5 Open Houses to Catch This Weekend
The market is flooded with great properties and, for the first time in two years, the playing field is nearly even.
It’s only two days into April and the spring market is flooded with picture-perfect properties. How, pray tell, will we see all of them? Enter the open house weekend, where you can trot from home to home without trigger pressure from a pushy seller’s — or, in some cases, buyer’s — agent.
The timing of the hunt couldn’t be better: The Rhode Island Association of Realtors’ latest Market Trends report, from March 21, suggests a shift in the real estate power dynamic. Over the last couple of years, our healthy economy — one chock full of buyers — absolutely decimated the single-family housing stock, driving up prices and granting sellers the upper hand in most transactions.
But now, with 5.9 percent more single-family homes on the market than a year ago, sales price growth has slowed and sellers are expected to adjust their expectations (read: less price gauging, more negotiating). The median sales price, which climbed to $270,000 in December of 2018, has now returned to a comfortable $250,000.
The tides haven’t turned completely against sellers; buyers just have more leverage than they’ve seen in a long time. So treat your spring weekends like a reality TV dating show: Browse the offerings, have some fun and commit only when you’re sure you’ve found the one (preferably with some sort of rose symbolism involved; “The Bachelorette” did just wrap filming in Rhode Island, after all).
Here are our favorite open houses to hit this weekend, from an affordable starter home in Riverside to a turn-key abode in Coventry: