PROVIDENCE, RI – February 1st, 2023 – Compass is excited to announce the sale of 215 Watch Hill Drive in East Greenwich, RI, for $1,087,500. Kevin Fox, Sales Associate with Compass Providence, represented the buyer in this transaction. This marks the highest sale in East Greenwich since November of last year.*
East Greenwich, like much of Rhode Island, has seen an increase in sales price over the past two years. The average sales price for single family homes in the municipality grew to $726,979 in 2022, which is over $300,000 higher than the average for Kent County. Inventory remains at low levels, with just 190 single family homes sold in East Greenwich last year.**
“We’re hopeful heading into the spring market”, commented Kevin Fox. “We expect active inventory to increase as it always does after the new year, and there is no shortage of buyers looking to purchase. This means that Rhode Island homes should hold their value throughout 2023 despite the unprecedented market we had in 2021 and 2022.”
215 Watch Hill Drive is an elegant brick-front Colonial-style home set on an oversized, one-plus acre lot with multiple decks overlooking the private grounds. This stately home welcomes you with a gracious curved staircase and soaring ceilings in the foyer. Beyond, explore the open floor plan which includes a spacious dining area, light-filled seating area, and powder room. Adjacent to this is the incredible eat-in kitchen with island, newer appliances, and access to the back deck and family room. With five-bedrooms and two-and-one-half baths across 4,461 square feet of total living space, the home has plenty of room for friends and family.
2022 marked a banner year for Compass agents in New England. In 2022, Compass agents represented over $1B in Rhode Island real estate transactions alone and represented five of the top ten sales in the state.***
Compass, a Fortune 500 company, is the number one residential real estate brokerage in the United States based on 2021 sales volume.† Founded in 2012 and headquartered in New York City, the technology-enabled brokerage provides an end-to-end platform that empowers its real estate agents to deliver exceptional service to seller and buyer clients alike. Today, the company is home to over 28,000 agents in more than 350 cities across the United States, including twelve office locations in Rhode Island alone.
Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only.
*Closing price and sale ranking information is based on information from the Rhode Island Statewide MLS for the period of 11.1.22 – 2.1.23 for 02818 zip code. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.
**Market analysis is based on information from the Rhode Island Statewide MLS for the period of 1.1.21 – 12.31.22. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.
***Data is based on sales volume of real estate transactions, and top RI Sales, closed between 1.1.22 – 12.31.22 in the Rhode Island State-Wide Multiple Listing Service. Sales volume for Compass in Rhode Island includes Lila Delman Compass, Randall Realtors Compass, and Compass brokerages. Non MLS sales included in the $1B+ figure.
†T. Velt, “RealTrends 500: The Rise of Compass,” RealTrends, Online, HW Media, 3/25/2022, https://www.realtrends.com/realtrends-500-the-rise-of-compass/.