Quarterly Report
IT'S STILL A BUYER'S MARKET!!
Activity has picked up slightly, and buyers are trying to take advantage of the tax credit that expires at the end of April.
There's some indication that the market in southern Rhode Island is recovering, and prices are again headed up. Median selling prices peaked back in 2005, and had been on a downward trend since then. Since March of 2009 prices have been moving slowly upward. Recently there were a total of 950 homes on the market in the six communities that make up Newport County (Newport, Jamestown, Middltown, Portsmouth, Tiverton, and Little Compton). That represents a 15-month inventory of homes available, indicating a strong buyer's market.
Click the link below to review the historical market information for residential properties in the city of Newport.
Annual Report - City of Newport - 2009
