RILiving Mobile App »
 
My RILiving  

Already have an account? Login Now

Don’t have an account? Buyers and sellers can save their searches and listings. Create an Account

Featured Showcase Property
View All
$895,000 Mortgage Calculator
130 GRANITE DR
East Greenwich, RI / 02818
MLS# 1083514
Type: Single Family
Neighborhood: STONE RIDGE
Beds: 4 Beds
Baths: 4 Full / 1 Half
Living Area: 3,680 sq. ft.
Lot Size: 45,237 sq. ft.
Listed by: Sophia Karvunis PHIPPS REALTY
Office: 401-884-1030
Photos Handicap
$435,000 Mortgage Calculator
108 HERITAGE DR
Portsmouth, RI / 02871
MLS# 1113558
Type: Single Family
Neighborhood: POCASSET HEIGHTS
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,792 sq. ft.
Lot Size: 16,149 sq. ft.
Listed by: Maggie Elliott BerkshireHathaway HomeServices
Office: 401-849-1800
Photos
$95,000 Mortgage Calculator
32 PLEASANT VIEW DR
Little Compton, RI / 02837
MLS# 1057660
Type: Vacant Land
Neighborhood: SOUTH SHORE BEACH AREA
Lot Frontage: 388 ft.
Lot Size: 87,120 sq. ft.
Lot Type: Residential
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
Photos
$577,000 Mortgage Calculator
1200 HOPE ST
Bristol, RI / 02809
MLS# 1069726
Type: Single Family
Neighborhood: ROCKWELL
Beds: 5 Beds
Baths: 0 Full / 0 Half
Living Area: 5,300 sq. ft.
Lot Size: 52,272 sq. ft.
Listed by: Dory Skemp Coldwell Banker Res. Brokerage
Office: 401-247-0202
Photos Handicap
$399,900 Mortgage Calculator
45 HIGHVIEW AV
Warren, RI / 02885
MLS# 1116637
Type: Single Family
Neighborhood: HIGHVIEW AVENUE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,621 sq. ft.
Lot Size: 10,045 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 508-640-0505
Photos 360 View
$529,000 Mortgage Calculator
50 INDIAN RD
Little Compton, RI / 02837
MLS# 1092662
Type: Single Family
Neighborhood: INDIAN ROCK ACRES
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 1,438 sq. ft.
Lot Size: 16,000 sq. ft.
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
Photos 360 View
$329,000 Mortgage Calculator
11 PROSPECT ST
Barrington, RI / 02806
MLS# 1115975
Type: Single Family
Neighborhood: PRIMROSE
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 900 sq. ft.
Lot Size: 10,000 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
Photos 360 View
$385,000 Mortgage Calculator
140 PINE GLEN DR
East Greenwich, RI / 02818
MLS# 1117552
Type: Condo
Complex Name: PINE GLEN
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 2,000 sq. ft.
Style Type: Town House
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
Photos
$209,900 Mortgage Calculator
505 LAUREL HILL AV
Cranston, RI / 02920
MLS# 1119174
Type: Multi-Family
Neighborhood: ARLINGTON
# of Units: 2
Total Beds: | Unit1(2), Unit2(2), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 2,000 sq. ft.
Listed by: The Sussy Deleon Team RE/MAX New Horizons
Office: 401-331-8855
Photos 360 View
$350,000 Mortgage Calculator
1670 MAPLE VALLEY RD
Coventry, RI / 02827
MLS# 1097475
Type: Single Family
Neighborhood: GREENE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,408 sq. ft.
Lot Size: 130,680 sq. ft.
Listed by: Raquel Storti Keller Williams Realty
Office: 401-785-1700
Atlantic Home Loans Journey begins with us… Atlantic Home Loan
 
Hallmark Homes - Modular homes of distinction since 1975
Click here for The Wright Connection - RE/MAX Professionals Click here for Priority Builders Home Inspection
High Rocks Condominiums - A Distinct Community with Character and History The right home starts with the right loan - Navigant Credit Union - Click Here

News Detail

« Back to List
Home Sales Climb for 12th Consecutive Month
Tuesday, July 24, 2012

Warwick, RI, July 24, 2012 - Statistics released by the Rhode Island Association of Realtors today show that sales continued to climb in the Rhode Island housing market in June. With a 17 percent increase from June 2011, June marked a full year of increased monthly single family home sales from the prior year.  The increase in sales has caused the supply of homes on the market to fall steadily.   Median price fell six percent from June, 2011, to $202,500 but rose from $195,000 in May.  Pending sales, those under contract but not yet closed, continued to rise for the 13th consecutive month.  All trends point to a market that is regaining stability.

"With the market coming back into balance thanks to increased sales, prices have climbed each month since February.  Overall, we seem to be on a slow but steady path to recovery," said Jamie Moore, President of the Rhode Island Association of Realtors.

The percentage of distressed, single family home sales also continued to drop.  Twenty-three percent of all single family home sales sold through short sale or foreclosure in June, compared to 25 percent a year ago.  The median price of only those homes selling through conventional means was $240,000.

The multi-family market saw increases in both sales and median price, up 12 and 4 percent, respectively.  The median-priced multi-family property sold for $124,500 in June.  Median price was $150,000 when excluding those properties sold through short sales or foreclosure.  The number of multi-family properties for sale dropped 21 percent last month while the number of pending sales grew by 13 percent.  Though still high at 43 percent of all sales, the percentage of distressed sales continued to drop from 46 percent in June, 2011.

"The multi-family market is typically an investor's market.  Increased sales and pending sales indicate that they're seeing value in the market right now," said Moore.

The condo market did not fare as well in June, with sales down 5 percent and median price dropping to $177,600, an 11 percent decrease from the previous year.  However, pending sales, considered the best indicator of future market health, grew 100 percent in June.

The condo sector has seen the smallest percentage of distressed sales  – in June only 16 percent of sales sold through short sale or foreclosure.  The median price of conventional sales was $201,950.

The Rhode Island Association of Realtors will be releasing statistics for the second quarter on July 31.