Elizabeth Masterson is a sales associate at Residential Properties Ltd. She has more than 20 years of experience in residential real estate and is affiliated with the firm’s South County office at 271 Main St. in South Kingstown.
In January 2025, she was among 13 agents who joined Residential Properties after departing the Compass Inc. office in Westerly. A longtime Rhode Island resident, Masterson’s practice includes working with buyers and sellers across a range of price points, with an emphasis on home staging as part of the listing process.
PBN: What trends or shifts have you observed in Rhode Island’s real estate market over the past year or so, and how do you expect these trends to evolve in the coming year?
MASTERSON: The trend in Westerly has been more buyers looking to become full‑time residents, in addition to traditional retirement purchases. Many buyers have “discovered” Rhode Island’s beautiful shore areas, where their dollar goes further than in many major metro areas in the Northeast. This trend has been building for a while, but it really accelerated after COVID, as I now get calls from buyers and renters who are expanding their search and finding Rhode Island more affordable than Boston and other coastal communities.
Another trend I have noticed is more people looking to live close to town. They like the idea of walking to restaurants and downtown. They are driving to the beach during the day anyway and enjoy not getting in the car as much at night.
PBN: How are current economic factors and political factors – such as interest rates, tariffs, inventory levels and buyer demand – shaping the local market, and what impact will they have in the months ahead?
MASTERSON: Rates are good and getting better. I am expecting the effects of the Great Big Beautiful Bill to start kicking in by the end of the first quarter of 2026. This may mean more inventory, as well as more buyers.
There are retroactive tax credits for building and investment that should help propel the property market. The average first‑time buyer age is currently around 39, and I expect that to drop as younger buyers enter the market. At the same time, “The Great Wealth Transfer” has begun, as boomers hand down assets and help the next generation make large purchases.
PBN: What's are your best pieces of advice for first-time homebuyers in Rhode Island who are trying to find a new place to live in 2026?
MASTERSON: Be flexible. Find a creative way to get into a property. Be proactive: search for a good mortgage broker, get prequalified and know your comfort zone for monthly payment. Ask your Realtor about low down‑payment loan options. Look outside your ideal dream neighborhood and consider a property you can improve over time.
Putting some work into a home can help you build equity for your next purchase and move you closer to your ultimate “dream space.” A good agent will help you stay realistic but also creative in your search. Remember that the difference between renting and owning may be cosmetic.
PBN: What challenges are sellers in Rhode Island facing right now, and what advice are you giving your clients this year?
MASTERSON: Sellers need to be prepared for their home to be seen online first. Photos are the gateway to showings because so many consumers shop online before they ever step inside a home. I recommend that clients edit, declutter and clean out their spaces. Sometimes, restaging a room or two gives buyers a clearer sense of how to use the space. Strong listing photos create more showings; some properties can practically sell online because the photos tell such a compelling story.
My other key advice is to listen to your agent when pricing your home. Proper pricing leads to more interest than an overpriced home chasing the market downward. Zillow is an algorithm and is not always based on real‑time local knowledge. The best comparable sales will get you better results than “reaching” for a price just because your neighbor did well.
PBN: What was one of the highlights of your 2025 year and why was it special to you?
MASTERSON: Becoming a Residential Properties agent was the highlight of my year. I am all about customer service, so it is important to be with a firm that shares that commitment and delivers amazing service as well.
Many firms are being absorbed by larger companies that change the way real estate is handled. At the end of the day, you are hiring a reputation and a human being to represent you in a major transaction, so it is essential to choose an agent who truly represents you.
My second highlight was achieving a personal‑best condo sale on Bay Street in Watch Hill. Working in a secondary‑home market does not usually have many condo transactions, so this was a personally interesting and rewarding sale for me.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @Marc_La_Rock.
