As the summer draws to a close, a transitional phase is beginning in the Newport County home market. There is variation in the speed; some homes sell within a few days, while others remain on the market for weeks or even months. It serves as a reminder of how erratic and price-point-driven the market is right now. We have discovered that some assets that we had assumed would sell quickly have been handled more cautiously than they could have been in earlier months or years. Particularly for properties that have been on the market for a week or two, buyers are more cautious and many believe they have the advantage in this market.
Inventory lies at the core of this variability. Newport County currently has 169 single-family houses that are either Active or Coming Soon. Only fifty-eight of those are priced under $1 million. Condos are exhibiting a similar trend, with 52 properties priced under $1 million and 79 now on the market. Only seven of the 27 multi-family properties—which are frequently a popular choice for investors—are offered for less than $1 million. On the other extreme, the number of luxury residences costing more than $2 million is abnormally high. Others are riding the equity surge that COVID offered them, opting to cash out now and selecting this summer as the ideal moment to list. Some of these sellers are long-time owners, frequently getting ready for retirement or life transitions. It seems that many of the wealthy homeowners in Newport County shared that belief.
Interest rates will have a big impact on what happens next. In the coming months, the Federal Reserve has hinted at the prospect of a rate drop, which would have an impact on the housing market. Refinancing would give existing homeowners who are stuck with 7% mortgages more choices and flexibility. Reduced rates might make the difference between first-time buyers qualifying and not, bringing new competitors to the market. The cycle of sales gains speed as a result of that knock-on effect, which opens doors for snowbirds or second property owners. Improved affordability would probably also benefit out-of-state purchasers, who are already a significant force in Newport County and Rhode Island overall. Particularly at the lower end of the market, where pressure is already created by limited supplies, all of this could lead to additional competition. Homes in the $400,000–$600,000 price range are still selling quickly as first-time purchasers compete with second-home owners and downsizers in the same price range.
Although the median price of a single-family home in Rhode Island has remained above $500,000 for three months in a row, and the median price of a single-family home in Newport has been stable at over $700,000, it is noteworthy that additional increases could occur if demand picks up speed. Theoretically, affordability increases when rates decline, but in reality, more buyers will likely drive up prices as they compete for the same small number of available properties. That effect might be exacerbated in Newport County, where supply is already limited in important price levels.
The Newport County market is ready for activity as the summer draws to a close and the fourth quarter begins. Both buyers and sellers should be ready for a volatile year-end as a result of the possibility of a Fed cut. While owners can profit from putting their houses in a position to capitalize on the resurgence of demand, buyers might want to move quickly before more competition drives up prices.
This can be the ideal time for people who are thinking about moving to assess their alternatives. Whether that is finding a new residence before the holidays and the new year begin, downsizing, or upsizing. I would be pleased to share my personal knowledge of the local Newport County market if you would want further details or to talk about your home objectives. Please feel free to reach out.
Tyler Bernadyn is a Real Estate Broker and Co-Owner at RE/MAX Results. He can be reached at [email protected] or 401-241-1851.
Great white sharks are going north. Here s what the numbers say
Maine’s Scarborough (AP) Great whitesharks are spending more time in the cold seas off the Atlantic coast of Canada and New England, according to new research.
This implies that fisherman, boaters, and beachgoers who visit the northern waters are learning to coexist with the predators made famous by the Jaws movie fifty years ago. Shark sightings have increased in areas like Maine, where they were formerly quite uncommon.
Beachgoers are normally quite safe from shark bites, according to scientists, who attribute the increased sightings of white sharks to the greater availability of the seals that the sharks eat.
Here is a numerical breakdown.
Since 2020, the Gulf of Maine’s great white shark activity has been tracked by the Maine Department of Marine Resources. According to the department, the data will be used to better understand the distribution of white sharks off the coast of the state.
According to the department, there were 19 distinct white shark sightings on 47 distinct dates in 2024.
Julie Dimperio Holowach, 63, was killed by a great white shark off Bailey Island in 2020, the first known fatal shark attack in Maine.
Deathly shark bites are extremely uncommon in Maine and elsewhere, according to shark experts.
