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
Photos 360 View
$2,795,000 Mortgage Calculator
318 RUMSTICK RD
Barrington, RI / 02806
MLS# 1060625
Type: Single Family
Neighborhood: RUMSTICK POINT
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,740 sq. ft.
Lot Size: 309,157 sq. ft.
Listed by: Christina Ardente Residential Properties, Ltd.
Office: 401-245-9600
Photos 360 View
$899,900 Mortgage Calculator
25 BURNS WY
East Greenwich, RI / 02818
MLS# 1064621 NEW
Type: Single Family
Neighborhood: CHESTNUT HILL ESTATES
Beds: 4 Beds
Baths: 5 Full / 0 Half
Living Area: 5,432 sq. ft.
Lot Size: 43,600 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
Photos 360 View
$769,500 Mortgage Calculator
4 HANNAH DR
Warwick, RI / 02888
MLS# 1063629
Type: Single Family
Neighborhood: GASPEE PLATEAU
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 4,012 sq. ft.
Lot Size: 11,869 sq. ft.
Listed by: Brian MORRIS PRESERVATION GROUP
Office: 401-225-7900
Photos
$999,000 Mortgage Calculator
239 SEASIDE DR
Jamestown, RI / 02835
MLS# 1043447
Type: Single Family
Neighborhood: JAMESTOWN SHORES
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 2,184 sq. ft.
Lot Size: 18,153 sq. ft.
Listed by: Donna SABITONI Fieldstone Properties, Inc.
Office: 401-295-0300
Photos 360 View
$759,900 Mortgage Calculator
25 PHEASANT DR
East Greenwich, RI / 02818
MLS# 1064141
Type: Single Family
Neighborhood: HIGH HAWK
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 3,738 sq. ft.
Lot Size: 44,431 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
Photos
$159,000 Mortgage Calculator
0 JULIANA DR
Cranston, RI / 02921
MLS# 1045401
Type: Vacant Land
Neighborhood: WESTERN
Lot Frontage: 277 ft.
Lot Size: 79,972 sq. ft.
Lot Type: Residential, Total Residential Development
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
Photos
$1,185,000 Mortgage Calculator
29 GLEN AV
Barrington, RI / 02806
MLS# 1053871
Type: Single Family
Neighborhood: NAYATT POINT WATERVIEW
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,229 sq. ft.
Lot Size: 27,200 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
Photos 360 View
$289,000 Mortgage Calculator
70 SOUTH BAY DR
Narragansett, RI / 02882
MLS# 1044542
Type: Condo
Complex Name: NORTHGATE
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,762 sq. ft.
Style Type: Town House
Listed by: Ernie ESPOSITO RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
Photos 360 View
$369,900 Mortgage Calculator
2005 MIDDLE RD
East Greenwich, RI / 02818
MLS# 1060653
Type: Single Family
Neighborhood: THE WOODS
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,200 sq. ft.
Lot Size: 44,867 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
Photos
$439,900 Mortgage Calculator
1224 - 1232 GREENWICH AV
Warwick, RI / 02886
MLS# 1052795
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 3,835 sq. ft.
Building Type: Office
Listed by: Gayle MOONE Real Estate Masters, Inc.
Office: 401-738-1130
Click here for Wells Fargo -Heath Lefort
 
Maverick Funding- The Big Bank Alternative
Lila Delman - Serving buyers and sellers of fine properties since 1964. Click here for Picerne Homes
High Rocks Condominiums - A Distinct Community with Character and History Click here for Griggs & Browne
« 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.

Follow Us on Facebook Download the RILiving Mobile App View Our YouTube Channel