Newport County home sales statistics recently shared by the Newport County Board of Realtors (NCBR) paint a picture of an active local housing market in 2019.
According to NCBR, single-family home sale statistics from January 1 st through November 30 th of 2019 indicate that the number of sales grew by nine percent year-over-year in Newport County while the median price of those sales increased from $425,500 to $430,500. The data represents all Realtor-transacted sales shared through State-Wide Multiple Listing Service, a listing information exchange for Realtors in Rhode Island and neighboring Massachusetts and Connecticut.
“Though inventory is scarce, sales activity has increased since last year. Prices are rising but continued low interest rates and a strong economy are helping keep buyers in the market. In the first 11 months of the year, we’ve already surpassed the number of single-family homes sold in all of 2018 and we don’t see any real indication that the market is slowing down,” said Noelle Shiland, president of the Newport County Board of Realtors in a statement.
Single-family homes with a sales price of $301,000 to $500,000 have made up the bulk of this year’s sales in Newport County, followed by those sold from $501,000 to $750,000, according to NCBR. From January through November, nearly ten percent of all single-family homes sold for one million dollars or more, the highest of which was $8,000,000.
The Newport County Board of REALTORS® is comprised of more than 500 REALTORS® and business partners who “work to promote and maintain high standards of conduct in the real estate profession; provide a unified medium for property owners and those professionally engaged in real estate whereby their interests may be safeguarded and advanced; and to further the interest in home and other real property ownership”.