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$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
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$299,000 Mortgage Calculator
253 MAIN ST
East Greenwich, RI / 02818
MLS# 1088915
Type: Commercial
Neighborhood: MAIN STREET / DOWNTOWN EG
# of Buildings: 1
Total Sq Ft: 960 sq. ft.
Building Type: Office, Retail, Commercial, Food/Beverage
Listed by: Tony Verdi COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$899,000 Mortgage Calculator
90 - B OLD MAIN RD
Little Compton, RI / 02837
MLS# 1048936
Type: Single Family
Neighborhood: WINDMILL HILL
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,072 sq. ft.
Lot Size: 178,595 sq. ft.
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$419,000 Mortgage Calculator
322 ANGELL RD
Lincoln, RI / 02865
MLS# 1127546
Type: Single Family
Neighborhood: LIMEROCK
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,280 sq. ft.
Lot Size: 20,996 sq. ft.
Listed by: Ari Tanasio Tanasio Realty Advisors
Office: 401-305-7888
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$768,500 Mortgage Calculator
65 CEDAR LANE
Jamestown, RI / 02835
MLS# 1108284
Type: Single Family
Neighborhood: JAMESTOWN
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 3,028 sq. ft.
Lot Size: 50,530 sq. ft.
Listed by: Brian Dupont Real Estate Masters, Inc.
Office: 401-738-1130
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$425,000 Mortgage Calculator
0 NANAQUAKET RD
Tiverton, RI / 02878
MLS# 1039145
Type: Vacant Land
Neighborhood: WATERFRONT NANAQUAKET
Lot Frontage: 640 ft.
Lot Size: 208,827 sq. ft.
Lot Type: Residential
Listed by: Marisa Ferris RESIDENTIAL PROPERTIES LTD.
Office: 401-783-2474
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$229,900 Mortgage Calculator
222 VAN BUREN ST
Warwick, RI / 02888
MLS# 1122784
Under Contract Status: Sale of Buyers Property Contingency
Type: Single Family
Neighborhood: LAKEWOOD/GASPEE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,065 sq. ft.
Lot Size: 6,970 sq. ft.
Listed by: Arnold Baskin Keller Williams Realty Leading
Office: 401-333-4900
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$275,000 Mortgage Calculator
901 FAIRWAY DR
Middletown, RI / 02842
MLS# 1125781
Type: Condo
Complex Name: WESTRIDGE
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 1,989 sq. ft.
Style Type: Town House
Listed by: Maggie Elliott BerkshireHathaway HomeServices
Office: 401-849-1800
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$329,900 Mortgage Calculator
0 PINECREST DR
Exeter, RI / 02822
MLS# 1117984
Type: Single Family
Neighborhood: CEDAR GROVE
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,740 sq. ft.
Lot Size: 12,500 sq. ft.
Listed by: Robert Marcello Fieldstone Properties, Inc.
Office: 401-295-0300
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$639,900 Mortgage Calculator
20 LONGBROOK DR
Cumberland, RI / 02864
MLS# 1098717
Type: Single Family
Neighborhood: LONGBROOK
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 3,000 sq. ft.
Lot Size: 36,154 sq. ft.
Listed by: Michael Milano RE/MAX Professionals
Office: 401-884-6050
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News Detail

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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."