Approximately 2.5 times as many white sharks were spotted off Halifax, Nova Scotia, in 2022 as in 2018, according to a May paper published in the journal Marine Ecology Progress Series. According to the report, the number identified in the Cabot Strait, which divides Nova Scotia and Newfoundland, grew by almost four times further north.
The waters of Maine are home to at least seven different shark species, in addition to the great white shark. These include the common thresher, shortfin mako, blue shark, sand tiger shark, porbeagle, spiny dogfish, and basking shark.
Some of these sharks are harmless, and the majority present very little risk to people.
The Florida Museum of Natural History maintains a database of recorded shark attacks called the International Shark Attack File. Even though the great white shark has been known to attack people the most, the number of recorded assaults is still quite small.
According to the International Shark Attack File, there have been 351 recorded unprovoked shark attacks using white sharks, with 59 of those attacks being fatal.
Morning Notes: Community investment fund brings final tour stop to Middletown
Newport, good morning! The 236th day of 2025 is today, Sunday, August 24. The year has 129 days remaining.
You need to know
Rhode Island’s first community investment fund will make its final appearance on Aquidneck Island on Wednesday when it wraps up its summer coffee shop tour at Custom House Coffee in Middletown.
The final Making the (G)rounds session of the Rhode Island Community Investment Cooperative will take place at the cafe on Aquidneck Avenue from 8 to 9 a.m. Since June 4, the group has been visiting small coffee shops throughout the state to provide locals an opportunity to learn about the cooperative’s Local Return Diversified Community Investment Fund while enjoying their morning coffee.
The unofficial tour has given Rhode Islanders an approachable means of asking concerns regarding community investment, according to Jessica David, co-founder and president of Local Return. In order to fund community-driven development projects and locally owned real estate revival projects around the state, the cooperative is collecting $3.5 million.
As the first community investment cooperative in Rhode Island, the fund welcomes contributions from all citizens of the state and provides both monetary gains and advantages to the community. According to the organization’s website, the cooperative functions on a one-person, one-vote governance approach, in contrast to standard investment funds, regardless of the size of the investment.
The summer tour, which has stopped at cafés from Providence to Westerly, concludes with the Wednesday session at Custom House Coffee, 796 Aquidneck Ave. Residents of Middletown and other members of the Aquidneck Island community who would like more information about community investment options should visit ricommunityinvestment.com or attend the drop-in session.
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Forecast for the Weather
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Rip Current Statement in effect from August 24, 08:00 AM EDT until August 24, 08:00 PM EDT
- Today: Partly sunny, with a high near 75. South wind 8 to 14 mph.
- Tonight: A slight chance of showers after 1am. Patchy fog after 4am. Otherwise, mostly cloudy, with a low around 66. South wind 6 to 8 mph. Chance of precipitation is 20%.
- Tomorrow: A chance of showers, mainly before 1pm. Patchy fog before 7am. Otherwise, partly sunny, with a high near 76. Southwest wind 5 to 10 mph. Chance of precipitation is 30%. New precipitation amounts between a tenth and quarter of an inch possible.
Marine Prediction
- Today: S wind 7 to 12 kt. Partly sunny. Seas 1 ft or less.
- Tonight: SSE wind 5 to 7 kt. A slight chance of showers after 1am. Patchy fog after 4am. Seas 1 ft or less.
- Tomorrow: Variable winds less than 5 kt becoming SSW 5 to 9 kt in the afternoon. A chance of showers, mainly before 1pm. Patchy fog before 7am. Seas 1 ft or less.
- The coastal water temperature is 64 degrees.
Moon, Sun, and Tide
- Sunrise at 6:03 am. Sunset at 7:31 pm. 13 hours & 27 minutes of sun.
- High tide at 9:16 am & 9:35 pm. Low tide at 2:48 am & 2:46 pm.
- The lunar phase is a Waxing Crescent.
