Ok, let's not get too excited, but....
Its only been a few days in this month BUT the Pending Index is matching the New Listing Index. 4.75 listings per day and 4.75 contracts per day in Newport County, RI. Does this mean that supply is matching demand? NO.
What it does mean is that the buying activity is strong and I would expect that our median and average sales prices will start to stabilize over the next few months.
We are coming out of a very bad market. Renewed interest and considerable job creation in the area will pull us out of the doldrums by early summer.
If you are a Buyer, hire a good Buyers Broker who knows the area well and has a strong reputation and great negotiating skills. If you are a Seller, hire an agent/agency with strong regional presence and great website.
Keep Hope Alive!
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