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$549,000 Mortgage Calculator
Little Compton, RI / 02837
MLS# 1093754
Type: Single Family
Neighborhood: WEST MAIN ROAD
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,038 sq. ft.
Lot Size: 23,000 sq. ft.
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$539,000 Mortgage Calculator
Middletown, RI / 02842
MLS# 1098132
Type: Single Family
Neighborhood: PARADISE AVE
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 2,862 sq. ft.
Lot Size: 15,246 sq. ft.
Listed by: Michelle Blake RE/MAX Profnl. Newport, Inc.
Office: 401-849-0100
$174,200 Mortgage Calculator
Woonsocket, RI / 02895
MLS# 1027781
Type: Vacant Land
Neighborhood: BERNON
Lot Frontage: 40 ft.
Lot Size: 400,752 sq. ft.
Lot Type: Residential
Listed by: Stacy Corrigan Peace of Mind Property Managem
Office: 401-829-8323
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$599,999 Mortgage Calculator
North Kingstown, RI / 02874
MLS# 1093608
Type: Single Family
Neighborhood: HOLLY HILLS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,430 sq. ft.
Lot Size: 197,762 sq. ft.
Listed by: Rhonda De La Cerda Randall Realtors Real Living
Office: 401-294-4000
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$229,711 Mortgage Calculator
Warwick, RI / 02886
MLS# 1095804
Type: Single Family
Neighborhood: APPONAUG COVE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,560 sq. ft.
Lot Size: 7,989 sq. ft.
Listed by: Helen Coupe RE/MAX Metro
Office: 401-736-6100
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$798,000 Mortgage Calculator
Cranston, RI / 02905
MLS# 1093600
Type: Condo
Complex Name: Sefton Heights
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 2,649 sq. ft.
Style Type: Town House
Office: 401-884-8050
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$1,425,000 Mortgage Calculator
East Side of Prov, RI / 02906
MLS# 1094549
Type: Single Family
Neighborhood: UPPER FREEMAN
Beds: 4 Beds
Baths: 3 Full / 2 Half
Living Area: 5,215 sq. ft.
Lot Size: 15,246 sq. ft.
Listed by: Benjamin Scungio Lila Delman Real Estate
Office: 401-274-1644
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$440,000 Mortgage Calculator
Little Compton, RI / 02837
MLS# 1086226
Type: Single Family
Neighborhood: WILLOW FARM
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,886 sq. ft.
Lot Size: 169,013 sq. ft.
Listed by: Shelley Bowen Spinnaker Real Estators
Office: 401-635-2300
$332,900 Mortgage Calculator
Barrington, RI / 02806
MLS# 1100731
Type: Single Family
Neighborhood: PRIMROSE HILL
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,628 sq. ft.
Lot Size: 6,200 sq. ft.
Listed by: Anna Clancy Residential Properties, Ltd.
Office: 401-245-9600
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$649,900 Mortgage Calculator
Rehoboth, MA / 02769
MLS# 1087694
Type: Single Family
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 2,800 sq. ft.
Lot Size: 60,000 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 508-640-0505
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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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