotheby’s International Realty is excited to introduce The Blackstone Team, a new class of real estate team bringing together the talents of agents Nelson Taylor and Robert Rutley. Formerly known as Taylor & Associates,The Blackstone Team includes Nelson Taylor, maintaining his role as Managing Partner; Robert Rutley, newly appointed Partner; Robin Lake, Client Coordinator; Benjamin Kean, Associate Agent; and introduces Karen Wilder and Ben Guglielmi as Associate Agents. “I am happy to join Nelson in the next evolution of Providence real estate,” Rutley says. “Our combined experience will elevate our high standard of hard work, integrity and honesty. While we are powerful agents in our own rights, this next level of collaboration will give us a greater ability to offer the best service and advice to our clients.”
The Blackstone Team is revolutionizing the team approach to real estate by continuing to expand its collaborative, familial-style business model, including coordination staff, personal marketing funds, support structure, profit sharing, and retirement packages. Additionally, the team is making strides to innovate within the industry by pledging a higher level of fiduciary responsibility; demanding a fair, honest and even marketplace amongst its colleagues; and lobbying for the end of the practice of Dual Facilitation.
“From this moment forward,” Taylor says, “we will not practice Dual Facilitation, the double-ending of real estate transactions.” Dual Facilitation, legal in Rhode Island, is the practice of a single agent assisting both the buyer and seller in a single transaction without representing either party and earning both sides of the commission. “We believe strongly that every client deserves full representation,” Rutley says. “The Blackstone Team will be working with local and national boards of REALTORS to end the practice in Rhode Island and beyond.”
The Blackstone Team will continue to elevate their relationship with the Mott & Chace Sotheby’s International Realty brand. “We look forward to continuing to leverage the world class marketing and presence available to us and our clients,” Taylor says. Rutley adds, “We’ve worked hard to build lasting relationships with the agents within the Sotheby’s International Realty brand regionally, nationally and internationally. Not only are we partners in marketing our properties to more than just the local marketplace, but we know where buyers are coming from and we have relationships in markets around the world.”
“We have taken a pivotal step of turning the me into a we in order to better serve our clients, each other as agents and the communities in which we work,” Rutley says. About the name, Taylor explains, “Blackstone represents so much in the marketplaces in which we work. It’s the last name of one of our first settlers. It’s become a street, a boulevard, a neighborhood, a school, a historical society, a canal, a river and a valley—just to name a few. Synonymous with community in Rhode Island, Blackstone is a part of our local heritage.”
The Blackstone Team at Mott & Chace Sotheby’s International Realty can be found online at www.the-blackstoneteam.com, by calling 401-214-1524, or in Providence at Waterplace, 100 Exchange Street.
Mott & Chace Sotheby’s International Realty is proud to announce the sale of 450 Poppasquash Road for $1,862,500. The home, located on over three acres on Poppasquash Point, features views of the Narragansett Bay from nearly every room. Raymond Mott, Co-Owner/ Broker of Mott & Chace Sotheby’s International Realty, represented the buyers. The Kirk Schryver Team of Residential Properties, Ltd. represented the seller.
The custom built four bedroom and four- and one-half bathroom contemporary home is the highest sale in the historic town of Bristol since September of 2019, according to data supplied by Rhode Island Multiple Listing Service.
“This home is on a wonderful site”, says Raymond Mott. “It is perched at the crest of a hill with a lawn that rolls casually to the water’s edge and faces west to capture the sun’s decent.”
Agents of Mott & Chace Sotheby’s International Realty represented clients in three of the top five sales in Bristol in 2019. According to data available from Rhode Island Multiple Listing Service, the firm finished last year with 47% of the total market share over $1M in Bristol County, more than any other firm.
Mott & Chace Sotheby’s International Realty is proud to announce the sale of 200 Exchange Street Unit #1514 for $1,200,000. The condominium, located on the 15th floor of “Waterplace”, features nearly 2,000 square feet of recently renovated space in the heart of the city. The buyers were represented by Lise Holst, Sales Associate, Mott & Chace Sotheby’s International Realty. The sellers were represented by the Greene / Sweeney Team of Residential Properties, Ltd.
