Residential Properties LTD.
November 28th, 2016
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Residential Properties Ltd. is proud to announce Therese Vezeridis and Sasha Mellor – both of our East Greenwich office – have recently completed two high-end sales, acting as the listing agent in each transaction.

Vezeridis closed the sale of 304 Wickford Point Road in North Kingstown, a classic, shingle-style home with magnificent views of the Narragansett Bay, for $880,000. Vezeridis has been a million dollar award winner for 10 years and is recognized as a Five Star Real Estate Agent. A resident of East Greenwich for over 30 years, Vezeridis prides herself in being an active part of the community and her knowledge of the area.

Sasha Mellor completed the sale of 10 Owl Tree Lane in East Greenwich, a stunning custom built home on private manicured grounds in the Hunt at High Hawk neighborhood, for $892,500.

Mellor has been a full-time licensed real estate agent and multi-million dollar producer since 1999 and prides herself on her work in Kent County.

For more information on Vezeridis or Mellor, please visit the agent bio pages on ResidentialProperties.com.

November 22nd, 2016
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Residential Properties Ltd. is proud to announce the sale of the Sturges House at 47 Manning Street on Providence’s Historic East Side for $1,250,000. RPL represented both sides of the transaction with Jim DeRentis acting as the seller’s agent and Christina Ardente representing the buyer. So far this year, RPL has listed 12 of the 14 East Side sales of over $1,000,000, while also representing 24 of the overall 28 transaction sides.

Designed in 1939 by renowned local architect Peter Geddes for the India Point Corporation, the Sturges House is a streamlined Moderne style home offering over 3,600 square feet of living space. The home is built on the site of the Howard O. Sturges House, which was demolished and the land divided amongst his heirs in the 1930’s. Today, the property rests on a beautifully landscaped, private city garden located just steps from Brown University.

An agent of RPL’s Providence office since 2009, DeRentis is responsible for listing eight of the 14 East Side sales over one million dollars this year. He has been a top sales producer since 2015 and continually earns the distinguished Platinum Plus Sales distinction for sales volume. A resident of College Hill himself, DeRentis knows Providence’s 25 neighborhoods well and has a strong appreciation for the rich diversity of the Creative Capital.

A member of RPL’s Barrington office, Ardente is a top producing agent and consistent recipient of the Greater Providence Board of Realtors’ annual Circle of Excellence Award. Licensed in both Rhode Island and Massachusetts, Ardente is also a certified Relocation and Military on the Move Specialist.

For more information on any of our agents, visit the agent bio pages at ResidentialProperties.com

November 21st, 2016
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sold sign

Following Providence’s selection as the nation’s #1 market to watch by Realtor.com this past December, there was plenty of optimism surrounding the Rhode Island real estate industry heading into 2016. Despite the already high expectations, the state’s housing market has managed to outperform its lofty projections and is currently on pace to break its all-time record for single family sales.

The initial rise began in 2015, when the Rhode Island market saw a 9% increase in single family sales from the previous year. However, through October of this year, not only has that rate of growth continued, but it has actually increased to 12.5% compared to the same time period in 2015.

So far this year, the market has already set records for single family home sales in both the first and second quarters, compiling 1,906 and 2,795 sales, respectively. Rhode Island also set a new personal best with its busiest month of September on record, amassing a total of 1,053 single family sales.

With such a historic start to 2016, the state is now poised to break it’s all-time high of 10,025 single family sales set back in 2004. Through the end of October this year, Rhode Island has already seen 9,185 single family sales, outpacing the 8,453 sales compiled over the same time period during the record-setting 2004 campaign. Considering that current MLS data already shows an additional 1,311 pending single family sales, it’s looking more and more likely that 2016 becomes the state’s new high water mark.

Inevitably, these numbers lead us to wonder about the underlying reasons behind such a hot market. The obvious factors that jump out are affordability and location. Despite prices rising 13% since 2012, the average single family sales price for Rhode Island homes is still nearly 15% lower than it was during its peak in 2007. The availability of reasonably priced homes located within close proximity of the ocean and cities such as Boston and New York offers a unique opportunity for buyers.

Rhode Island has also received plenty of buzz and free publicity as of late. Providence was named “America’s Favorite City” by Travel + Leisure Magazine in October of 2014, and was also selected as “America’s Coolest City” for 2015 by GQ Magazine, while Cranston has been included on Wall Street 24/7’s list of “America’s 50 Best Cities to Live” for each of the past three years. Some of the factors influencing these accolades have been the state’s celebrated restaurants, upscale hotel lounges, craft beers, specialty coffee shops, and emerging technology scene.

Whatever the reasons may be, Rhode Island homes continue to sell at an impressive rate, with the statewide average days on market dropping by nearly 30 days since 2012.

For more information regarding Rhode Island real estate, please visit ResidentialProperties.com – ranked among the top 25 real estate sites in the entire country.