RILiving Mobile App »
 
My RILiving  

Already have an account? Login Now

Don’t have an account? Buyers and sellers can save their searches and listings. Create an Account

Featured Showcase Property
View All
Photos
$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
Photos 360 View
$374,000 Mortgage Calculator
441 SNAKE HILL RD
Glocester, RI / 02857
MLS# 1073584
Type: Single Family
Neighborhood: NORTH SCITUATE
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,772 sq. ft.
Lot Size: 83,199 sq. ft.
Listed by: Richard Lemos RE/MAX Preferred
Office: 401-353-2200
Photos 360 View
$339,000 Mortgage Calculator
2108 LILIA LANE
Dighton, MA / 02715
MLS# 1082942
Type: Single Family
Neighborhood: MAIN ST
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 1,904 sq. ft.
Lot Size: 21,000 sq. ft.
Listed by: Gina Perry The Mello Group, Inc.
Office: 508-640-0505
Photos
$329,900 Mortgage Calculator
45 RAYMOND DR
Cumberland, RI / 02864
MLS# 1084204
Type: Single Family
Neighborhood: DIAMOND HILL
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 2,284 sq. ft.
Lot Size: 27,442 sq. ft.
Listed by: Brian Dupont Real Estate Masters, Inc.
Office: 401-738-1130
Photos
$99,900 Mortgage Calculator
43 BULLOCKS POINT AV
East Providence, RI / 02915
MLS# 1063480
Type: Condo
Complex Name: STONEGATE
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 942 sq. ft.
Style Type: One Level
Listed by: Joyce Motta East Bay Real Estate
Office: 401-253-2983
Photos Handicap
$354,500 Mortgage Calculator
36 WILLIAMS CROSSING RD
Coventry, RI / 02827
MLS# 1068386 BACK ON MKT
Type: Single Family
Neighborhood: GREENE
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 3,218 sq. ft.
Lot Size: 146,362 sq. ft.
Listed by: Raquel Storti Keller Williams Realty
Office: 401-785-1700
Photos
$347,900 Mortgage Calculator
17 LAWNDALE DR
Warwick, RI / 02818
MLS# 1072386
Type: Single Family
Neighborhood: POTOWOMUT
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,168 sq. ft.
Lot Size: 12,500 sq. ft.
Listed by: Tony Verdi COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
Photos
$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
Photos
$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
Photos
$179,500 Mortgage Calculator
1 TUPPERWARE DR
North Smithfield, RI / 02896
MLS# 1082628
Type: Condo
Complex Name: THE HIGH ROCKS
Beds: 1 Beds
Baths: 1 Full / 0 Half
Living Area: 1,215 sq. ft.
Style Type: Loft
Listed by: Ellen Morrissey Fontaine Real Estate, Inc.
Office: 401-769-7821
Click here for Wells Fargo -Heath Lefort
 
Click Here for Janis Cappello Coldwell Banker Residential Brokerage
Gentry Moving & Office Installation is a family owned and operated business with over 42 years of collective moving experience. Click here for Janis Cappello - Coldwell Banker
Go to AAA Southern New England Visit ResidentialProperties.com Today!
« Back to List

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."

Follow Us on Facebook Download the RILiving Mobile App View Our YouTube Channel