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$219,900 Mortgage Calculator
30 GADOURY DR
Cumberland, RI / 02864
MLS# 1093659
Type: Single Family
Neighborhood: GADOURY PLAT
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,587 sq. ft.
Lot Size: 12,196 sq. ft.
Listed by: Trish Marrapese MGM Realty Corporation
Office: 401-723-6461
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$259,900 Mortgage Calculator
60 SANDERS AV
Seekonk, MA / 02771
MLS# 1094391
Type: Single Family
Neighborhood: SOUTH
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,266 sq. ft.
Lot Size: 10,019 sq. ft.
Listed by: Marc Bibeault HomeSmart Professionals RE
Office: 401-921-5011
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$579,000 Mortgage Calculator
7 SEWELL RD
Narragansett, RI / 02882
MLS# 1092493
Type: Single Family
Neighborhood: SCARBOROUGH
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 1,768 sq. ft.
Lot Size: 5,000 sq. ft.
Listed by: Ernie ESPOSITO RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
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$210,000 Mortgage Calculator
30 FORREST ST
Warwick, RI / 02889
MLS# 1090143
Type: Single Family
Neighborhood: OAKLAND BEACH
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,848 sq. ft.
Lot Size: 5,000 sq. ft.
Listed by: Mary Iacono COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$399,900 Mortgage Calculator
66 ROLLINGWOOD DR
Johnston, RI / 02919
MLS# 1093126
Type: Single Family
Neighborhood: WESTBOUND ESTATES
Beds: 3 Beds
Baths: 2 Full / 2 Half
Living Area: 2,724 sq. ft.
Lot Size: 42,253 sq. ft.
Listed by: Amanda Hannon Williams & Stuart Real Estate
Office: 401-942-0200
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$399,900 Mortgage Calculator
2172 POST RD
South Kingstown, RI / 02879
MLS# 1095763
Type: Multi-Family
Neighborhood: PERRYVILLE
# of Units: 4
Total Beds: | Unit1(3), Unit2(1), Unit3(1), Unit4(3), Beds
Total Baths: 4 | Unit1(1), Unit2(1), Unit3(1), Unit4(1), Full
Building Area: 4,548 sq. ft.
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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$1,099,000 Mortgage Calculator
1 SPINNAKER DR
Barrington, RI / 02806
MLS# 1085582
Type: Single Family
Neighborhood: NAYATT POINT
Beds: 5 Beds
Baths: 3 Full / 1 Half
Living Area: 4,300 sq. ft.
Lot Size: 40,280 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$548,500 Mortgage Calculator
7 LINDEN LANE
Rehoboth, MA / 02769
MLS# 1087585
Type: Single Family
Neighborhood: THE PRESERVE AT BROOK ST.
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,624 sq. ft.
Lot Size: 60,000 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 508-640-0505
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$159,900 Mortgage Calculator
0 SIR MICHAEL CIR
South Kingstown, RI / 02892
MLS# 955313
Type: Vacant Land
Neighborhood: WEST KINGSTON
Lot Frontage: 176 ft.
Lot Size: 40,075 sq. ft.
Lot Type: Residential
Listed by: Marc Archambault Randall Realtors Real Living
Office: 401-783-9611
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$799,000 Mortgage Calculator
4 BOXWOOD CT
Barrington, RI / 02806
MLS# 1093879
Type: Single Family
Neighborhood: NAYATT
Beds: 4 Beds
Baths: 2 Full / 2 Half
Living Area: 4,271 sq. ft.
Lot Size: 38,199 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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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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