What Sold: A look at the 15 homes that exchanged hands last week in Newport County  

Rhode Island, though small in size, has become a cultural destination for many and has quickly cemented itself as one of the most intriguing second home markets for out of state buyers.  Boasting a vast 400-mile coastline adorned with pristine white-sand beaches and charming New England towns, it’s easy to see why the Ocean State has become such a popular destination.  This December, Travel and Leisure published an article that stated Newport County was the #1 place for luxury second home purchases in the entire country.  (Click here to read that article)

Even in today’s real estate landscape where inventory is historically low which is keeping prices competitively high, Newport County retains its allure as the ultimate destination for affluent individuals seeking secondary residences.  Last week, 9 of the 15 home sales that are advertised in this article sold for over $1,000,000 and 4 of those 9 sold for $3,000,000 or more.  Once frequented by illustrious families like the Vanderbilts and Kennedys, Newport County offers a diverse portfolio of leisure pursuits and has attracted a myriad of new money to the community.  The strategic location within easy reach of New York, Boston, and Connecticut renders it an ideal retreat from urban chaos, further enhancing its appeal with simple accessibility.

Rhode Island has witnessed a significant uptick in property prices across all categories, underlining the enduring appeal of this coastal haven and the significant amount of equity that home owners have seen in the aftermath of the pandemic.  These variables paired with higher interest rates over the last 2 years, have proven challenging for entry level buyers or those looking to make a lifestyle change, and most homeowners who have purchased in the last 5 years are finding it hard to justify a move based on their current mortgage payment.  

Interested in seeing what your home might be worth in today’s market or considering taking advantage of this low inventory market?  Looking for professional representation to help assist with your home search?  Tyler Bernadyn of RE/MAX RESULTS is a great resource for your real estate related questions. For more information or to schedule a confidential appointment, click here: HomeWise: Discover the value of your home.  He can also be reached directly at 401-241-1851 or via email at TylerB@resultswithremax.com. 

Click here to see What Sold last week in Newport County:  Click here to see recent sales

• 37 Clarkes Village Road, Jamestown, RI
  • Price: $1,275,000.00
  • Type: Contemporary
  • Bed/Bath: 3 beds / 3 baths
  • Sq. Ft.: 2,180
  • Days on Market: 110
    
• 1532 Green End Avenue, Middletown, RI
  • Price: $3,000,000.00
  • Type: Contemporary
  • Bed/Bath: 4 beds / 3.5 baths
  • Sq. Ft.: 3,396
  • Days on Market: 1
• 424 Third Beach Road, Middletown, RI
  • Price: $2,300,000.00
  • Type: Contemporary
  • Bed/Bath: 3 beds / 2.5 baths
  • Sq. Ft.: 2,728
  • Days on Market: 38
    
• 30 Mann Avenue, Newport, RI
  • Price: $970,000.00
  • Type: Colonial
  • Bed/Bath: 3 beds / 1.5 baths
  • Sq. Ft.: 1,525
  • Days on Market: 6
    
• 4 Gillies Court, Newport, RI
  • Price: $700,000.00
  • Type: Colonial
  • Bed/Bath: 2 beds / 1.5 baths
  • Sq. Ft.: 1,250
  • Days on Market: 36
    
• 38 Dudley Avenue, Newport, RI
  • Price: $689,000.00
  • Type: Ranch
  • Bed/Bath: 4 beds / 2.5 baths
  • Sq. Ft.: 1,549
  • Days on Market: 48
• 1117 Capella South Place, Newport, RI
  • Price: $737,500.00
  • Type: One Level
  • Bed/Bath: 3 beds / 2 baths
  • Sq. Ft.: 1,535
  • Days on Market: 116
    
• 7 Bull Street, Newport, RI
  • Price: $1,300,000.00
  • Type: Apartment
  • Bed/Bath: 6 beds / 4 baths
  • Sq. Ft.: 3,793
  • Days on Market: 73
    
• 23 Holland Street, Newport, RI
  • Price: $980,000.00
  • Type: Up/Down
  • Bed/Bath: 4 beds / 2 baths
  • Sq. Ft.: 1,531
  • Days on Market: 54
    
• 231 Carnegie Harbor Drive, Portsmouth, RI
  • Price: $4,300,000.00
  • Type: Other
  • Bed/Bath: 5 beds / 7 baths
  • Sq. Ft.: 5,270
  • Days on Market: 148
    
• 0 North Harbor Avenue, Portsmouth, RI
  • Price: $3,995,000.00
  • Type: Other
  • Bed/Bath: 5 beds / 5.2 baths
  • Sq. Ft.: 5,498
  • Days on Market: 7
    
• 110 Farmlands Drive, Portsmouth, RI
  • Price: $3,910,000.00
  • Type: Colonial, Contemporary
  • Bed/Bath: 5 beds / 4.2 baths
  • Sq. Ft.: 5,414
  • Days on Market: 161
    
• 0 Newport Harbor (18B) Drive, Portsmouth, RI
  • Price: $1,375,000.00
  • Type: Cottage
  • Bed/Bath: 4 beds / 3.5 baths
  • Sq. Ft.: 3,208
  • Days on Market: 149
    
• 160 Cromwell Drive, Portsmouth, RI
  • Price: $1,125,000.00
  • Type: Contemporary
  • Bed/Bath: 3 beds / 3.5 baths
  • Sq. Ft.: 2,729
  • Days on Market: 4
    
• 12 Corys Court, Portsmouth, RI
  • Price: $765,000.00
  • Type: Colonial
  • Bed/Bath: 3 beds / 3 baths
  • Sq. Ft.: 2,421
  • Days on Market: 40