Kristen Lenzner-Holloway is the broker associate and branch manager at Randall, Realtors in South Kingstown. A longtime resident of South Kingstown, she has years of experience in construction and real estate and is a graduate of the University of Rhode Island. She spoke to the Providence Business News about recent changes in the South County market.
PBN: What is the South Kingstown market? Is there a range of housing available?
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
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LENZNER-HOLLOWAY: We’re still low in inventory, as we are all over the state. But we do have a range of houses. It’s still a seller’s market but … it’s starting to flip a little bit. We haven’t had inventory in a few years. It’s starting to even out now. We did see some of our buyers hold out throughout the season. At the beginning of the spring and summer, we saw people buying things much higher priced than they were in years past, and had a hard time finding comps for these sorts of things. Now … buyers are finding … prices a little more reasonable.
PBN: In your market, what areas are featured?
LENZNER-HOLLOWAY: South County typically. All of our offices are located in Washington County.
PBN: Who is buying in these towns? Is it retirees, families?
LENZNER-HOLLOWAY: We have kind of a mix. It depends what the town has to offer. Narragansett has a lot of investors looking to purchase. It’s because of the summer rental market and the academic school year market. It’s a little mixed. South Kingstown is primarily families. Narragansett is a mix of families and investors. Charlestown is a mix of families and second homes.
PBN: Is there any new construction?
LENZNER-HOLLOWAY: I know South Kingstown has a new neighborhood being developed. Westerly has some. And North Kingstown has a big new neighborhood going in off Post Road.
PBN: What about land for sale? Should people be looking at that?
LENZNER-HOLLOWAY: Absolutely. And alternatively, because there was low inventory and people couldn’t find the houses they wanted for the price they wanted, we did sell a lot of land in the past two years.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
