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
$2,875,000 Mortgage Calculator
54 BUCKNAM RD
Richmond, RI / 02894
MLS# 1119795
Type: Single Family
Neighborhood: WOOD RIVER
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,900 sq. ft.
Lot Size: 6,873,768 sq. ft.
Listed by: Allen Gammons BHHS Gammons Realty
Office: 401-886-6100
Photos 360 View
$449,000 Mortgage Calculator
33 WALTER ST
Barrington, RI / 02806
MLS# 1114207
Type: Single Family
Neighborhood: NAYATT SCHOOL DISTRICT
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,000 sq. ft.
Lot Size: 7,500 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
360 View New Construction
$371,600 Mortgage Calculator
80 - Lot19 TEAKWOOD DRIVE WEST .
Coventry, RI / 02816
MLS# 1120992
Type: Single Family
Neighborhood: THE OAKS
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 1,936 sq. ft.
Lot Size: 41,108 sq. ft.
Listed by: Glenn Carpenter RE/MAX Professionals
Office: 401-884-6050
Photos Handicap
$399,900 Mortgage Calculator
45 HIGHVIEW AV
Warren, RI / 02885
MLS# 1116637
Type: Single Family
Neighborhood: HIGHVIEW AVENUE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,621 sq. ft.
Lot Size: 10,045 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 508-640-0505
Photos
$329,900 Mortgage Calculator
119 HEMLOCK AV
Warwick, RI / 02886
MLS# 1095792
Type: Single Family
Neighborhood: OLDE BUTTONWOODS
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 1,925 sq. ft.
Lot Size: 15,000 sq. ft.
Listed by: Norman TOBIN Real Estate Masters, Inc.
Office: 401-738-1130
Photos 360 View
$350,000 Mortgage Calculator
1670 MAPLE VALLEY RD
Coventry, RI / 02827
MLS# 1097475
Type: Single Family
Neighborhood: GREENE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,408 sq. ft.
Lot Size: 130,680 sq. ft.
Listed by: Raquel Storti Keller Williams Realty
Office: 401-785-1700
Photos 360 View
$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
Photos 360 View
$385,000 Mortgage Calculator
140 PINE GLEN DR
East Greenwich, RI / 02818
MLS# 1117552
Type: Condo
Complex Name: PINE GLEN
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 2,000 sq. ft.
Style Type: Town House
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
Photos 360 View
$529,000 Mortgage Calculator
4 HOMESTEAD AV
Barrington, RI / 02806
MLS# 1124216 NEW
Type: Single Family
Neighborhood: PRIMROSE
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,645 sq. ft.
Lot Size: 10,070 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
Photos 360 View
$499,000 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 Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
Homestar Mortgage – the Trusted Home Lender
 
Click Here for Janis Cappello Coldwell Banker Residential Brokerage
Coastway has the solution and the personalized service you deserve. Click here for The Wright Connection - RE/MAX Professionals
High Rocks Condominiums - A Distinct Community with Character and History Lila Delman - Serving buyers and sellers of fine properties since 1964.

News Detail

« Back to List
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."