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$314,900 Mortgage Calculator
48 SKATING POND LANE
North Kingstown, RI / 02874
MLS# 1059535
Type: Vacant Land
Neighborhood: SAUNDERSTOWN
Lot Frontage: 333 ft.
Lot Size: 35,297 sq. ft.
Lot Type: Residential
Listed by: Alyce Kleczek Bay Realty, LTD.
Office: 401-789-3003
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$134,900 Mortgage Calculator
171 LANE 4 .
Warwick, RI / 02888
MLS# 1099189
Type: Single Family
Neighborhood: GASPEE POINT/ SPRING GR
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 980 sq. ft.
Lot Size: 0 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$329,900 Mortgage Calculator
161 WINCHESTER DR
South Kingstown, RI / 02879
MLS# 1068733
Type: Single Family
Neighborhood: WINCHESTER DR./POND ST
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,408 sq. ft.
Lot Size: 10,019 sq. ft.
Listed by: Jason Saphire www.EntryOnly.com
Office: 877-249-5478
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$189,900 Mortgage Calculator
464 HIGH ST
Cumberland, RI / 02864
MLS# 1098988
Type: Single Family
Neighborhood: HIGH ST
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,425 sq. ft.
Lot Size: 5,227 sq. ft.
Listed by: Trish Marrapese MGM Realty Corporation
Office: 401-723-6461
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$245,000 Mortgage Calculator
18 FRIENDSHIP FARM LANE
Little Compton, RI / 02837
MLS# 1089135
Type: Vacant Land
Neighborhood: FRIENDSHIP FARM / EAST MAIN RD
Lot Frontage: 175 ft.
Lot Size: 232,610 sq. ft.
Lot Type: Residential
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$749,711 Mortgage Calculator
135 INDIAN TRAIL SOUTH .
South Kingstown, RI / 02879
MLS# 1097795
Type: Single Family
Neighborhood: INDIAN LAKE
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,384 sq. ft.
Lot Size: 12,632 sq. ft.
Listed by: Helen Coupe RE/MAX Metro
Office: 401-736-6100
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$88,888 Mortgage Calculator
271 - UnitI GREAT ISLAND RD
Narragansett, RI / 02882
MLS# 1094256
Type: Single Family
Neighborhood: GALILEE
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 751 sq. ft.
Lot Size: 0 sq. ft.
Listed by: Stacy Corrigan Peace of Mind Property Managem
Office: 401-829-8323
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$315,000 Mortgage Calculator
166 DOVER LANE
Richmond, RI / 02812
MLS# 1097047
Type: Single Family
Neighborhood: CASTLE RIDGE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,732 sq. ft.
Lot Size: 40,075 sq. ft.
Listed by: Marc Bibeault HomeSmart Professionals RE
Office: 401-921-5011
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$415,000 Mortgage Calculator
115 AMY HART PATH
Little Compton, RI / 02837
MLS# 1094330
Type: Single Family
Neighborhood: COLEBROOK
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 3,000 sq. ft.
Lot Size: 30,343 sq. ft.
Listed by: Cathy Wicks Hogan Associates
Office: 401-680-6588
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$5,293,000 Mortgage Calculator
26 LEES WHARF ST
Newport, RI / 02840
MLS# 1071301
Type: Condo
Complex Name: Newport Harbor Marina
Beds: 0 Beds
Baths: 0 Full / 0 Half
Living Area: 0 sq. ft.
Style Type: Slip
Listed by: Gordon King WILLIAM RAVEIS CHAPMAN ENSTONE
Office: 401-846-3800
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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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