The local real estate market saw fourteen properties change hands last week, according to data sourced directly from the Statewide MLS. Notably, eleven of these properties sold for less than their original asking price, highlighting a shift in pricing dynamics.
While demand remains steady, strategic pricing and skilled negotiation are becoming increasingly critical for both buyers and sellers. For sellers, setting a competitive price from the start is essential to attract serious buyers and reduce time on the market. Buyers, on the other hand, have opportunities to secure properties at adjusted prices making value-based purchases more attainable.
For those considering a sale in 2024, now is the time to prepare. A strong pricing strategy, effective home presentation, and targeted marketing will be key in maximizing value and drawing competitive offers. Buyers entering the market this year can find opportunities, but navigating negotiations and understanding market trends will be essential to securing the best deal.
Whether buying or selling, expert representation is crucial as we approach what is expected to be a busy Spring market. Partnering with a trusted real estate advisor ensures a competitive edge, informed decision-making, and optimal results.
For market insights, personalized strategies, or a confidential consultation, contact Tyler Bernadyn of RE/MAX Results at 401-241-1851 or via email at TylerB@resultswithremax.com.
Here’s a look at What Sold last week in Newport County.
Jamestown
- 16 Bay Terrace – $3,600,000
- Contemporary
- 4 Bedrooms | 3.5 Bathrooms
- 3,452 sq. ft.
- 0 Days on Market
- 67 Wright Lane – $1,725,000
- Contemporary
- 4 Bedrooms | 4 Bathrooms
- 3,523 sq. ft.
- 230 Days on Market
- 95 Capstan Street – $485,000
- Ranch
- 2 Bedrooms | 1 Bathroom
- 960 sq. ft.
- 37 Days on Market
Middletown
- 138 Oliphant Lane – $995,000
- Colonial
- 4 Bedrooms | 2.5 Bathrooms
- 2,530 sq. ft.
- 86 Days on Market
- 116 #20 Prospect Avenue – $218,000
- Manufactured/Mobile
- 3 Bedrooms | 1.5 Bathrooms
- 972 sq. ft.
- 35 Days on Market
- 386 Green End Avenue, Unit #1 – $449,000
- One Level Condominium
- 2 Bedrooms | 1 Bathroom
- 1,049 sq. ft.
- 46 Days on Market
Newport
- 70 Mill Street – $2,350,970
- Colonial
- 4 Bedrooms | 3.5 Bathrooms
- 2,734 sq. ft.
- 52 Days on Market
- 12 Elm Street, Unit #1 – $1,200,000
- One Level Condominium
- 2 Bedrooms | 2.5 Bathrooms
- 1,865 sq. ft.
- 29 Days on Market
- 36 Kay Street, Unit #1 – $540,000
- One Level Condominium
- 1 Bedroom | 1 Bathroom
- 756 sq. ft.
- 10 Days on Market
- 25 Annandale Road – $789,000
- Multi-Family (Up/Down)
- 2 Units | 2 Bathrooms
- 1,296 sq. ft.
- 298 Days on Market
Portsmouth
- 37 North Drive – $110,000
- Manufactured/Mobile
- 2 Bedrooms | 1 Bathroom
- 744 sq. ft.
- 14 Days on Market
- 1 Tower Drive, Unit #1106 – $800,000
- High-Rise Condominium
- 2 Bedrooms | 3 Bathrooms
- 1,800 sq. ft.
- 20 Days on Market
Tiverton
- 102 Canonicus Street – $480,000
- Ranch
- 3 Bedrooms | 2 Bathrooms
- 1,078 sq. ft.
- 48 Days on Market
- 55 Pierce Avenue – $419,000
- Cottage
- 2 Bedrooms | 1 Bathroom
- 1,301 sq. ft.
- 92 Days on Market
