The year 2020 was unforgettable in essentially every way (understatement alert!), but the performance of the housing market in Rhode Island and nationwide defied expectations.
In Rhode Island, the average sales price for Single Family homes was $325,000 and Multi Family homes was $350,000.
RI saw an increase of 75% of out-of-state Buyers this past year with the predominant number being searched on RI coming from Manhattan. All of my Newport listings in 2020 sold to out of state buyers coming from NYC, CT or MA.
All indications are for a strong first half of the year with inventory still low and interest rates the same. For information on the national housing market read on: 2020 2nd Half in a Nutshell