In 2017, Rhode Island witnessed an increase in home sales for the fifth consecutive year. The sale of single family homes reached 11,282 in 2017, rising 2% from the 11,066 closed sales in 2016.
There has been a 6% increase in the median house price, in comparison with 2016, as well. This has popularized Rhode Island as a hot market for fix and flip.
Why Rhode Island is Exciting for Homeowners
Famous for its seaside colonial towns, historic sites, and sandy shores, Rhode Island is a hub for tourism, featuring places such as Blackstone Valley, Providence, Bristol Country, Warwick & Best Bay, Newport County, South County, and Block Island.
Rhode Island also boasts easy access to Connecticut and Massachusetts. To the south, this state is bordered by the Atlantic Ocean via Rhode Island Sound and Block Island Sound.
In Rhode Island, many homes and businesses run on solar and wind technology, making a significant contribution to the environment. The sight of solar panels or wind turbines lining the highways is quite common. Harnessing natural resources has not only allowed Rhode Island to create clean energy, but jobs as well.
To know more about investable properties and how fixing and flipping properties in Rhode Island works, contact us, and learn how this beautiful state can benefit you.