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
$249,900 Mortgage Calculator
21 KULAS RD
West Warwick, RI / 02893
MLS# 1099430
Type: Single Family
Neighborhood: COWESETT
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 1,944 sq. ft.
Lot Size: 1,700 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
Photos 360 View
$485,000 Mortgage Calculator
41 HAWTHORNE AV
Barrington, RI / 02806
MLS# 1095119
Type: Single Family
Neighborhood: RUMSTICK VILLAGE - HARBOUR'S DOCK
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 1,982 sq. ft.
Lot Size: 12,588 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
Photos 360 View
$219,900 Mortgage Calculator
2 SCHOOL ST
Lincoln, RI / 02802
MLS# 1094345
Type: Condo
Complex Name: HIGHLAND FALLS
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,546 sq. ft.
Style Type: One Level
Listed by: Mary McNally Keller Williams Realty NRI
Office: 401-333-4900
Photos 360 View New Construction
$333,900 Mortgage Calculator
22 - 2 EXCALIBUR DR
Richmond, RI / 02892
MLS# 1086570
Type: Single Family
Neighborhood: CAMELOT ESTATES
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 1,904 sq. ft.
Lot Size: 52,972 sq. ft.
Listed by: George Daglieri RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
Photos 360 View
$279,000 Mortgage Calculator
69 SPRING AV
Barrington, RI / 02806
MLS# 1090003
Type: Single Family
Neighborhood: BAY SPRING
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,056 sq. ft.
Lot Size: 6,450 sq. ft.
Listed by: Anna Clancy Residential Properties, Ltd.
Office: 401-245-9600
Photos 360 View
$309,900 Mortgage Calculator
33 GORMLEY AV
Portsmouth, RI / 02871
MLS# 1098729
Type: Single Family
Neighborhood: ISLAND PARK
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,661 sq. ft.
Lot Size: 6,534 sq. ft.
Listed by: Carolann Silvia Carolann Ferrell Silvia
Office: 401-418-0789
Photos 360 View
$549,000 Mortgage Calculator
429 WEST MAIN RD
Little Compton, RI / 02837
MLS# 1093754
Type: Single Family
Neighborhood: WEST MAIN ROAD
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,038 sq. ft.
Lot Size: 23,000 sq. ft.
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
Photos 360 View Handicap New Construction
$479,000 Mortgage Calculator
32 HAMILTON FARM RD
North Kingstown, RI / 02852
MLS# 1089571
Type: Condo
Complex Name: HAMILTON FARM CONDOMIN
Beds: 2 Beds
Baths: 3 Full / 0 Half
Living Area: 2,215 sq. ft.
Style Type: One Level, Other
Listed by: Donna Sabitoni Fieldstone Properties, Inc.
Office: 401-295-0300
Photos 360 View Handicap
$89,000 Mortgage Calculator
271 - J GREAT ISLAND RD
Narragansett, RI / 02882
MLS# 1093528
Type: Single Family
Neighborhood: GALILEE
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 525 sq. ft.
Lot Size: 0 sq. ft.
Listed by: Stacy Corrigan Peace of Mind Property Managem
Office: 401-829-8323
Photos 360 View
$534,000 Mortgage Calculator
53 SANDY POINT FARM RD
Portsmouth, RI / 02871
MLS# 1077238
Type: Condo
Complex Name: Vanderbilt Stables
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,040 sq. ft.
Style Type: Town House
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
Click here for Wells Fargo -Heath Lefort
 
Rossi Law - Estate Title and Closing Attorney
Tony Verdi - Coldwell Banker Residential Brokerage Thinking about home improvement? Whether you're building your dream home or updating a kitchen or replacing an old floor, do it yourself and save. The remodeling and home building bargains are here at Builders Surplus!
Click here for C21 offices throughout Rhode Island Lila Delman - Serving buyers and sellers of fine properties since 1964.
« 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