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$999,000 Mortgage Calculator
239 SEASIDE DR
Jamestown, RI / 02835
MLS# 1043447
Type: Single Family
Neighborhood: JAMESTOWN SHORES
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 2,184 sq. ft.
Lot Size: 18,153 sq. ft.
Listed by: Donna SABITONI Fieldstone Properties, Inc.
Office: 401-295-0300
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$289,000 Mortgage Calculator
670 KILLINGLY ST
Johnston, RI / 02919
MLS# 1052841
Type: Multi-Family
Neighborhood: KILLINGLY/JOHNSTON
# of Units: 3
Total Beds: | Unit2(2), Unit3(1), Unit4(1), Beds
Total Baths: 3 | Unit2(1), Unit3(1), Unit4(1), Full
Building Area: 3,562 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$449,000 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: 2,700 sq. ft.
Style Type: Town House
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$828,000 Mortgage Calculator
7 RICHARD ST
Barrington, RI / 02806
MLS# 1061237
Type: Single Family
Neighborhood: RUMSTICK NEW HOME!
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 3,000 sq. ft.
Lot Size: 10,800 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$499,900 Mortgage Calculator
166 WHEELER AV
Cranston, RI / 02905
MLS# 1064863 NEW
Type: Single Family
Neighborhood: EDGEWOOD
Beds: 5 Beds
Baths: 2 Full / 0 Half
Living Area: 3,584 sq. ft.
Lot Size: 13,360 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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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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$1,475,000 Mortgage Calculator
85 LONG MEADOW DR
East Greenwich, RI / 02818
MLS# 1043779
Type: Single Family
Neighborhood: LONG MEADOW FARM
Beds: 4 Beds
Baths: 5 Full / 1 Half
Living Area: 6,378 sq. ft.
Lot Size: 50,530 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$1,499,900 Mortgage Calculator
68 MELBOURN RD
Warwick, RI / 02886
MLS# 1045661
Type: Single Family
Neighborhood: CEDAR TREE POINT
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 4,200 sq. ft.
Lot Size: 17,946 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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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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$799,500 Mortgage Calculator
4 HANNAH DR
Warwick, RI / 02888
MLS# 1063629
Type: Single Family
Neighborhood: GASPEE PLATEAU
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 4,012 sq. ft.
Lot Size: 11,869 sq. ft.
Listed by: Brian MORRIS PRESERVATION GROUP
Office: 401-225-7900
Lila Delman - Serving buyers and sellers of fine properties since 1964.
 
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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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