Lila Delman Real Estate announced the sale today of “Dunmere” 560 Ocean Road, an oceanfront home in Narragansett, Rhode Island, listed at $3,950,000. This is the highest sale in Narragansett year to date. Melanie Delman, President, Janet Kermes, Sales Associate, and Deborah Wilson, Sales Associate, represented the seller.

Lila Delman Real Estate also announced the sale today of 125 Lloyd Road, a waterfront home in North Kingstown, listed at $1,199,999. The property was under contract in 5 days and is the highest sale in North Kingstown year to date. John Repoza, Broker Associate, represented the seller. This is the second sale for Lila Delman Real Estate placed under contract in record time. 25 Browning in Narragansett, listed at $2,495,000 and sold in April, was under agreement in 11 days according to Lila Delman associates Dan & Nicole Harding, who reprsented the seller.

Melanie Delman, President of Lila Delman Real Estate, believes that these two sales demonstrate a shift beginning to take place in RI’s luxury real estate market, remarking, “These sales prove that the basic tenents of supply and demand economics are now taking place in RI again. State wide, inventory is down and demand is increasing, creating exciting opportunities for our sellers.”