Yes, RESIDENCES is a Scrabble word!

Letter values in Scrabble US: R 1, E 1, S 1, I 1, D 2, E 1, N 1, C 3, E 1, S 1.

Is it a valid word?

RESIDENCES is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

any address at which you dwell more than temporarily
the official house or establishment of an important person (as a sovereign or president)
the act of dwelling in a place
a large and imposing house

Also: mansion house.