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Newport Life magazine
Newport County’s real estate agents were inundated with phone calls after the quarantine lifted last June. Knee-jerk cancellations from COVID-weary renters, coupled with inquiries from work-from-home city slickers fleeing metro areas, forced agents to quickly pivot into high gear.
As a result, the Newport County rental market soared. The Multiple Listing Service recorded 626 leases here in 2020, versus just 399 in 2019. Of those, 75 were above $5,000 per month, versus 37 above that common summer price range in 2019.
“This won’t stop people from coming. They will have more confidence in 2021,” says Tina Wiley of Gustave White Sotheby’s International Realty. “We were already seeing them look for next summer in December.”