PROVIDENCE – Rhode Island real estate firm Residential Properties Ltd. finished 2022 with $1.2 billion in property sales, which was the most for any company in the state, according to the Rhode Island Statewide Multiple Listing Service database.
Residential Properties said it has topped the state in overall real estate sales volume each year since at least 2004, the year when the MLS database began accurate recordkeeping.
This is the third consecutive year that the company, established in 1981, has exceeded $1 billion in annual sales. The company also said three of its nine offices were among the top 25 real estate offices in the state for overall sales volume.
Residential Properties said 2022 was the second year in a row that it topped the category of total homes sold, including 221 sales over $1 million.
“We congratulate our teams of real estate professionals who continue to inspire and amaze year after year,” said Sally Lapides, CEO and president of Residential Properties. “RPL also successfully enhanced its operations as a company this past year by broadening our education programs for agents, increasing our corporate clients … finding new and better spaces for our Newport and South County offices, and hiring a chief strategy officer to join our executive team.”
Residential Properties said its Providence-based sales associate Jim DeRentis was the state’s top individual agent in 2022, in terms of total homes sold and sales volume. Derentis said he achieved over $109 million in transaction volume.
That includes 66 Power St. in Providence, for which DeRentis was the listing agent, selling last year for $5.5 million in the largest-ever home sale in the city.
Looking ahead, Lapides said she anticipates a competitive Rhode Island real estate market in 2023, with inventory remaining low and buyer demand still high, although not as severe as last year.
“We have returned to a pre-pandemic market and can anticipate 2023 continuing to be strong,” Lapides said. “With companywide investments made at RPL in 2022 to better serve our clients and agents, we are excited to hit the ground running in the new year.”
Marc Larocque is a PBN contributing writer.
