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62 SPARTINA COVE WY
South Kingstown, RI / 02879
MLS# 1070136
Type: Single Family
Neighborhood: SALT POND
Beds: 4 Beds
Baths: 4 Full / 0 Half
Living Area: 3,600 sq. ft.
Lot Size: 42,689 sq. ft.
Listed by: Jon George Zen Real Estate Group
Office: 401-270-1251
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$209,000 Mortgage Calculator
22 CLARKE RD
Coventry, RI / 02816
MLS# 1064700
Type: Single Family
Neighborhood: SCIT LINE / BLACKROCK
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,476 sq. ft.
Lot Size: 60,984 sq. ft.
Listed by: Janet Flori AMERICAN DREAM REALTY
Office: 401-463-7800
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$173,900 Mortgage Calculator
671 METACOM AV
Bristol, RI / 02809
MLS# 1067040
Type: Condo
Complex Name: Courtyard at Metacom
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,106 sq. ft.
Style Type: One Level
Listed by: Joyce Kinsella East Bay Real Estate
Office: 401-253-2983
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$129,900 Mortgage Calculator
0 SEVEN MILE RD
Scituate, RI / 02831
MLS# 1053752
Type: Vacant Land
Neighborhood: SCITUATE/CRANSTON LINE
Lot Frontage: 170 ft.
Lot Size: 40,231 sq. ft.
Lot Type: Residential
Listed by: Brian Dupont Real Estate Masters, Inc.
Office: 401-738-1130
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$229,500 Mortgage Calculator
14 BROOKWOOD RD
Cranston, RI / 02910
MLS# 1072100
Type: Single Family
Neighborhood: FOREST HILLS
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,065 sq. ft.
Lot Size: 4,500 sq. ft.
Listed by: Jan Parrillo Parrillo Realty Group, LLC
Office: 401-228-6660
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$989,900 Mortgage Calculator
82 CEDAR ST
Rehoboth, MA / 02769
MLS# 1069744
Type: Single Family
Neighborhood: SOUTH REHOBOTH
Beds: 6 Beds
Baths: 4 Full / 2 Half
Living Area: 6,001 sq. ft.
Lot Size: 1,040,213 sq. ft.
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
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$469,000 Mortgage Calculator
30 LEDGEFIELD RD
Scituate, RI / 02857
MLS# 1065523
Type: Single Family
Neighborhood: NORTH SCITUATE
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 2,552 sq. ft.
Lot Size: 195,297 sq. ft.
Listed by: Tony Verdi COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$559,000 Mortgage Calculator
245 BEECHWOOD DR
Cranston, RI / 02921
MLS# 1026758
Type: Single Family
Neighborhood: RIDGEWOOD
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 3,684 sq. ft.
Lot Size: 80,000 sq. ft.
Listed by: Doug Jeffrey Signature Properties, Inc.
Office: 401-273-1900
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$524,900 Mortgage Calculator
284 LAUREL RIDGE LANE
North Kingstown, RI / 02852
MLS# 1070229
Type: Single Family
Neighborhood: MOUNTAIN LAUREL
Beds: 4 Beds
Baths: 5 Full / 0 Half
Living Area: 4,480 sq. ft.
Lot Size: 21,344 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$1,079,800 Mortgage Calculator
1 WESTFIELD DR
East Greenwich, RI / 02818
MLS# 1070843
Type: Single Family
Neighborhood: WESTWOOD FARMS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 6,248 sq. ft.
Lot Size: 84,506 sq. ft.
Listed by: Millie Pereira CENTURY 21 Crossroads
Office: 401-766-7545
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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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