Welcome to this week’s edition of “On the Market,” where we highlight exciting real estate opportunities featuring open houses across Newport County. As we embrace fall, the Rhode Island real estate market is experiencing notable shifts. Inventory levels are gradually increasing, but many buyers face affordability challenges as conventional loan rates remain around 7%. While […]
Real Estate
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Sandy Point Farm auction closes at $2.3 million
The historic Sandy Point Farm in Portsmouth sold at auction Thursday for $2.3 million, despite efforts by a newly formed nonprofit to preserve the property as a community space. The 6-acre estate, once part of a sprawling 280-acre Vanderbilt property, was auctioned off after 37 days of marketing by Sotheby’s Concierge Auctions. The sale is […]
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Jamestown’s “Fowler’s Rocks” sells for record-breaking $12.25 million
A waterfront shingle-style estate in Jamestown has shattered the state’s highest sale record for 2024, fetching a staggering $12,250,000. The sale of 340 East Shore Road, known as “Fowler’s Rocks,” was announced by Lila Delman Compass, who represented the seller. According to the Rhode Island Statewide MLS, this transaction marks the highest single-family home sale […]
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Cities with the fastest-growing home prices in the Providence metro area
The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties. The typical home value in the United States was $360,999 in September, 2.4% higher than the year before. Increasing mortgage rates have slowed growth, […]
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Cities with the most expensive homes in the Providence metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers. The typical home value in the United States was $360,999 in […]
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Just Sold: A look at the 19 Newport County homes that sold last week (Oct. 14 – 18)
The Newport County real estate market remains active, with 19 homes changing hands last week, as reported by the Rhode Island statewide MLS. Despite the onset of fall and cooler weather, buyer interest remains strong, particularly with events and beautiful weather drawing attention to our beautiful region. The market is currently facing significant challenges due […]
Posted inCity & Government, News, Real Estate
Newport’s Housing Paradox: Highest affordable stock; among least affordable homes
Characterizing housing affordability in “crisis,” RI Housing Works at Roger Williams University found only four communities in Rhode Island meeting the state “goal” of achieving 10 percent of its housing stock as Low- and Moderate-Income Housing. That 10 percent figure, established in 1991, is well below actual needs, according to the 2024 HousingWorks RI’s 20th […]
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On the Market: 23 open houses in Newport County this weekend (Oct. 19 – 20)
Welcome to this week’s edition of “On the Market,” where we showcase the latest real estate opportunities featuring public showings throughout Newport County. As we dive deeper into the Fall season, trends in the Rhode Island market reveal some interesting shifts. While inventory levels have started to rise, many buyers are still feeling the squeeze […]
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Home on Division Street in Newport sells for $4.1 Million
A “meticulously renovated Greek Revival residence” at 84 Division St. in Newport sold for $4,100,000 on October 18, 2024. The sale, announced by Hogan Associates Christie’s International Real Estate, marks the sixth highest sale in Newport this year. The property features seven bedrooms, four full baths, and two half baths, including a chef’s kitchen with […]
Posted inCity & Government, News, Real Estate
The number of R.I. communities where a household earning under $100K can afford a home is zero
by Janine L. Weisman, Rhode Island CurrentOctober 18, 2024 And then there were none. Two years ago, households earning under $100,000 a year could afford to buy a home in 14 of Rhode Island’s 39 municipalities. Last year, the number dropped to just one: Central Falls. But as the release of HousingWorks RI’s annual Housing […]
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Little Compton estate sells for $6.5 million
A Little Compton waterfront estate has sold for $6.5 million, marking the highest sale in the town since November 2020, according to Mott & Chace Sotheby’s International Realty, which represented the sellers. The property, located at 21 Atlantic Drive, was sold by the Cooke family, who had owned it for four generations, according to the […]
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What Sold: A look at 18 recent home sales across Newport County (Oct. 7 – 11)
The Newport County real estate market continues to demonstrate consistent activity, with 18 homes changing hands last week, according to data sourced from the Rhode Island statewide MLS. Even with the change in weather and the transition into the fall season, we have some prime weekends ahead, featuring events like Seafood Fest (October 19 and […]
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On the Market: Explore 21 open houses in Newport County this weekend (Oct. 12 – 14)
