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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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$169,900 Mortgage Calculator
76 SEVENTH ST
East Providence, RI / 02914
MLS# 1077231
Type: Single Family
Neighborhood: PIERCE FIELD
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,262 sq. ft.
Lot Size: 4,009 sq. ft.
Listed by: Dan Saffer Westchester Properties
Office: 401-954-4811
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$1,295,000 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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$329,999 Mortgage Calculator
1762 PLAINFIELD PIKE
Cranston, RI / 02921
MLS# 1087404
Type: Single Family
Neighborhood: WESTERN CRANSTON
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,730 sq. ft.
Lot Size: 43,560 sq. ft.
Listed by: Arnold Baskin Keller Williams Realty Leading
Office: 401-333-4900
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$329,900 Mortgage Calculator
161 WINCHESTER DR
South Kingstown, RI / 02879
MLS# 1068733
Type: Single Family
Neighborhood: WINCHESTER DR./POND ST
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,408 sq. ft.
Lot Size: 10,019 sq. ft.
Listed by: Jason Saphire www.EntryOnly.com
Office: 877-249-5478
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$1,199,000 Mortgage Calculator
337 RUMSTICK RD
Barrington, RI / 02806
MLS# 1088962
Type: Single Family
Neighborhood: RUMSTICK POINT
Beds: 4 Beds
Baths: 4 Full / 2 Half
Living Area: 5,355 sq. ft.
Lot Size: 40,128 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$379,900 Mortgage Calculator
180 COWESETT GREEN DR
Warwick, RI / 02886
MLS# 1084239
Type: Single Family
Neighborhood: COWESETT GREEN
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,292 sq. ft.
Lot Size: 19,127 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$179,000 Mortgage Calculator
511 CHILD ST
Warren, RI / 02885
MLS# 1088751
Type: Condo
Complex Name: Kickemuit Klose
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,245 sq. ft.
Style Type: Town House
Listed by: George Saber RE/MAX River's Edge
Office: 401-245-2000
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$324,900 Mortgage Calculator
49 CARLTON AV
Warwick, RI / 02889
MLS# 1084990
Type: Single Family
Neighborhood: WARWICK NECK
Beds: 4 Beds
Baths: 2 Full / 2 Half
Living Area: 2,478 sq. ft.
Lot Size: 8,000 sq. ft.
Listed by: Mark McHugh Clearmark Real Estate
Office: 401-641-3842
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$770,000 Mortgage Calculator
21 ROSEWOOD AV
Narragansett, RI / 02882
MLS# 1083015
Type: Single Family
Neighborhood: PT. JUDITH OCEAN FRONT
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,680 sq. ft.
Lot Size: 11,973 sq. ft.
Listed by: Tony Verdi COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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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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