As we move into the third week of July, we are starting to feel a slight shift in the local real estate market. Overpriced inventory is resulting in a longer ‘days on market’ average and an increasing number of homes are experiencing price adjustments. Properties priced appropriately continue to sell quickly, with sellers gradually realizing that market dynamics should dictate their expectations within a few weeks of being listed.
We can continue to expect a competitive landscape and a deeper buyer pool due to the influx of visitors to our community. For sellers, this high demand coupled with low supply presents a prime opportunity to list their homes and potentially secure favorable deals. Recent sales in Newport County underscore these market dynamics. Quick sales and competitive bidding wars are common, highlighting the need for buyers to be both prepared and proactive.
Navigating this competitive market can be difficult, but working with an experienced real estate professional can provide significant advantages. Tyler Bernadyn, co-owner of RE/MAX Results, offers expert guidance and support throughout the home buying and selling process. With deep local knowledge and a commitment to client satisfaction, Tyler can address any inquiries or concerns, ensuring a smooth and successful real estate transaction.
Tyler is dedicated to helping clients achieve their real estate goals. For questions or personalized assistance, and to explore your options in today’s market, contact Tyler directly at 401-241-1851 or via email at TylerB@resultswithremax.com.
Here’s a look at what sold last week in Newport County: Click HERE to see these recent sales
Little Compton
- Address: 43 South Of Commons Road
Price: $4,000,000.00
Type of Property: Colonial
Bedrooms: 4
Bathrooms: 6
Half Bathrooms: 0
Square Footage: 4,169
Days on Market: 48
Middletown
- Address: 141 Meadow Lane
Price: $845,000.00
Type of Property: Cape Cod
Bedrooms: 3
Bathrooms: 2
Half Bathrooms: 1
Square Footage: 2,052
Days on Market: 86 - Address: 5 Osage Drive
Price: $625,000.00
Type of Property: Raised Ranch
Bedrooms: 3
Bathrooms: 2
Half Bathrooms: 1
Square Footage: 1,176
Days on Market: 29 - Address: 5 Gae Street
Price: $600,000.00
Type of Property: Ranch
Bedrooms: 3
Bathrooms: 1
Half Bathrooms: 0
Square Footage: 1,056
Days on Market: 8
Newport
- Address: 80 Kay Street
Price: $3,500,000.00
Type of Property: Historic
Bedrooms: 5
Bathrooms: 5
Half Bathrooms: 1
Square Footage: 5,000
Days on Market: 114 - Address: 23 Spouting Rock Drive
Price: $1,800,000.00
Type of Property: Colonial
Bedrooms: 2
Bathrooms: 1
Half Bathrooms: 1
Square Footage: 1,638
Days on Market: 24 - Address: 48 William Street
Price: $1,200,000.00
Type of Property: Historic
Bedrooms: 4
Bathrooms: 3
Half Bathrooms: 1
Square Footage: 2,142
Days on Market: 126 - Address: 34 Hall Avenue
Price: $839,000.00
Type of Property: Colonial, Victorian
Bedrooms: 4
Bathrooms: 2
Half Bathrooms: 1
Square Footage: 2,136
Days on Market: 31 - Address: 14 Pelham Street
Price: $559,000.00
Type of Property: One Level
Bedrooms: 1
Bathrooms: 1
Half Bathrooms: 0
Square Footage: 600
Days on Market: 76
Portsmouth
- Address: 0 Newport Harbor (39B) Drive
Price: $1,495,000.00
Type of Property: Cottage
Bedrooms: 4
Bathrooms: 3
Half Bathrooms: 1
Square Footage: 3,210
Days on Market: 149 - Address: 426 Bristol Ferry Road
Price: $1,050,000.00
Type of Property: Ranch
Bedrooms: 4
Bathrooms: 3
Half Bathrooms: 1
Square Footage: 2,691
Days on Market: 60 - Address: 158 Soares Drive
Price: $850,000.00
Type of Property: Colonial
Bedrooms: 3
Bathrooms: 2
Half Bathrooms: 2
Square Footage: 1,789
Days on Market: 23 - Address: 392 Freedom Trail Drive
Price: $829,000.00
Type of Property: Colonial
Bedrooms: 3
Bathrooms: 2
Half Bathrooms: 1
Square Footage: 1,828
Days on Market: 63 - Address: 78 Wampanoag Drive
Price: $715,000.00
Type of Property: Cape Cod
Bedrooms: 4
Bathrooms: 2
Half Bathrooms: 0
Square Footage: 1,807
Days on Market: 16 - Address: 23 Hillside Avenue
Price: $450,000.00
Type of Property: Contemporary
Bedrooms: 3
Bathrooms: 2
Half Bathrooms: 1
Square Footage: 2,121
Days on Market: 94 - Address: 129 Gormley Avenue
Price: $372,000.00
Type of Property: Other
Bedrooms: 3
Bathrooms: 1
Half Bathrooms: 0
Square Footage: 1,540
Days on Market: 84 - Address: 88 Seafare Lane
Price: $525,000.00
Type of Property: Town House
Bedrooms: 2
Bathrooms: 1
Half Bathrooms: 1
Square Footage: 1,362
Days on Market: 6 - Address: 17 Leland Point Drive, Unit#17
Price: $503,000.00
Type of Property: Town House
Bedrooms: 4
Bathrooms: 2
Half Bathrooms: 0
Square Footage: 1,805
Days on Market: 75 - Address: 1 Lagoon Road, Unit#143
Price: $80,000.00
Type of Property: Dock, Slip
Bedrooms: 0
Bathrooms: 0
Half Bathrooms: 0
Square Footage: 0
Days on Market: 80
Tiverton
- Address: 9 Pocasset Avenue
Price: $575,000.00
Type of Property: Cape Cod
Bedrooms: 3
Bathrooms: 1
Half Bathrooms: 2
Square Footage: 1,864
Days on Market: 43
Address: 70 Songbird Lane
Price: $285,000.00
Type of Property: Manufactured/Mobile, Ranch
Bedrooms: 2
Bathrooms: 2
Half Bathrooms: 0
Square Footage: 1,404
Days on Market: 6
