New Record - Residential Properties Tops $1.3 Billion in Sales in 2021
Tuesday, January 18, 2022
2021 was a banner year for Rhode Island realtors and no one had a better year than Residential Properties.
Despite seeing a slight decline in the number of single-family sales, the Rhode Island real estate market still managed to set a new all-time mark for total sales, rising by almost 7% year-over-year.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTCelebrating its 40th anniversary this past November, Rhode Island’s largest independent brokerage, Residential Properties Ltd., completed a record-setting year in 2021 by posting a new all-time mark with over $1.3 billion in Statewide MLS sales volume. This comes after a 2020 campaign that saw RPL become the first and only company to ever top the $1 billion mark in Statewide MLS sales.
“I am so proud of all the agents and our entire team for breaking another Rhode Island real estate record for a second year in a row,” said RPL CEO & President Sally Lapides. “We are truly humbled by all the support from our clients and cannot be more grateful for the opportunity to have worked with them.”
Overall, RPL recorded $1,304,655,905 in total sales volume during 2021 – over $317 million more than the next closest competitor. According to statewide MLS data, Residential Properties has now been the leader in sales volume every year on record, dating all the way back to 1997. The company also led the state with 2,283 total sales, which was over 733 (or over 47%) more sales than the next closest competitor. In fact, this marked the highest number of sales any Rhode Island brokerage has recorded since 2004.
Since 2018, Residential Properties has expanded from five local offices to a total of nine locations, including new offices in Newport and Little Compton just this past year.
“I never thought that the company would grow to this size,” Lapides said. “But no matter how large it has gotten, it still holds its original values at its core.”
"it was the Rhode Island luxury market that stood out the most in 2021. Year-over-year sales for single family homes over $1 million rose by nearly 50%, reaching a new all-time high for the sixth consecutive year. In fact, the number of luxury sales in Rhode Island has now increased by 134% in just the past two years," said Lapides.
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