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$229,000 Mortgage Calculator
101 VISTAS CT
East Greenwich, RI / 02818
MLS# 1064755
Type: Condo
Complex Name: VISTAS ON THE TRAIL
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,029 sq. ft.
Style Type: One Level
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$324,900 Mortgage Calculator
9 TAYLOR CIR
East Greenwich, RI / 02818
MLS# 1069792
Type: Single Family
Neighborhood: MEADOWBROOK
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 2,596 sq. ft.
Lot Size: 11,194 sq. ft.
Listed by: Susan Lamendola PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$339,900 Mortgage Calculator
72 PARKER ST
Glocester, RI / 02814
MLS# 1063728
Type: Single Family
Neighborhood: WATERMAN LAKE PLAT
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,060 sq. ft.
Lot Size: 33,624 sq. ft.
Listed by: Ed Duffy RE/MAX Properties
Office: 401-232-3900
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$429,000 Mortgage Calculator
2 SPYGLASS CIR
Hopkinton, RI / 02832
MLS# 1058152
Type: Condo
Complex Name: RESIDENCES@FENNER HILL
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 2,800 sq. ft.
Style Type: Town House
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$525,000 Mortgage Calculator
41 HAWTHORNE AV
Barrington, RI / 02806
MLS# 1074599
Type: Single Family
Neighborhood: HARBOUR'S - RUMSTICK
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 1,984 sq. ft.
Lot Size: 12,588 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$130,977 Mortgage Calculator
24 THURBER ST
Pawtucket, RI / 02861
MLS# 1071402
Type: Single Family
Neighborhood: PINECREST DARLINGTON
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,020 sq. ft.
Lot Size: 5,000 sq. ft.
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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$214,900 Mortgage Calculator
19 LAKEVIEW DR
Smithfield, RI / 02828
MLS# 1065990
Type: Single Family
Neighborhood: GREENVILLE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,136 sq. ft.
Lot Size: 7,800 sq. ft.
Listed by: Sylvia Santilli Gateway Realty
Office: 401-954-8997
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$1,250,000 Mortgage Calculator
20 W EXTENSION ST
Newport, RI / 02840
MLS# 1070282
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 11,600 sq. ft.
Building Type: Commercial, Warehouse, Industrial, Food/Beverage, Hotel/Motel, Office, Retail, Mixed, Other
Listed by: Gordon King WILLIAM RAVEIS CHAPMAN ENSTONE
Office: 401-846-3800
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$279,900 Mortgage Calculator
5495 POST RD
East Greenwich, RI / 02818
MLS# 1070633
Type: Single Family
Neighborhood: LILLIBRIDGE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,380 sq. ft.
Lot Size: 4,966 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$225,900 Mortgage Calculator
3 ANDERSON AV
Warwick, RI / 02888
MLS# 1069389
Type: Single Family
Neighborhood: GASPEE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,307 sq. ft.
Lot Size: 7,125 sq. ft.
Listed by: Maryann Papa Signature Properties, Inc.
Office: 401-273-1900
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3rd Quarter Real Estate Sales Data Shows Home Sales Up


Friday, November 30, 2012

Single family homes sales rose 15 percent from the previous year in the third quarter, with 2235 single family homes sold. Median price, while down three percent from July through September, 2011, has begun to stabilize and distressed sales - those involving foreclosure or short sale - dropped to 23 percent of total sales from 25 percent last year.

Seventeen cities and towns saw increases in median price in the third quarter and 10 towns saw increases in both sales and price. The median price of all single family homes sold from July through September was $197,500 while those which sold through conventional means only, (not through foreclosure or short sale) was $230,000. Median price reflects the midpoint of sales, with half of the properties selling below the median and half selling for more. It does not represent an increase or decrease in the same property over time.

"It is noted that the lack of closed sales in a particular neighborhood has sometimes made it difficult to find value to support a sales price negotiated between a buyer and seller. This ends up lowering the final purchase price in some cases. Fortunately, we have a strong number of arm's length sales as pending inventory that will ultimately become the benchmark. We still have a bit more active inventory than we would like which also restrains price gains. The good news is that the supply of homes for sale has continued to decrease over the past several months, which is generally followed by rising prices," said Jamie Moore, 2012 President of the Rhode Island Association of Realtors.

Historically low interest rates and affordable prices have driven sales upward for fifteen consecutive months. According to the National Association of Realtors, housing affordability conditions are forecast to remain favorable through next year, with the 30-year fixed-rate mortgage staying near record lows for the balance of this year but gradually rising to four percent in the second half of 2013.

Multi-family unit sales also increased in the third quarter, rising six percent, while median price declined nearly four percent to $120,600. Distressed sales have decreased to 47 percent of total sales, down from 54 percent in the third quarter of 2011. The median price of non-distressed sales only was $159,900.

Condominium sales held relatively stable, increasing just .95 percent, and median sales price decreased six percent to $186,900. Foreclosures and short sales fell to 20 percent of total sales from 21 percent last year. The median price of non-distressed sales was $213,900.

"Although the elections can create uncertainty in the market, sales have not slowed down. Home sales and housing starts are up and local economists are reporting that things are looking better," said Moore. "This all bodes well for the housing market as we move toward 2013."

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