Depending on where you live - or vacation - the housing market might feel red-hot or oddly quiet. Across the country, local markets are diverging. In some regions, buyers are gaining leverage. In others, sellers continue to hold the upper hand. It's the classic “tale of two markets,” and understanding where our local market fits in is more important than ever.
Seller’s Market or Buyer’s Market? It Depends on Where You Stand
In a buyer’s market, there are more homes available than there are buyers. Properties tend to linger, price reductions are more common, and buyers have room to negotiate.
A seller’s market, by contrast, is marked by low inventory and strong demand. This often leads to faster sales, multiple offers, and rising prices.
So where do we stand? On a national level, the answer varies. But here in coastal Rhode Island - in places like Watch Hill, Weekapaug, and even nearby Eastern Connecticut communities like Stonington and Mystic - there are strong indicators that we’re still in a seller’s market.
What the Data Says
Take a look at the chart below (see graphic) showing buyer and seller activity by region. The Northeast remains one of the strongest seller’s markets in the country. Demand continues to outpace supply, particularly in second-home markets with limited inventory like ours. Homes are still selling quickly, and price points remain resilient.
Compare that to the South and West, where many cities are seeing more inventory and cooling demand. In those regions, buyers have more choices - and more bargaining power.
Price Trends: The Regional Divide
National data from ResiClub (see graphic) highlights how this divide is playing out in pricing. Many of the top metro markets in the Northeast continue to see price appreciation, while others - particularly out West - are experiencing a softening.
That’s not to say our local market is immune to broader economic conditions. Rising interest rates, inflation concerns, and global uncertainty can all have ripple effects. But here in the Watch Hill and Weekapaug area, the fundamentals - limited inventory, high demand, and scarcity of buildable land - continue to support a strong long-term value proposition.
Why Local Expertise Matters More Than Ever
Even within our small coastal pocket, trends can vary from one street to the next. A property within the Watch Hill Fire District, for example, may behave quite differently in the market than one just outside of it. This is where local knowledge makes all the difference.
Working with a real estate advisor who understands not just Watch Hill or Weekapaug, but also the buyer psychology coming from feeder markets like New York, Connecticut, and Boston, is key to positioning your home - or your offer - strategically.
I spend every week studying both our local market and what’s happening in the metro areas our buyers are coming from. That awareness allows me to guide clients thoughtfully through both active and quiet markets - so they’re never caught off guard by a shift.
The Bottom Line
We may be lucky to live - and sell - in a corner of the country that’s holding strong. But markets evolve. Timing, strategy, and smart representation are more important than ever.
If you’re thinking about buying or selling in Watch Hill, Weekapaug, or anywhere along the Eastern CT shoreline, I’d love to connect. Let’s talk about how current trends - both local and national - might affect your real estate goals.
