We can expect to see more strong sales and a competitive Spring market ahead.
Recent sales across Newport County continue to reflect a market that is active, competitive, and still driven by limited supply. The week was highlighted by the off-market sale of 381 Gibbs Avenue in Newport for $5,700,000, a significant transaction that underscores the strength of the high-end market, even with conversations about increased taxes for non-owner occupied second homes looming and the Taylor Swift tax slated for effect this summer. Properly priced, well-positioned properties are finding buyers. I often say, if a property is not moving on market, it is likely tied to one of three variables; condition, location, or price.
Across the broader market, we continue to see a familiar pattern. Inventory remains tight while buyer interest continues to grow. As we move further into the spring season, that buyer pool only gets deeper. Warmer weather, seasonal visits, and the natural timing of the market all contribute to increased activity. I think we all felt that this past weekend, for anyone who ventured downtown. Saturday and Sunday felt like it was mid-July with all the activity! For those actively searching, this often means more competition and the need to be prepared when the right opportunity presents itself.
On a personal note, one of the more meaningful moments from this past week was helping my friends and neighbors close on their first home on Bedlow Avenue. It was a great experience guiding them through the process and helping them find a place to call their own. While I will miss having them next door, I am excited for them as they begin their next chapter!
Looking ahead, we expect more inventory to come online in the coming weeks. We are currently preparing several new listings, including some unique and compelling properties that will be hitting the market soon. For buyers and sellers alike, this is an important time to stay informed and ready.
If you have questions about the market or would like to discuss your own plans, I am always available as a resource. Please contact me at 401-241-1851 or TylerB@resultswithremax.com for a confidential consultation about your own real estate goals.
Here’s a look at What Sold last week in our community.
31 Buloid Avenue, Jamestown. Colonial.
Sold Price: $2,100,000
4 beds | 2 full baths | 1 half bath | 3,081 SF
140 Tuckerman Avenue, Middletown. Contemporary, Cottage.
Sold Price: $3,150,000
4 beds | 4 full baths | 1 half bath | 3,139 SF
10 Ocean View Drive, Middletown. Split Level.
Sold Price: $1,900,000
3 beds | 2 full baths | 1 half bath | 1,823 SF
117 Wolcott Avenue, Middletown. Ranch.
Sold Price: $799,000
2 beds | 1 bath | 1,312 SF
381 Gibbs Avenue, Newport. Colonial.
Sold Price: $5,700,000
4 beds | 5 full baths | 1 half bath | 5,420 SF
30 Toppa Boulevard, Newport. Cape Cod.
Sold Price: $907,000
4 beds | 2 full baths | 1 half bath | 1,920 SF
57 Clinton Street, Unit #57C, Newport. Town House Condo.
Sold Price: $790,000
2 beds | 1 full bath | 1 half bath | 1,152 SF
39 Powel Avenue, Unit #1, Newport. One Level Condo.
Sold Price: $725,000
2 beds | 1 bath | 1,270 SF
72 Bedlow Avenue, Newport. Up/Down Multi-Family.
Sold Price: $900,000
4 beds | 2 baths | 3,956 SF
55 Rhode Island Boulevard, Portsmouth. Ranch.
Sold Price: $588,000
3 beds | 1 bath | 1,104 SF
31 Belmont Drive, Portsmouth. One Level Condo.
Sold Price: $640,000
3 beds | 2 baths | 2,039 SF
164 Stoney Hollow Road, Tiverton.
Sold Price: $640,000
3 beds | 2 baths | 1,484 SF
301 Bulgarmarsh Road, Tiverton. Manufactured/Mobile.
Sold Price: $118,000
1 bed | 1 bath | 744 SF
