The Resurgence of Westerly: Mott & Chace’s Masterson on Red-Hot Southern RI Real Estate
Friday, April 16, 2021
Geb Masterson with Mott & Chace Sotheby’s International Realty talked about why the southern Rhode Island real estate market — and Westerly in particular — is so "hot," when he appeared on GoLocal LIVE this week.
“The Watch Hill area — which obviously is part of Westerly — I’ve been very fortunate my whole life to have lived there,” said Masterson. “I know it sounds cliche, it’s a slice of heaven. We’re surrounded by water on three sides, we’ve got wonderful, wide beaches. You’ve got the village of Watch Hill, the Ocean House, clubs for those who want them.”
Masterson said the entire community — even beyond Watch Hill — has benefited from both state investment, celebrity homeowners — and out-of-state interest.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“The Town of Westerly has had a huge resurgence in the past 5-10 years — a lot of money’s been poured into there, it’s probably one of the largest opportunity zones the state of Rhode Island has set up, and that has been a big boon for it,” he said.
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“The whole of Westerly is interesting. You’ve got Westerly itself; Weekapaug, which is part of Westerly, which is a little quieter and family-oriented — and then you have the Misquamicut area and Watch Hill, and there’s a lot of affluence there,” he said.
“What we’re finding is the New York money — even the Boston money — the Boston money is finding it’s even easier to get to Watch Hill than the Cape or islands because of traffic,” said Masterson. “New York — [people] can come to the area for a fraction of what it costs in the Hamptons.”
“The price, valuations in the area — just keep going up,” he said.
Mott & Chace Sotheby's International Realty is a paid content partner of GoLocal and appears weekly on GoLocal LIVE.
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