Welcome to this week’s Halloween edition of “On the Market,” where we highlight exciting real estate opportunities featuring open houses throughout Newport County. As we embrace the Fall season, the Rhode Island real estate market is experiencing notable shifts. Inventory levels have seen a gradual increase, but many buyers still face challenges with affordability, particularly as conventional loan rates hover around 7%.
This Fall, we are witnessing a trend of price adjustments across Newport County as sellers react to a more cautious buyer sentiment. Around 25% of all available listings currently on market in Newport County have undergone price reductions in the last month, indicating a market moving toward more balanced conditions after several years of an extreme seller’s market. Open houses are an excellent way to explore available properties, especially on holiday weekends when potential buyers have more time to tour. This weekend, 25 homes will be open for viewing across Newport County, showcasing a diverse range from charming historic residences to contemporary waterfront estates.
While the market remains competitive, we anticipate greater price stability as sellers recalibrate their expectations and buyers engage in more assertive negotiations. Buyers should also keep a close eye on interest rate fluctuations, particularly in light of recent economic reports. With ongoing inflationary pressures and indications that the Federal Reserve may sustain higher interest rates into 2024, the timing of your home purchase could be a crucial factor. Nevertheless, Newport and its surrounding communities continue to be highly sought after, especially with the flexibility of remote work enabling more individuals to consider Aquidneck Island as their permanent home.
As the market continues to evolve this Fall, partnering with an experienced local agent is essential. Tyler Bernadyn, co-owner of RE/MAX Results, offers unparalleled local expertise, a sharp understanding of market trends, and an unwavering commitment to his clients. Whether you’re looking to buy or sell, Tyler is here to guide you through the process. For inquiries or to discuss current market conditions, contact Tyler at 401-241-1851 or via email at TylerB@resultswithremax.com.
Click HERE to see what’s ON THE MARKET in Newport County this weekend
Open Houses on Saturday, October 26, 2024.
Jamestown
- 30 Bonnet View Drive
- Property Type: Single Family
- Time: 11:00AM-1:00PM
- Price: $2,495,000
- Bedrooms: 4
- Bathrooms: 3/1
- MLS#: 1363384
- 7 Clarkes Village Road
- Property Type: Single Family
- Time: 12:00PM-2:00PM
- Price: $2,595,000
- Bedrooms: 3
- Bathrooms: 2/1
- MLS#: 1361987
- 58 Dolphin Avenue
- Property Type: Single Family
- Time: 11:00AM-1:00PM
- Price: $1,325,000
- Bedrooms: 3
- Bathrooms: 3/0
- MLS#: 1369022
Middletown
- 15 Lewis Drive
- Property Type: Single Family
- Time: 11:00AM-1:00PM
- Price: $3,550,000
- Bedrooms: 6
- Bathrooms: 6/1
- MLS#: 1371439
Newport
- 131 Broadway #6
- Property Type: Condominium
- Time: 1:00PM-2:30PM
- Price: $385,000
- Bedrooms: 1
- Bathrooms: 1/0
- MLS#: 1371654
- 131 Broadway #4
- Property Type: Condominium
- Time: 1:00PM-2:30PM
- Price: $665,000
- Bedrooms: 3
- Bathrooms: 1/1
- MLS#: 1371651
- 131 Broadway #3
- Property Type: Condominium
