Seaport Multifamily Brief – Issue #5: From Blueprint to Reality

Posted by Tim Bray on April 30th, 2026

Seaport Multifamily Brief | Issue #5

From Blueprint to Reality

New construction, hotel conversions, and data-backed underwriting are showing us exactly how Coastal Connecticut and Southern Rhode Island are responding to the housing shortage.

Powered by CoStar Data, Apartments.com Market Intelligence, and Seaport Due Diligence The Market Is Moving

The Housing Conversation Has Shifted from Theory to Execution.

For the last several years, everyone has talked about the shortage of housing. But the more important question is no longer whether demand exists. It is whether supply can be created quickly enough, intelligently enough, and in the right locations.

In this issue of the Seaport Multifamily Brief, we highlight…

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The Seaport Multifamily Brief — Issue 3 | March 2026: Coastal Markets Hold the Line Amid Supply Constraints

Posted by Tim Bray on March 18th, 2026

The Seaport Multifamily Brief — Issue 3 | March 2026

Coastal Multifamily Holds the Line — But the Story Is More Nuanced Than the Data Suggests

Executive Summary

At first glance, multifamily data across New London County (CT), Middlesex County (CT), Washington County (RI), and Newport County (RI) suggests a familiar narrative:

Low supply. Stable rents. Strong pricing.

But on the ground, a more important story is unfolding.

Seaport Insight:

Supply is not absent—it is concentrated. And where it exists, it is actively testing absorption.

New London County, CT — A Market Splitting in Real Time

New London County is no longer a single multifamily market. It is evolving into three distinct submarkets, each behaving differently.

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The Market Is Splitting: Why Some Homes Are in a Seller’s Market While Others Are Not

Posted by Tim Bray on March 5th, 2026

The Market Is Splitting: Why Price Range Now Matters More Than Ever

Series: When the Market Changes – Lessons From Real Estate Cycles

In real estate, markets rarely move in one single direction.

Instead, they tend to evolve gradually. Certain segments begin to change first while others remain strong. Over time those shifts spread across the broader market.

Today we are beginning to see the early stages of that process.

Across many towns in Southeastern Connecticut and coastal Rhode Island, the market is no longer behaving as one unified environment. Instead, it is fragmenting by price range.

Some price tiers remain firmly in seller territory, while others are moving toward balance.

Understanding this shift requires returning to…

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The Real Story Behind Today’s Housing Prices

Posted by Tim Bray on February 4th, 2026

The Housing Market Isn’t Expensive — It’s Uneven

Prices feel high.
Rates are higher.
Homes aren’t moving the way they did a few years ago.

So the conclusion feels obvious:

The market must be overpriced.

That conclusion is understandable — and still incomplete.

Because there is no single housing market.

There are hundreds of micro-markets, shaped by town, neighborhood, and price range. And what’s happening right now has far less to do with “the market” than it does with where a property sits within its local affordability structure.

Median prices don’t measure affordability

When people hear that the median home price in Connecticut is around $460,000, or that Rhode Island is near $480,000, the reaction is predictable:

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