Activities
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All Day:
Special Release Weekend: Milestone Wines
at Newport Vineyards
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8 am:
Cars & Coffee Audrain Park Place
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10 am:
Tiverton Farmers Market Summer
at Tiverton Town Farm Recreation Area
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10 am:
Newport Black History Walking Tours
at Bowen s Wharf Pilot House
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10 am:
Black Ships Festival
in Newport and Bristol
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11 am:
Colonial Jewish Walking Tours
at Loeb Visitors Center
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12 pm:
5th Annual Gnome Surf Clambake
in Little Compton
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2 pm:
Cocktail Wars
at Newport Harbor Island Resort
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3 pm:
NIMFest Newport
at King Park
Live Entertainment & Music
- Clarke Cooke House: Bobby Ferreira at 12:30 pm
- Fastnet Irish Pub: Irish Sessions at 6 pm
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Johnny s Restaurant:
Mac Chrupcala Jazz Series
at 3 pm
- Landing: Nick Sproviero at 12:30 pm, Chelley Knight & The Dope Things at 4 pm, Catching Blue at 8 pm
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Narragansett Cafe:
Professor Harp
at 4 pm
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Newport Craft:
Jimmy & Matt
at 1 pm,
The Groove Merchants
at 4 pm
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Newport Harbor Hotel:
Alger Mitchell
at 3 pm
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Newport Vineyards:
Jimmy and Matt
at 1 pm
- O Brien s Pub: Greg Zercher at 3 pm
- Pour Judgement: Los Duderinos at 10 pm
- Speakeasy Bar & Grill: Live music at 9:30 pm
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Sunset Cove:
Andre Arsenault
at 11 am,
Two Across
at 3 pm
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The JPT Film & Event Center:
Cat Video Fest
at 2 pm,
It s Never Over Jeff Buckley
at 4:30 pm
Public Meetings in Newport County
- No public meetings are scheduled.
Are you planning an event?Use What’sUpNewp’s Event Calendar to submit your event.
Sharapova, Bryan Brothers inducted into International Tennis Hall of Fame
In a ceremony that brought tennis’ top players to Newport’s famous grounds, Maria Sharapova and doubles greats Bob and Mike Bryan were officially inducted into the International Tennis Hall of Fame on Saturday, entering tennis immortality.
With the three new members, the Hall of Fame now has 270 legends from 28 different countries. Held for the first time on the eve of the U.S. Open, the event concluded a revamped three-day festival that featured unique programming and celebrity exhibitions.
Sharapova won five major singles titles over her nearly two-decade career, making her one of only ten women to complete a career Grand Slam. The Russian star added Wimbledon (2004), the U.S. Open (2006), the Australian Open (2008), and two French Open titles (2012, 2014) to her CV, becoming the first woman from her nation to reach the top of the world rankings in 2005.
Sharapova stated in her induction address, “I gave my life to tennis, and tennis gave me a life—what a remarkable life.” I am really appreciative of it.
The five-time major champion was introduced by tennis legend Serena Williams, who fought Sharapova throughout their careers.
According to Williams, what began as a rivalry developed into a great deal of respect. Friendship is what came out of respect. Maria left a lasting legacy in addition to winning matches.
With 16 major titles and the record for the most weeks at the top of the ATP doubles rankings (438), the Bryan Brothers dominated doubles tennis for almost 20 years. The twins had the most successful doubles partnership in ATP history, winning 119 tour titles together and finishing as the year-end No. 1 duo a record 10 times.
Together with Olympic medals in Beijing (bronze, 2008) and London (gold, 2012), they won the Davis Cup in 2007 and are still the only doubles pair to complete the Double Career Grand Slam.
According to Mike Bryan, no one succeeds in this sport by themselves. Every successful player has a village, and we are really fortunate to have a remarkable one.
Bob Bryan attributed their continued success to their collaboration.
“I had the world’s top player living across the hall for the majority of my career,” he remarked. For a long period, we maintained a high standard. It wasn t always easy, but we had each other.
The induction celebration also featured a Hall of Fame Celebrity Pro Classic, live podcast recordings with Andy Roddick and Patrick McEnroe, and exclusive sessions with Stan Smith and Gigi Fernandez.
The ceremony s timing, scheduled the night before the U.S. Open begins, marks a new tradition for the Hall of Fame s annual induction weekend.
Photo Gallery
All photos by Louis Walker III/What sUpNewp
More Coverage
Tennis Hall of Fame induction celebration continues with Celebrity Pro Classic
Tennis Hall of Fame begins 2025 induction celebration
Maria Sharapova and Bryan Brothers enter tennis hall, with surprise appearance by Serena Williams
2025 Tennis Hall of Fame Induction: Maria Sharapova and Bryan Brothers talked about the sacrifices made for their careers
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