Each week on What Sold, we take a look at the current state of the Newport County real estate landscape. Over the last few months, it’s clear that the local market continues to remain defined by its inventory challenges. With only 16 properties closing last week, highlighted by the sale of 18 Sachuest for $3,485,000, it’s evident that high demand continues to meet limited supply, resulting in a competitive atmosphere for both buyers and sellers. However, things do seem to be slowing down, with only 2 out of the 16 recent sales closing over the original asking price, suggesting that buyers may have more room for negotiation as the market adjusts.
Despite these strong sales, buyers face a challenging reality: higher home prices continue to reflect the tight supply-demand balance. With interest rates rising more than expected and economic uncertainty surrounding the election results, the market may remain somewhat stagnant in the short term.
The sentiment in the area for homebuyers is one of cautious optimism mixed with anxiety. Rising interest rates and uncertain forecasts have led some potential buyers to pause, which only worsens the inventory crisis. With the holidays on the horizon, most sellers who are not on the market now – will likely opt to try their luck in the Spring. For savvy sellers, however, it remains a favorable time to enter the market, with many still enjoying substantial returns. Nonetheless, as long as inventory remains limited, buyers will continue to compete for suitable homes, adding to the market’s intensity. The story is clear: a market shaped by available inventory—or lack thereof.
Navigating this competitive landscape requires expert guidance. Tyler Bernadyn, co-owner of RE/MAX Results, is here to provide the knowledge and support necessary for a successful transaction. With a deep understanding of the local market and a commitment to client satisfaction and the community, Tyler is dedicated to making your buying or selling experience as seamless as possible. For more information on these recent sales or to schedule a consultation, please reach out at TylerB@resultswithremax.com or direct 401-241-1851.
Here’s a look at ‘What Sold’ last week in Newport County
Jamestown
- 20 Cedar Ridge Trail
- Sales Price: $1,335,000.00
- Type of Property: Colonial
- Bedrooms: 4
- Bathrooms (FB/HB): 3/1
- Square Footage: 2,617
- Days on Market (DOM): 10
- 21 Helm Street
- Sales Price: $1,200,000.00
- Type of Property: Cape Cod, Other
- Bedrooms: 3
- Bathrooms (FB/HB): 2/1
- Square Footage: 2,000
- Days on Market (DOM): 34
- 121 Steamboat Street
- Sales Price: $900,000.00
- Type of Property: Contemporary, Ranch
- Bedrooms: 3
- Bathrooms (FB/HB): 2/0
- Square Footage: 1,288
- Days on Market (DOM): 49
- 431 Sampan Avenue
- Sales Price: $725,700.00
- Type of Property: Colonial
- Bedrooms: 3
- Bathrooms (FB/HB): 2/0
- Square Footage: 1,540
- Days on Market (DOM): 60
- 77 Mast Street
- Sales Price: $700,000.00
- Type of Property: Cape Cod, Cottage
- Bedrooms: 2
- Bathrooms (FB/HB): 1/1
- Square Footage: 1,456
- Days on Market (DOM): 52
Middletown
- 18 Sachuest Drive
- Sales Price: $3,485,000.00
- Type of Property: Contemporary, Cottage
- Bedrooms: 5
- Bathrooms (FB/HB): 5/1
- Square Footage: 4,016
- Days on Market (DOM): 5
- 10 Blue Grass Drive
- Sales Price: $875,000.00
- Type of Property: Colonial, Contemporary
- Bedrooms: 5
- Bathrooms (FB/HB): 3/1
- Square Footage: 2,892
- Days on Market (DOM): 197
- 12 Draper Avenue
- Sales Price: $640,000.00
- Type of Property: Bungalow, Cottage
- Bedrooms: 2
- Bathrooms (FB/HB): 2/0
- Square Footage: 790
- Days on Market (DOM): 171
- 110 Corey Lane
- Sales Price: $675,000.00
- Type of Property: Town House
- Bedrooms: 2
- Bathrooms (FB/HB): 2/1
- Square Footage: 1,460
- Days on Market (DOM): 28
- 16 Race Street
- Sales Price: $570,000.00
- Type of Property: Side/Side
- Bedrooms: 4
- Bathrooms (FB/HB): 2/2
- Square Footage: 2,700
- Days on Market (DOM): 19
Newport
- 103 Champlin Place
- Sales Price: $750,000.00
- Type of Property: Cape Cod
- Bedrooms: 4
- Bathrooms (FB/HB): 2/0
- Square Footage: 2,049
- Days on Market (DOM): 31
- 10 Pond Avenue
- Sales Price: $650,000.00
- Type of Property: Colonial
- Bedrooms: 3
- Bathrooms (FB/HB): 1/1
- Square Footage: 1,232
- Days on Market (DOM): 28
- 14 Pelham Street, Unit #8
- Sales Price: $550,000.00
- Type of Property: One Level
- Bedrooms: 1
- Bathrooms (FB/HB): 1/0
- Square Footage: 545
- Days on Market (DOM): 38
- 30 Perry Street
- Sales Price: $2,495,000.00
- Type of Property: Up/Down
- Bedrooms: 5
- Bathrooms (FB/HB): 5/0
- Square Footage: 3,904
- Days on Market (DOM): 86
Tiverton
- 105 Lazywood Lane
- Sales Price: $665,000.00
- Type of Property: Ranch
- Bedrooms: 3
- Bathrooms (FB/HB): 2/0
- Square Footage: 2,106
- Days on Market (DOM): 50
- 39 Hambly Road
- Sales Price: $455,000.00
- Type of Property: Ranch
- Bedrooms: 3
- Bathrooms (FB/HB): 1/1
- Square Footage: 1,066
- Days on Market (DOM): 31
