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230 NEGANSETT AV
Warwick, RI / 02888
MLS# 1074774
Type: Single Family
Neighborhood: PILGRIM PARK
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,051 sq. ft.
Lot Size: 9,463 sq. ft.
Listed by: Norman TOBIN Real Estate Masters, Inc.
Office: 401-738-1130
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$259,000 Mortgage Calculator
1155 HOPE ST
Bristol, RI / 02809
MLS# 1053655
Type: Single Family
Neighborhood: HOPE STREET
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,312 sq. ft.
Lot Size: 9,750 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 508-640-0505
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$384,000 Mortgage Calculator
441 SNAKE HILL RD
Glocester, RI / 02857
MLS# 1073584
Type: Single Family
Neighborhood: NORTH SCITUATE
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,772 sq. ft.
Lot Size: 83,199 sq. ft.
Listed by: Richard Lemos RE/MAX Preferred
Office: 401-353-2200
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$12,000,000 Mortgage Calculator
5 HOWARD ST
Newport, RI / 02840
MLS# 1070280
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 0 sq. ft.
Building Type: Hotel/Motel, Other, Commercial, Retail, Multi-Family, Food/Beverage, Office, Mixed
Listed by: Gordon King WILLIAM RAVEIS CHAPMAN ENSTONE
Office: 401-846-3800
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$549,900 Mortgage Calculator
10 LANTERN BROOK DR
Lincoln, RI / 02865
MLS# 1066113
Type: Single Family
Neighborhood: LIMEROCK
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 3,311 sq. ft.
Lot Size: 40,511 sq. ft.
Listed by: Susan Kelly Fenix Real Estate
Office: 401-475-4999
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$209,000 Mortgage Calculator
22 CLARKE RD
Coventry, RI / 02816
MLS# 1064700
Type: Single Family
Neighborhood: SCIT LINE / BLACKROCK
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,476 sq. ft.
Lot Size: 60,984 sq. ft.
Listed by: Janet Flori AMERICAN DREAM REALTY
Office: 401-463-7800
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$499,000 Mortgage Calculator
35 MOHAWK DR
Portsmouth, RI / 02871
MLS# 1073456
Type: Single Family
Neighborhood: OFF INDIAN AVENUE
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 3,515 sq. ft.
Lot Size: 19,745 sq. ft.
Listed by: Nancy Crockett Crockett Realty, Inc.
Office: 401-741-5920
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$169,900 Mortgage Calculator
97 TURNER ST
Warwick, RI / 02886
MLS# 1077600
Type: Single Family
Neighborhood: STRAWBERRY FIELD
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 912 sq. ft.
Lot Size: 8,681 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$259,000 Mortgage Calculator
42 HIGH ST
Bristol, RI / 02809
MLS# 1058216
Type: Condo
Complex Name: CODMAN PLACE
Beds: 1 Beds
Baths: 1 Full / 1 Half
Living Area: 1,080 sq. ft.
Style Type: Town House
Listed by: Debra Jobin RE/MAX River's Edge - Bristol
Office: 401-254-1776
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$169,900 Mortgage Calculator
36 EAGLE RUN
Warwick, RI / 02889
MLS# 1075423
Type: Condo
Complex Name: EAGLES NEST
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,218 sq. ft.
Style Type: Town House
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
 
The Mello Group is a team of full-time Real Estate professionals serving Rhode Island and Southeastern Massachusetts.
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Click here for the Law Offices of George M. Cappello, LTD Trust your investment with people invested in South County - Bay Realty
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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.

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