As you may know, if you follow the real estate market in this area, the southern Rhode Island –South County, as we lovingly call it– market is very unique.
One of the commanding reasons is of course, the coast – the beaches – the shoreline, that we are so blessed to reside by.
Consider Westerly, a town as diverse in and of itself, as you can get. A home south of Rt. 1 will sell for almost double what the same home in the north-end will sell for.
Why is that?
Well, we are special. We all know this for more reasons than one. But there is a bigger reason. There is this imaginary corridor in the northeast – you know the one. It’s the “hustle and bustle” corridor, as I like to call it. There is a certain train that runs from one end to the other. This corridor runs from Boston, diagonally through Hartford and most of CT, straight into New York City and south to Philadelphia and on to Washington, DC. If you’ve ever driven it, you know what I mean! Yikes.
Here you will find people, lots of people; major industry; Fortune 500 companies, and the folks who run them, and run them well. There aren’t a lot of 40 hour work weeks in these areas.
The beauty of this craziness, is that it misses us completely. And it shows!
Here in RI, especially South County, things move a little slower. The weather warms, and we all try to sneak in some beach or boating time, even if it’s in the evening. We spend more time outside. We socialize more. What’s better than a good game of corn hole between friends?
We have breweries and wineries a plenty. Of course we do!
We walk through downtown and visit the dozens of great restaurants or stroll the park. We cruise to Newport, just because. We enjoy countless outdoor events where we and the family can relax and jam to some tunes (in the dunes), or recite the lines to a popular movie in the park. (Still bummed that I missed The Princess Bride in the park).
And we smile more; a lot more.
Even in the colder months, we still have the relaxed vibe that summer gave us and we carry through to next spring. And the park has some awesome sledding hills to get us by!
Now think about it. If you were busting your hump all week or all winter even, and peace, tranquility and getting “away from it all,” was a short 2-4 hour drive, wouldn’t that be amazing?
What price would you pay for that?
It’s amazing for me to drive 20 minutes to the ocean. There’s no doubt about that.
Those city folks hunted and hunted, and have found our treasure. And when you pay north of one million dollars for a tiny apartment in Manhattan, $400,000 for a little beach cottage is a STEAL.
As a result, we deal with more traffic, more tourists and a busier area for a few months – which the merchants are more than fine with. And which keeps some of our taxes down.
And we also deal with higher home prices. The old law of supply and demand. City folks demand beach cottages and the supply really is limited; especially this year.
Now this is all theory, but when you think about it, it’s not too far off. I think it’s right on target. And you know what? I’m happy to be a part of the “chill” northeast. We truly are blessed here in South County.
Enjoy this heatwave and please reach out anytime with any home buying or selling questions! I’m here for you!