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Rhode Island Market Update – Year in Review

We are just over a month into the new year, and 2021 is already shaping up to be a strong year in Rhode Island sales. As we analyze the market on a daily basis and monitor trends to keep our clients informed, it is also important to keep recent data in mind as we move forward.

2020 was a strong year in Rhode Island home sales. The year ended with a median sales price of $325,000 for single-family homes, which was a 14% increase from December 2019. According to the Rhode Island Association of Realtors, the monthly median price rose year-over-year every month in 2020, with nine of those months seeing double-digit increases.

In December, condominium and multi-family property sales increased by more than 39% year-over-year. The median price for a condominium was $250,000, and the price of a multi-family was $338,250, increasing by 11% and 19%, respectively.

The number of buyers from out-of-state increased by 75% from 2019, and we expect that trend to continue with the way COVID has transformed our work routines and daily lives. It’s no wonder that buyers are choosing southern New England!

Chart House Realtors & Keller Williams: 2020 Success

In 2020, Keller Williams was the top-selling real estate brand across the entire state, with an impressive $1,200,000,000 in sales volume!

The Chart House Realtors team closed nearly $50,000,000 in sales, and ranked #1 among all Keller Williams agents and teams across the state of Rhode Island. We also became the #1 team in buyer-represented sales in Barrington and the East Bay.

We are so grateful for our team, clients, and community for making 2020 such a successful year, despite its many uncertainties. If you’re looking to buy or sell in Rhode Island or Massachusetts, we would love to hear from you!

About Chart House Realtors

Written by Matthew Antonio, Team Leader for Chart House Realtors in Barrington, RI.

Chart House Realtors combines the best aspects of size and scale. We are a small boutique firm with 7 full-time, local members. We operate out of our office in Barrington, RI conducting business throughout RI and MA. We are also affiliated with Keller Williams, which is the largest real estate brand in the world, with more agents, more sales and more reach than any other real estate company.  So, our clients get the best of both worlds!

Our small, local size gives us the ability to craft a unique personalized plan for each and every client. At the same time, the size and scale of Keller Williams allows us to reach buyers and sellers on a national and international level. Year-to-date, Chart House is ranked among the top 1% in sales across all agents in Rhode Island and Massachusetts.

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