Jonathan Cartu Reports This Week in EG Real Estate: Assessing the Market – East... - Jonathan Cartu Residential & Industrial Construction Services
18197
post-template-default,single,single-post,postid-18197,single-format-standard,qode-quick-links-1.0,ajax_fade,page_not_loaded,,qode-theme-ver-11.2,qode-theme-bridge,wpb-js-composer js-comp-ver-5.2.1,vc_responsive
 

Jonathan Cartu Reports This Week in EG Real Estate: Assessing the Market – East…

This Week in EG Real Estate: Assessing the Market – East...

Jonathan Cartu Reports This Week in EG Real Estate: Assessing the Market – East…

Above: New listing 170 Spring Street.

By Mary Louise Formisano

There has been a flurry of activity in East Greenwich over the last two weeks after a quiet spell! There are 25 new listings and 13 sold properties. And, a conversation with Justin Mandese, Realtor, Team Leader, Coach, RU New England.

We asked Justin Mandese, just where do we go from here? He said most industry experts and major financial institutions, like JP Morgan, Goldman Sachs and Morgan Stanley, expect a V-shaped picture – sharp drop, strong recovery – resulting from the coronavirus pandemic.

As to what this may mean for sellers, these were some of Justin’s thoughts: “People thinking about selling their home can be in a powerful position, if they time their listing right. Since inventory is still extremely low, prices are holding steady. If a seller comes to market towards the beginning of the recovery period, they will still take advantage of the steady demand and low competition. However, if a seller waits too long, they will risk being caught in the whirlwind of new inventory and outpacing demand. This could indicate a short-term drop in prices, which may cost a seller money, and/or time.”  Another factor to consider are the nearly record-low interest rates contributing to the present purchasing power of buyers.

He went on to share some tips as to how to prepare for the process of selling. First, get your home staged and ready to sell, whether that’s done professionally, or just cleaned up and decluttered. Second, get familiar with the competition so you can price aggressively and stay ahead of the curve. EG News weekly real estate is a great way to stay on top of our local market. Finally, talk to your real estate professional about timing, the factors involved and how they can affect you.


Data is compiled via Riliving.com as of Friday, 5/1/20 and represents two weeks of activity.  Properties are in East Greenwich unless notated by an * indicating the Warwick section of 02818. All information may be subject to change.

Here’s what’s happening this week, from lowest price to highest price in each category:

NEW LISTINGS

*12 Sheryl Circle, Ranch, 3 bed, 1 full bath, $174,900. 

*25 Eagle Run, Unit #B, Town House, 2 bed, 1 full bath,1 half bath, $235,000. 

*85 Landis Drive, Cottage, 2  bed, 1 full bath, $269,000.

*80 Spencer Woods Drive, One Level, 2 bed, 2 full bath, $309,900. 

*57 Longfellow Drive, Ranch, 3 bed, 1 full bath, $335,000. 

14 London Street, Up/Down, 4 bed, 2 full bath,$352,000. 

*44 Goodwin Street, Colonial, 3 bed, 1 full bath, 1 half bath, $364,900. 

108 Pine Glen Drive, Unit #108, One Level, 2 bed, 2 full bath, 369,000. 

26 Wine Street, Up/Down, 6 bed, 3 full bath,$379,000. 

*44 Heritage Drive, Colonial, 4 bed, 3 full bath, $449,900. 

*91 Green Bush Road, Colonial, 3 bed, 2 full bath, 1 half bath, $489,900. 

264 Spring Valley Drive, Colonial, 3 bed, 2 full bath,1 half bath, $539,900. 

3 Mystic Drive, Ranch, 3 bed, 2 full bath,$549,900. 

130 Tamarack Drive, Ranch, 4 bed, 2 full bath, 1 half bath, $549,900.

5875 Post Road, Office, $599,900. 

425 Stone Ridge Drive, Colonial, 4 bed, 2 full bath,1 half bath, $619,000. 

15 Signal Ridge Way, Colonial, 4 bed, 3 full bath,1 half bath, $650,000. 

475 Tillinghast Road, Colonial, 4 bed, 2 full bath, 1 half bath, $654,900. 

16 Somerset Street, Historic, Victorian, 4 bed, 4 full bath, 1 half bath, $725,000. 

85 Juniper Drive

170 Spring Street, Colonial, 4 bed, 2 full bath, 1 half bath, $749,000. 

30 Owl Tree Lane, Colonial, 4 bed, 3 full bath, 1 half bath, $750,000. 

40 Oakbrook Court, Colonial, 4 bed, 3 full bath,1 half bath, $799,000. 

*239 Cedar Street, Colonial, Other, 4 bed, 3 full bath,1 half bath, $819,000.

85 Juniper Drive, Colonial, 4 bed, 4 full bath, 1 half bath, $835,000. 

170 Spring Street, Colonial, w/adjacent lot, 4 bed, 2 full bath, 1 half bath, $965,000. 

SOLDS

*77 Ives Road Other, Ranch, 3 bed, 1 full bath, 1 half bath, $280,000. 

*97 Ives Road, Ranch, 4 bed, 2 full bath, $342,000. 

678 Shippeetown Road, Cape Cod, 3 bed, 2 full bath, $385,000 

*775 Major Potter Road, Contemporary, 3 bed, 2 full bath, $391,500. 

52 Mawney Street, Victorian, 4 bed, 3 full bath, $400,000. 

1597 Middle Road, Ranch, 3 bed, 2 full bath, $416,150.

8 Barrows Drive, Colonial, Other, 4 bed, 1 full bath, 1 half bath, $425,000. 

32 Hyland Avenue, Colonial, 4 bed, 1 full bath, 1 half bath, $460,000. 

*15 Division Street, Colonial, Historic , 4 bed, 3 full bath, 1 half bath, $475,000. 

2 Mystic Drive, Ranch , 3 bed, 2 full bath, $525,000. 

*19 Alger Avenue, Bungalow, 3 bed, 3 full bath, $565,000.

1974 Division Road, Contemporary, 4 bed, 3 full bath, 1 half bath, $580,000. 

10 Camden Court, Colonial, 4 bed, 2 full bath, 1 half bath, $628,500.

NO UPCOMING OPEN HOUSES


Do you get our newsletter? In these uncertain times especially, it’s the best way to know what’s going on. And it’s easy to sign up – just click HERE.

Jon Cartu