Real Estate Prices

[MapmanNo1]

This is probably more of a statewide topic, but today's Daily News article focused on Newport County.

Local Housing Market Stands Apart

JAMESTOWN - Think the real estate market in Newport County is soft?

Think again, says Newport County Board of Realtors President Jennifer O'Hora Lawrence.

Lawrence said the mainstream media tends to lump a niche market such as Newport County in with the rest of the country, when in reality the local market is much stronger than the general public is led to believe.

The median sales price for single-family homes in Newport County, for example, rose in Little Compton, Portsmouth and Tiverton in 2006, while they were off slightly in Jamestown, Middletown and Newport compared to 2005 figures. Statewide, the 2006 median price was down by a little more than one-tenth of 1 percent.

"We couldn't sustain the intense pace we had in the last few years, but it opens it up to both buyers and sellers," Lawrence said. "But what's happening in Las Vegas and Florida isn't happening here."