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$179,000 Mortgage Calculator
401 SUCCOTASH RD
South Kingstown, RI / 02879
MLS# 1075564
Type: Condo
Complex Name: Snug Harbour Condos
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 440 sq. ft.
Style Type: One Level
Listed by: CHARLOTTE Cummiskey South Point Realty Group, LLC
Office: 401-741-5858
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$199,900 Mortgage Calculator
845 OLD BAPTIST RD
North Kingstown, RI / 02852
MLS# 1059204
Type: Multi-Family
Neighborhood: STONY LANE
# of Units: 2
Total Beds: | Unit1(2), Unit2(1), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 1,505 sq. ft.
Listed by: The Weller Team RE/MAX Central
Office: 401-823-7600
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$1,079,800 Mortgage Calculator
1 WESTFIELD DR
East Greenwich, RI / 02818
MLS# 1070843 BACK ON MKT
Type: Single Family
Neighborhood: WESTWOOD FARMS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 6,248 sq. ft.
Lot Size: 84,506 sq. ft.
Listed by: Millie Pereira CENTURY 21 Crossroads
Office: 401-766-7545
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$265,000 Mortgage Calculator
1 NEW RD
East Providence, RI / 02916
MLS# 1072362
Type: Condo
Complex Name: Rumford Gardens
Beds: 2 Beds
Baths: 2 Full / 2 Half
Living Area: 1,600 sq. ft.
Style Type: Town House
Listed by: Jessica Wasserman Wasserman Homes & Properties
Office: 401-274-5700
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$87,277 Mortgage Calculator
28 - 30 ARMINGTON AV
Providence, RI / 02908
MLS# 1068827
Type: Multi-Family
Neighborhood: MOUNT PLEASANT
# of Units: 2
Total Beds: | Unit1(2), Unit2(3), Beds
Total Baths: 3 | Unit1(1), Unit2(2), Full
Building Area: 1,693 sq. ft.
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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$495,000 Mortgage Calculator
1400 HOPE ST
Bristol, RI / 02809
MLS# 1070046
Type: Single Family
Neighborhood: WEST SIDE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,860 sq. ft.
Lot Size: 46,200 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$129,900 Mortgage Calculator
45 TAPPAN ST
Providence, RI / 02908
MLS# 1063377
Type: Single Family
Neighborhood: PROV COLLEGE AREA
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,680 sq. ft.
Lot Size: 3,680 sq. ft.
Listed by: Butch Simoneau RE/MAX American Dream
Office: 401-721-5810
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$575,000 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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$124,900 Mortgage Calculator
3399 POST RD
Warwick, RI / 02886
MLS# 1067411
Type: Condo
Complex Name: Village Green Apponaug
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 992 sq. ft.
Style Type: Town House
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
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$189,000 Mortgage Calculator
42 KIMBALL ST
Providence, RI / 02908
MLS# 1071595
Type: Single Family
Neighborhood: MT PLEASANT ELMHURST TRIGGS GOLF
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,582 sq. ft.
Lot Size: 5,226 sq. ft.
Listed by: Janis CAPPELLO 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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