Uncategorized August 26, 2021

Out-of-State buyers are adding to the level of compete for local buyers in RI and beyond

The RI real estate market saw a huge jump in the number of buyers from outside the state in the 2nd quarter. This has been a consistent phenomenon since the onset of the pandemic. Purchases by out-of-state buyers from April to June increased a whopping 69% year-over-year. Where are they coming from? Massachusetts, Connecticut and New York are driving in the majority of buyers although we’ve also seen an increase in buyers from California and Florida. Clearly the seacoast vibe and associated lifestyle, the plethora of great restaurants and quaint seaside communities as well as our proximity to Boston and the PVD hip factor are facilitating this heightened love for Little Rhody!

Click on the link below for where the buyers are flocking to on a national level.