As the weather continues to warm up, so does the Newport County real estate market. We’re seeing more homes come to market than we’ve seen in months, which is typical for this time of year but that doesn’t mean the landscape has shifted away from being a seller’s market. If anything, low inventory and strong demand continue to give sellers the upper hand.
That said, there’s been a noticeable change in buyer behavior. With economic uncertainty and constant news about interest rates, some buyers are temporarily pumping the brakes. But here’s the truth: rates aren’t expected to drop significantly anytime soon. Historically, today’s mortgage rates are still below the 54-year average, and waiting it out might not pay off in the long run.
I always say hindsight is 20/20 and the best time to buy was yesterday. The second-best time is today. And that advice goes both ways for sellers, too.
If you’re lucky enough to own real estate in Newport County, it’s worth finding out what your property is truly worth in today’s market. Prices have remained strong, and with inventory still tight, there’s an opportunity to stand out and capitalize before more competition hits the market later this year. Even if you’re not ready to make a move just yet, having a plan and understanding your home’s value is always a smart move especially if you’ve been on the fence. I offer confidential, no-strings-attached consultations to help you understand your options, your equity, and your next steps.
If you’d like to schedule a home valuation or simply want to talk through your timing and goals you can call or text me directly at 401-241-1851. I’m happy to be a resource whether you’re thinking of selling in six days or six months.
Let’s make sure your next move is a smart one. Here’s a look at What Sold last week in Newport County.
Jamestown
• 431 Felucca Avenue – Sold for $860,000 | 3 Bed | 2.5 Bath | 1,786 Sq Ft | 15 Days on market
• 19 Sloop Street – Sold for $675,000 | 1 Bed | 1.5 Bath | 1,344 Sq Ft | 43 Days on market
Little Compton
• 16 Pleasant View Drive – Sold for $527,000 | 2 Bed | 1 Full, 2 Half Baths | 1,238 Sq Ft | 15 Days on market
Middletown
• 267 Prospect Avenue – Sold for $2,000,000 | 4 Bed | 3 Bath | 2,982 Sq Ft | 129 Days on market
• 39 Mariner Way – Sold for $469,500 | 2 Bed | 1.5 Bath | 944 Sq Ft | 57 Days on market
Newport
• 15 Curry Avenue – Sold for $700,000 | 3 Bed | 1 Bath | 1,296 Sq Ft | 32 Days on market
• 40-42 Catherine Street – Sold for $2,050,000 | 5 Bed | 4 Bath | 6,556 Sq Ft | 35 Days on market
Portsmouth
• 206 Immokolee Drive – Sold for $1,750,000 | 5 Bed | 3 Bath | 2,500 Sq Ft | 24 Days on market
• 20 Portsmouth Lane – Sold for $1,695,000 | 4 Bed | 3.5 Bath | 3,600 Sq Ft | 0 Days on market
• 346 Freedom Trail Drive – Sold for $761,600 | 3 Bed | 2.5 Bath | 1,597 Sq Ft | 30 Days on marketTiverton
• 85 Morning Dove Drive – Sold for $675,000 | 3 Bed | 2 Bath | 1,845 Sq Ft | 25 Days on market
• 35 Hambly Road – Sold for $477,500 | 3 Bed | 1 Bath | 1,176 Sq Ft | 44 Days on market
• 45 Starboard Drive, Unit #330 – Sold for $869,900 | 2 Bed | 2 Bath | 1,492 Sq Ft | 83 Days on market