The sale of this two bedroom and two and one half bathroom high rise condominium comes on the heels of several top Providence condominium sales for the firm. Liz Andrews, Sales Associate of Mott & Chace Sotheby’s International Realty, represented the sellers of the highest sale at “The Residences Providence” in 2018 and Kimberly Marion, Sales Associate, represented the buyers of the highest sale there in 2019. This is the highest sale “Waterplace” Sale since 2016 when Ben Scungio, Sales Associate, represented the seller of a penthouse unit. *
Lise Holst says, “I had the pleasure of representing the buyers of this elegant and spacious Waterplace condominium in Downtown Providence. Truly one of the city’s premier luxury residences, this custom-designed unit is perched high above the city on the 15th floor and, with three exposures, offers spectacular views to the south, east and west.”
Mott & Chace Sotheby’s International Realty has done over $15M in volume sales of Providence condominiums and, more than any other firm, holds 20% of the market share since June 2019. *
*According to data supplied by the State-Wide Multiple Listing Service.
A company is defined by its culture. A culture is defined by its people. It’s time to expect better.
Mott & Chace Sotheby’s International Realty is the vanguard of prestige property in the Rhode Island real estate market. We were founded in 2013 and share nearly three centuries of heritage with the Sotheby’s Auction House in marketing the world’s most cherished possessions. Our remarkable story has been one of ambition, foresight, and inspiration. In the last six years, we have established ourselves as the luxury leader in residential real estate by focusing on innovative technology and unrivaled service.
The culture of Mott & Chace Sotheby’s International Realty is defined by its people. We are particularly proud of all of the exceptional sales associates and employees across our six offices, who provide personalized service and local expertise that help clients achieve their dreams. Our company’s reputation of integrity is one we do not take lightly. Honesty and discretion are paramount to our vision of success as a firm that caters to the unique needs of each client.
We understand, unlike any other, that a home is an investment in your future – we believe you deserve better. Better marketing. Better expertise. Better results. Overall, a better experience. Partnering with Mott & Chace Sotheby’s International Realty means your home is expertly marketed by the world-renowned, exclusive luxury brand with associates who are committed to raising the bar.
It’s time to expect better.
Sincerely, Ray Mott & Judy Chace
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 non-MLS sales, StateWide Multiple Listing Service, Inc., MLSPIN, and SmartMLS for RI, MA, and CT for SFM, MFM, CND, CMM and VLD listings for the period of 1/1/2019 through 12/31/2019.
With a combined history of success and a reputation for representing Rhode Island’s finest properties, Mott & Chace Sotheby’s International Realty was founded by Judy Chace and Ray Mott in 2013. The firm has an established record of providing exceptional customer service to their national and international clientele with six offices in Rhode Island in Barrington, Charlestown, East Greenwich, Narragansett, Providence and Watch Hill. Mott & Chace Sotheby’s International Realty combines local expertise with a world-renowned brand.
Mott & Chace Sotheby’s International Realty is pleased to release the Rhode Island real estate single family home statistics for December 2019. The median asking price for new listings increased 9.2%, while the median home price of sold listings increased 8.1%. The supply of inventory decreased from 6.0 months to 2.1 months when compared to the same time period last year. Additionally, the average days on market decreased 3.6% in December 2019 when compared to last year.
Read the full report below:
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Mott & Chace Sotheby’s International Realty is pleased to announce the sale of both 41 Highland Road for $1,895,000 and 14 Highland Road for $1,700,000. Ray Mott, Broker/Co-Owner of Mott & Chace Sotheby’s International Realty represented all parties in the transactions.
According to data available from Rhode Island Multiple Listing Service, the sale of 41 and 14 Highland Road are the seventh and twelfth highest sales in Charlestown this year, respectively. Agents of Mott & Chace Sotheby’s International Realty have represented clients in half of the Charlestown sales over $1M in 2019. For the second year in a row, Mott & Chace Sotheby’s International Realty has the highest market share in Charlestown.
Ray has sold many properties in the Quonochontaug area this year. His sales for the year include 75 Surfside Avenue, located in Central Beach, 28 Highland Road, 196 Sea Breeze Drive, and 506 East Beach Road. His neighbor at 41 Highland Road contacted Ray with interest to purchase his listing at 14 Highland. Simultaneously, he was working with a buyer searching for a property in the Quonnie neighborhood when 41 Highland Road became available. Ray was able to secure sales agreements for both properties in one weekend, and both sales closed two weeks later.
“This year is closing with two more significant sales for us,” says Ray Mott. “We have a continued presence in Charlestown that we are ready to bring into 2020.”
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