- Time: 1:00PM-2:30PM
- Price: $425,000
- Bedrooms: 1
- Bathrooms: 1/0
- MLS#: 1371647
- 131 Broadway #2
- Property Type: Condominium
- Time: 1:00PM-2:30PM
- Price: $465,000
- Bedrooms: 1
- Bathrooms: 1/0
- MLS#: 1371645
- 131 Broadway #1
- Property Type: Condominium
- Time: 1:00PM-2:30PM
- Price: $365,000
- Bedrooms: 1
- Bathrooms: 1/0
- MLS#: 1371642
- 131 Broadway
- Property Type: 2-4 Units Multi Family
- Time: 1:00PM-2:30PM
- Price: $2,700,000
- Bedrooms: 8
- Bathrooms: 6/1
- MLS#: 1371607
- 8 Cottage Street #1
- Property Type: Condominium
- Time: 1:00PM-2:30PM
- Price: $599,000
- Bedrooms: 1
- Bathrooms: 1/0
- MLS#: 1370910
- 42 Second Street
- Property Type: Single Family
- Time: 10:00AM-11:30AM
- Price: $2,195,000
- Bedrooms: 5
- Bathrooms: 4/1
- MLS#: 1371412
- 19 Cherry Street
- Property Type: Single Family
- Time: 11:00AM-1:00PM
- Price: $2,100,000
- Bedrooms: 4
- Bathrooms: 2/2
- MLS#: 1369893
Portsmouth
- 30 Sandy Point Farm Road
- Property Type: Single Family
- Time: 10:00AM-11:00AM
- Price: $1,300,000
- Bedrooms: 8
- Bathrooms: 5/1
- MLS#: 1347340
- 180 McCorrie Lane
- Property Type: Single Family
- Time: 11:00AM-12:00PM
- Price: $525,000
- Bedrooms: 3
- Bathrooms: 2/0
- MLS#: 1371515
- 11 Narragansett Avenue
- Property Type: Single Family
- Time: 11:00AM-12:30PM
- Price: $1,220,000
- Bedrooms: 4
- Bathrooms: 3/0
- MLS#: 1362332
- 91 Massachusetts Boulevard
- Property Type: Single Family
- Time: 11:00AM-1:00PM
- Price: $515,000
- Bedrooms: 3
- Bathrooms: 2/0
- MLS#: 1370907
- 232 Taylor Road
- Property Type: Single Family
- Time: 11:30AM-1:00PM
- Price: $1,275,000
- Bedrooms: 3
- Bathrooms: 2/1
- MLS#: 1370778
Tiverton
- 109 Kaufman Road
- Property Type: Single Family
- Time: 11:00AM-12:00PM
- Price: $399,000
- Bedrooms: 2
- Bathrooms: 1/0
- MLS#: 1370331
- 270 Riverside Drive
- Property Type: 2-4 Units Multi Family
- Time: 10:00AM-11:30AM
- Price: $850,000
- Bedrooms: 3
- Bathrooms: 2/0
- MLS#: 1361811
Open Houses on 10/27/24
Jamestown
- 20 Marcello Drive
- Property Type: Single Family
- Time: 11:00AM-12:00PM
- Price: $2,995,000
- Bedrooms: 4
- Bathrooms: 4/1
- MLS#: 1368228
Middletown
- 15 Lewis Drive
- Property Type: Single Family
- Time: 11:00AM-1:00PM
- Price: $3,550,000
- Bedrooms: 6
- Bathrooms: 6/1
- MLS#: 1371439
Newport
- 41 EVERETT Street
- Property Type: Single Family
- Time: 12:00PM-2:00PM
- Price: $2,090,000
- Bedrooms: 7
- Bathrooms: 3/1
- MLS#: 1369639
- 41 EVERETT Street
- Property Type: 2-4 Units Multi Family
- Time: 12:00PM-2:00PM
- Price: $2,090,000
- Bedrooms: 7
- Bathrooms: 3/1
- MLS#: 1369643
- 42 Second Street
- Property Type: Single Family
- Time: 10:00AM-11:30AM
- Price: $2,195,000
- Bedrooms: 5
- Bathrooms: 4/1
- MLS#: 1371412
- 33 Middleton Avenue #2
- Property Type: Condominium
- Time: 10:00AM-12:00PM
- Price: $574,900
- Bedrooms: 2
- Bathrooms: 2/0
- MLS#: 1369874
Portsmouth
- 180 McCorrie Lane
- Property Type: Single Family
- Time: 12:00PM-2:00PM
- Price: $525,000
- Bedrooms: 3
- Bathrooms: 2/0
- MLS#: 1371515
- 91 Massachusetts Boulevard
- Property Type: Single Family
- Time: 12:00PM-2:00PM
- Price: $515,000
- Bedrooms: 3
- Bathrooms: 2/0
- MLS#: 1370907
- 232 Taylor Road
- Property Type: Single Family
- Time: 1:00PM-2:30PM
- Price: $1,275,000
- Bedrooms: 3
- Bathrooms: 2/1
- MLS#: 1370778
