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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
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$264,900 Mortgage Calculator
507 CLARKS ROW
Bristol, RI / 02809
MLS# 1070577
Type: Condo
Complex Name: NORTH FARM ON THE BAY
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,391 sq. ft.
Style Type: Town House
Listed by: Ray Simone Century 21 Topsail Realty
Office: 401-254-1900
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$169,900 Mortgage Calculator
97 TURNER ST
Warwick, RI / 02886
MLS# 1077600
Type: Single Family
Neighborhood: STRAWBERRY FIELD
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 912 sq. ft.
Lot Size: 8,681 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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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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$369,900 Mortgage Calculator
14 PROVIDENT PL
Coventry, RI / 02816
MLS# 1068468
Type: Single Family
Neighborhood: PHILLIPS HILL
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 3,004 sq. ft.
Lot Size: 40,511 sq. ft.
Listed by: Peter ALMONTE RE/MAX Metro
Office: 401-736-6100
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$289,900 Mortgage Calculator
14 WEST GLEN LANE
West Warwick, RI / 02893
MLS# 1074881
Type: Condo
Complex Name: COTTAGES AT WEST GLEN
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,525 sq. ft.
Style Type: One Level
Listed by: Brian Dupont Real Estate Masters, Inc.
Office: 401-738-1130
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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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$339,900 Mortgage Calculator
49 KEATS DR
North Kingstown, RI / 02852
MLS# 1078351
Type: Single Family
Neighborhood: NORTHBRIAR/QUIDNESSETT
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,690 sq. ft.
Lot Size: 30,640 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$209,900 Mortgage Calculator
31 BALDWIN RD
Warwick, RI / 02886
MLS# 1070340
Type: Single Family
Neighborhood: PILGRIM ESTATES
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 2,310 sq. ft.
Lot Size: 22,378 sq. ft.
Listed by: The Stone Alliance Coldwell Banker Res. Brokerage
Office: 401-739-9500
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$459,900 Mortgage Calculator
10 EASTWARD DR
Lincoln, RI / 02865
MLS# 1075164
Type: Single Family
Neighborhood: LIMEROCK
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,970 sq. ft.
Lot Size: 87,425 sq. ft.
Listed by: Joan Dion Reliable Realty Group LLC
Office: 401-723-3300
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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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