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$340,000 Mortgage Calculator
78 WARNER AV
Portsmouth, RI / 02872
MLS# 1065159
Type: Single Family
Neighborhood: PRUDENCE ISLAND
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,613 sq. ft.
Lot Size: 7,500 sq. ft.
Listed by: Elizabeth Rene William Raveis Chapman Enstone
Office: 401-396-9849
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$159,000 Mortgage Calculator
0 JULIANA DR
Cranston, RI / 02921
MLS# 1045401
Type: Vacant Land
Neighborhood: WESTERN
Lot Frontage: 277 ft.
Lot Size: 79,972 sq. ft.
Lot Type: Residential, Total Residential Development
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$316,800 Mortgage Calculator
29 CASTLE DR
Scituate, RI / 02831
MLS# 1077792
Type: Single Family
Neighborhood: HOPE,KNIGHT'S FARM AREA
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,248 sq. ft.
Lot Size: 60,039 sq. ft.
Listed by: Laurie Audet Keller Williams Realty
Office: 401-785-1700
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$314,888 Mortgage Calculator
30 BRISAS CIR
East Greenwich, RI / 02818
MLS# 1072395
Type: Single Family
Neighborhood: LAS BRISAS
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,316 sq. ft.
Lot Size: 41,665 sq. ft.
Listed by: Ed Magilton RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
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$489,900 Mortgage Calculator
400 VARNUM DR
Warwick, RI / 02818
MLS# 1065143
Type: Single Family
Neighborhood: HERITAGE PARK
Beds: 6 Beds
Baths: 3 Full / 1 Half
Living Area: 4,080 sq. ft.
Lot Size: 59,059 sq. ft.
Listed by: Sally Corbin Residential Properties LTD.
Office: 401-885-8400
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$138,900 Mortgage Calculator
35 NORFOLK ST
Cranston, RI / 02910
MLS# 1067713
Type: Single Family
Neighborhood: AUBURN
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,044 sq. ft.
Lot Size: 4,000 sq. ft.
Listed by: Wayne Farina State Properties, Inc.
Office: 401-824-4561
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$224,900 Mortgage Calculator
1850 MINERAL SPRING AV
North Providence, RI / 02904
MLS# 1065948
Type: Single Family
Neighborhood: MINERAL SPRING
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 4,136 sq. ft.
Lot Size: 14,187 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$844,000 Mortgage Calculator
1200 HOPE ST
Bristol, RI / 02809
MLS# 1069726
Type: Single Family
Neighborhood: ROCKWELL
Beds: 5 Beds
Baths: 0 Full / 0 Half
Living Area: 5,300 sq. ft.
Lot Size: 52,272 sq. ft.
Listed by: Dory Skemp Coldwell Banker Res. Brokerage
Office: 401-247-0202
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$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
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$127,977 Mortgage Calculator
24 THURBER ST
Pawtucket, RI / 02861
MLS# 1071402
Type: Single Family
Neighborhood: PINECREST DARLINGTON
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,020 sq. ft.
Lot Size: 5,000 sq. ft.
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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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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