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456 POPPASQUASH RD
Bristol, RI / 02809
MLS# 1090334
Type: Single Family
Neighborhood: POPPASQUASH POINT
Beds: 4 Beds
Baths: 4 Full / 1 Half
Living Area: 5,581 sq. ft.
Lot Size: 148,104 sq. ft.
Listed by: Patricia Mascali Mansions & Manors
Office: 401-423-7000
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$599,999 Mortgage Calculator
50 WILDWOOD CT
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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$398,500 Mortgage Calculator
35 MOHAWK DR
Portsmouth, RI / 02871
MLS# 1073456
Type: Single Family
Neighborhood: OFF INDIAN AVENUE
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 3,515 sq. ft.
Lot Size: 19,745 sq. ft.
Listed by: Nancy Crockett Crockett Realty, Inc.
Office: 401-741-5920
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$439,000 Mortgage Calculator
271 LOVE LANE
Warwick, RI / 02886
MLS# 1096167 NEW
Type: Single Family
Neighborhood: COWESETT
Beds: 5 Beds
Baths: 3 Full / 1 Half
Living Area: 2,952 sq. ft.
Lot Size: 15,172 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$275,000 Mortgage Calculator
221 JOHN DYER RD
Little Compton, RI / 02837
MLS# 1087427
Type: Single Family
Neighborhood: JOHN DYER/ADAMSVILLE
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 835 sq. ft.
Lot Size: 170,320 sq. ft.
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$329,900 Mortgage Calculator
161 WINCHESTER DR
South Kingstown, RI / 02879
MLS# 1068733
Type: Single Family
Neighborhood: WINCHESTER DR./POND ST
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,408 sq. ft.
Lot Size: 10,019 sq. ft.
Listed by: Jason Saphire www.EntryOnly.com
Office: 877-249-5478
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$225,000 Mortgage Calculator
171 CHESTNUT ST
Providence, RI / 02903
MLS# 1095820 NEW
Type: Business
Neighborhood: JEWELRY DISTRICT
Total Sq Ft: 4,620 sq. ft.
Business Type: Other
Year Est: 2001
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$64,900 Mortgage Calculator
0 BUENA VISTA DR
Johnston, RI / 02920
MLS# 1073708
Type: Vacant Land
Neighborhood: ATWOOD
Lot Frontage: 0 ft.
Lot Size: 0 sq. ft.
Lot Type: Residential
Listed by: Bob Medeiros Watermark Realty, LLC
Office: 401-921-5300
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$149,000 Mortgage Calculator
227 VERMONT AV
Providence, RI / 02905
MLS# 1096037 NEW
Type: Single Family
Neighborhood: WASHINGTON PARK
Beds: 4 Beds
Baths: 1 Full / 1 Half
Living Area: 1,331 sq. ft.
Lot Size: 3,049 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$799,000 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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Strong Gains in Housing Market in October


Friday, November 30, 2012

Both the number of single family home sales and median price rose in October, according to statistics released today by the Rhode Island Association of Realtors. Though sales activity has been increasing year over year for 16 months, October was the first month that showed evidence of an increase in median price since May, 2011. Single family home sales increased 24 percent last month and the median sales price of single family home sales in October was $200,000, ten percent higher than the median price of sales in October, 2011.

"Sales activity has been increasing for such a long time that prices were bound to go up eventually.  As the supply of excess housing inventory depletes, prices will adjust accordingly. It's all about supply and demand. Diminishing foreclosure sales is also helping to boost median price," said Victoria Doran, 2013 President of the Rhode Island Association of Realtors.  RIAR reported that the number of single family homes for sale fell 18 percent in October, resulting in a seven-month supply of single family homes for sale. A six-month supply is considered to be a balanced market between sellers and buyers.

Foreclosure activity is also adjusting downward with just 21 percent of total single family home sales being sold through short sale or foreclosure last month, compared to 25 percent a year ago. The median price of sales selling through conventional means was $220,500.

The condominium market also fared particularly well last month, with sales rising 37 percent and median price increasing 21 percent to $170,000. The percentage of distressed sales fell to 19 percent from 22 percent last year and the median price of non-distressed sales only was $205,000. The number of condos available for sale fell 16 percent from a year ago. There was a nine-month supply of condominiums for sale at the end of October.

Multi-family properties rose significantly as well, rising 15 percent from the year prior. Median price increased 20 percent to $120,400.  Short sales and foreclosures accounted for 45 percent of total sales (compared to 46 percent in October, 2011), and the median price of conventional sales only was $149,500. There has been a 26 percent decrease in multi-family properties for sale in the past year which has led to six-month supply of inventory for sale.

"The market has been gaining strength gradually for some time now but it's been a while since we've seen such strong indicators of recovery in every area," said Doran.  "As we move toward the New Year, interest rates are still extremely low, prices are reasonable and the housing market seems to be on the right track. It's critically important that Congress not derail this positive momentum with changes to the mortgage interest deduction or capital gains exclusion."

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