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$189,900 Mortgage Calculator
101 GOVERNORS HILL
West Warwick, RI / 02893
MLS# 1072425
Type: Condo
Complex Name: GOVERNORS HILL
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 2,196 sq. ft.
Style Type: Town House
Listed by: Norman TOBIN Real Estate Masters, Inc.
Office: 401-738-1130
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$379,900 Mortgage Calculator
877 HARTFORD AV
Johnston, RI / 02919
MLS# 1069491
Type: Single Family
Neighborhood: WINDSOR HILLS
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 4,257 sq. ft.
Lot Size: 27,197 sq. ft.
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
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$144,900 Mortgage Calculator
89 WESTWOOD AV
Cranston, RI / 02905
MLS# 1069239
Type: Multi-Family
Neighborhood: EDGEWOOD
# of Units: 2
Total Beds: | Unit1(2), Unit2(2), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 1,961 sq. ft.
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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$465,900 Mortgage Calculator
223 PINE ORCHARD RD
Glocester, RI / 02814
MLS# 1074904
Type: Single Family
Neighborhood: CHEPACHET
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 4,635 sq. ft.
Lot Size: 435,600 sq. ft.
Listed by: Joy Riley Westcott Properties
Office: 401-421-5300
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$257,000 Mortgage Calculator
25 PRIMROSE LANE
Johnston, RI / 02919
MLS# 1070979
Type: Single Family
Neighborhood: JOHNSTON
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 1,877 sq. ft.
Lot Size: 20,000 sq. ft.
Listed by: Mary Iacono COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$685,000 Mortgage Calculator
96 FORD FARM RD
Tiverton, RI / 02878
MLS# 1074558
Type: Single Family
Neighborhood: MT HOPE ESTATES
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 3,672 sq. ft.
Lot Size: 15,037 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$799,995 Mortgage Calculator
636 PENDLETON HILL RD
No Stonington, CT / 06359
MLS# 1069346
Type: Single Family
Neighborhood: RURAL
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 3,077 sq. ft.
Lot Size: 562,360 sq. ft.
Listed by: Liz Viering Stonington Real Estate Company
Office: 860-535-4047
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$159,900 Mortgage Calculator
141 TEAKWOOD DR
Warwick, RI / 02886
MLS# 1081820 NEW
Type: Single Family
Neighborhood: GREENWOOD
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 780 sq. ft.
Lot Size: 12,000 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$5,500,000 Mortgage Calculator
26 LEES WHARF ST
Newport, RI / 02840
MLS# 1071301
Type: Condo
Complex Name: Newport Harbor Marina
Beds: 0 Beds
Baths: 0 Full / 0 Half
Living Area: 0 sq. ft.
Style Type: Slip
Listed by: Gordon King WILLIAM RAVEIS CHAPMAN ENSTONE
Office: 401-846-3800
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$585,000 Mortgage Calculator
3 RIVER MEADOW DR
Hopkinton, RI / 02832
MLS# 1072340
Type: Single Family
Neighborhood: HOPE VALLEY
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,721 sq. ft.
Lot Size: 139,392 sq. ft.
Listed by: Bryant Da Cruz Keller Williams Realty
Office: 401-785-1700
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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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