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18 MAPLE AV
Narragansett, RI / 02882
MLS# 1070266
Type: Single Family
Neighborhood: SAND HILL COVE
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 1,793 sq. ft.
Lot Size: 5,000 sq. ft.
Listed by: Ernie ESPOSITO RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
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$219,900 Mortgage Calculator
48 CAPITOL ST
Johnston, RI / 02919
MLS# 1076008
Type: Single Family
Neighborhood: SIMMONSVILLE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,101 sq. ft.
Lot Size: 8,700 sq. ft.
Listed by: The Stone Alliance Coldwell Banker Res. Brokerage
Office: 401-739-9500
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$1,200,000 Mortgage Calculator
151 LATEN KNIGHT RD
Cranston, RI / 02921
MLS# 1068419
Type: Single Family
Neighborhood: WESTERN CRANSTON
Beds: 8 Beds
Baths: 6 Full / 1 Half
Living Area: 4,300 sq. ft.
Lot Size: 435,600 sq. ft.
Listed by: Jason Corsini Northeast Realty Asssociates
Office: 401-935-8082
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$339,900 Mortgage Calculator
49 KEATS DR
North Kingstown, RI / 02852
MLS# 1078351
Type: Single Family
Neighborhood: NORTHBRIAR/QUIDNESSETT
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,690 sq. ft.
Lot Size: 30,640 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$449,000 Mortgage Calculator
27 SOUTH ST
Barrington, RI / 02806
MLS# 1080652
Type: Single Family
Neighborhood: SOUTH STREET LANDING
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,010 sq. ft.
Lot Size: 8,857 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$258,900 Mortgage Calculator
7 HONEY LOCUST CT
Coventry, RI / 02816
MLS# 1071628
Type: Single Family
Neighborhood: RED OAK ESTATES
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,308 sq. ft.
Lot Size: 14,000 sq. ft.
Listed by: Frank ANTONETTI Real Estate Masters, Inc.
Office: 401-738-1130
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$424,900 Mortgage Calculator
891 TOWER HILL RD
North Kingstown, RI / 02852
MLS# 1071572
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 1,350 sq. ft.
Building Type: Commercial
Listed by: Debbie Grimaldi RE/MAX 1st Choice
Office: 401-943-6111
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$249,900 Mortgage Calculator
1214 PUTNAM PIKE
Glocester, RI / 02814
MLS# 1075288
Type: Single Family
Neighborhood: CHEPACHET
Beds: 5 Beds
Baths: 2 Full / 1 Half
Living Area: 2,392 sq. ft.
Lot Size: 9,500 sq. ft.
Listed by: Lorraine Bandoni CrossRoads Real Estate Group
Office: 401-568-6111
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$1,599,000 Mortgage Calculator
38 MISS FRY DR
East Greenwich, RI / 02818
MLS# 1052296
Type: Single Family
Neighborhood: WESTWOOD FARMS
Beds: 5 Beds
Baths: 5 Full / 2 Half
Living Area: 7,588 sq. ft.
Lot Size: 87,120 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$600,000 Mortgage Calculator
0 JOHNNYCAKE LANE
Portsmouth, RI / 02871
MLS# 982390
Type: Vacant Land
Neighborhood: WATER STREET
Lot Frontage: 129 ft.
Lot Size: 41,031 sq. ft.
Lot Type: Residential
Listed by: Shirley Kosoff KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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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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