Welcome to this week’s edition of “On the Market,” where we highlight the latest real estate opportunities featuring public showings across Newport County. Open houses offer an excellent opportunity to explore the market, particularly during a holiday weekend when you may have more time to search for your dream home. In today’s competitive landscape, where […]
Posted inNews, Real Estate
What Sold: A look at the 25 homes that changed hands in Newport County last week (Sept. 30 – Oct. 4)
The Newport County real estate market continues to demonstrate consistent activity with 25 homes changing hands last week according to data sourced from the Rhode Island statewide MLS. Even with the change in weather and move into the Fall season, we have some prime weekends ahead of us with events like the Broadway Street Fair […]
Posted inNews, Real Estate
On the Market: Explore 28 open house listings in Newport County this weekend (Oct. 5 – 6)
Welcome to this week’s edition of “On the Market,” where we spotlight the latest real estate opportunities featuring public showings across Newport County. As inventory slowly begins to rise, many consumers are still grappling with concerns about affordability, especially with conventional loan rates lingering in the low 6% range. Nevertheless, the increasing number of homes […]
Posted inReal Estate
What Sold: A look at 17 recent sales across Newport County (Sept. 23 – 27)
The Newport County real estate market continues to demonstrate consistent activity with 17 homes changing hands last week according to data sourced from the Rhode Island statewide MLS. Even with the change in weather and move into the Fall season, we have some prime weekends ahead of us with events like the Broadway Street Fair […]
Posted inNews, Real Estate
On the Market: 34 Newport County homes hosting open houses this weekend (Sept. 28 – 29)
Welcome to this week’s edition of “On the Market,” where we highlight all the available real estate opportunities with public showings each weekend in Newport County. With inventory appearing to slowly increase, there are still major questions looming in the local community about affordability with rates still in the low 6’s for conventional loans. However, […]
Posted inReal Estate
Sandy Point Farm up for grabs in October auction
A piece of American history is up for grabs as Sandy Point Farm, a former Vanderbilt estate in Portsmouth, heads to auction next month. The property, listed at $3.5 million, will be sold through Sotheby’s Concierge Auctions in cooperation with Mott & Chace Sotheby’s International Realty. Bidding for the historic equestrian estate is scheduled to […]
Posted inNews, Real Estate
Cities with the most expensive homes in Rhode Island
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers. The typical home value in the United States was $362,143 in […]
Posted inNews, Real Estate
Cities with the fastest-growing home prices in Rhode Island
The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties. The typical home value in the United States was $362,143 in August, 2.5% higher than the year before. Increasing mortgage rates have slowed growth, […]
Posted inReal Estate
Newport County real estate market remains active with 22 recent sales
As we enter the last week of September—which is a wild thing to consider—the Newport County real estate market continues to demonstrate consistent activity, with 22 homes changing hands last week, September 16 – 20, 2024. Even with the change in weather and season, we have some prime weekends ahead of us with events like […]
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On the Market : 27 Newport County homes hosting open houses this weekend (Sept. 21 – 22)
Welcome to this week’s edition of “On the Market,” where we highlight the best real estate opportunities in Newport County. With inventory appearing to increase, there are still only four single-family homes in Newport priced under $1 million currently on the market. Open houses remain a valuable way to explore the market, particularly during a […]
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What does the recent Fed decision mean for the local real estate market?
By Tyler Bernadyn and curated by Cam Stewart, Senior Loan Officer, Shamrock CMG Home Loans Cam Stewart, Senior Loan Officer, Shamrock CMG Home Loans You might have seen news about the Fed lowering interest rates and how this could benefit credit cards and mortgages. But what does this mean for the housing market, and when […]
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What Sold: A look at 13 recent sales across Newport County (Sept. 9 – 13)
As we enter into the third week of September, the Newport County real estate market continues to demonstrate consistent activity with 13 homes changing hands last week. Well-priced properties are still demanding immediate attention, with sellers increasingly attuned to the market’s pulse, often setting clear expectations within the first few weeks of listing. Inventory levels, […]
Posted inNews
‘The Playhouse’ on Ocean Drive sells for $9.935 million
A historic landmark on Newport’s Ocean Drive has sold for $9.935 million, making it the second-highest sale in Newport this year, according to data from the Rhode Island Multiple Listing Service. David Huberman and Mike Sweeney of Gustave White Sotheby’s International Realty represented the sellers, while Lee Scura of Residential Properties Originally designed by […]