Market Conditions in Newport>Question Details

Diane Cannon, Home Buyer in Westchester Village,...

since 2004, has the Newport RI real estate market had an overall increase of over 10%?? My sister has

Asked by Diane Cannon, Westchester Village, Bronx, NY Wed Sep 12, 2007

My sister has a home in Historical hill. She thinks her vaule has increased. I think it stayed the same since 2004. who is right?

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Today? Neither of you. Maybe she's even upside down.
0 votes Thank Flag Link Mon Mar 21, 2011
Your sistsers home has certainly appreciated. Year over year statistics indicate median price off by only 2% from 2006 to 2007. Average price up over 10%. Historic hill is a high demand area and I am sure that there are several buyers right now for the property. I compile a great deal of statistics including daily tracking of inventory, sales, etc. I'd be happy to email you some more detailed statistics on request. Thank you. Arthur Chapman. Broker/Owner, William Raveis Chapman Enstone, 49 Bellevue Avenue, Newport, RI 401 846 3800
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0 votes Thank Flag Link Fri Jan 11, 2008
Unfortunately most of Ri as well as the remainder of the country had had a decrease in market value due to high inventory and lending problems. The best solution is to contact a local Realtor and ask for a makret value, we provide information of pricing for the subject proeprty based upon recent sales and competive inventory.
0 votes Thank Flag Link Sat Nov 17, 2007
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