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$385,000 Mortgage Calculator
140 PINE GLEN DR
East Greenwich, RI / 02818
MLS# 1117552
Type: Condo
Complex Name: PINE GLEN
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 2,000 sq. ft.
Style Type: Town House
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$845,000 Mortgage Calculator
4 WILLOW WY
Barrington, RI / 02806
MLS# 1123905 NEW
Type: Single Family
Neighborhood: WATERFRONT - ALFRED DROWNE
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 1,705 sq. ft.
Lot Size: 7,400 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$339,000 Mortgage Calculator
35 FORBES ST
Providence, RI / 02908
MLS# 1119767
Type: Single Family
Neighborhood: ELMHURST
Beds: 3 Beds
Baths: 2 Full / 2 Half
Living Area: 2,544 sq. ft.
Lot Size: 4,791 sq. ft.
Listed by: Deb Hackett RE/MAX Town & Country
Office: 401-333-0020
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$399,900 Mortgage Calculator
45 HIGHVIEW AV
Warren, RI / 02885
MLS# 1116637
Type: Single Family
Neighborhood: HIGHVIEW AVENUE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,621 sq. ft.
Lot Size: 10,045 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 508-640-0505
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$499,900 Mortgage Calculator
15 FIRETHORN LANE
Cranston, RI / 02920
MLS# 1121316 BACK ON MKT
Type: Single Family
Neighborhood: DEAN ESTATES
Beds: 5 Beds
Baths: 4 Full / 0 Half
Living Area: 5,140 sq. ft.
Lot Size: 13,056 sq. ft.
Listed by: Linda Drainville Coldwell Banker Res. Brokerage
Office: 401-739-9500
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$899,000 Mortgage Calculator
90 - B OLD MAIN RD
Little Compton, RI / 02837
MLS# 1048936
Type: Single Family
Neighborhood: WINDMILL HILL
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,072 sq. ft.
Lot Size: 178,595 sq. ft.
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$348,900 Mortgage Calculator
163 ALLEGRA LANE
North Kingstown, RI / 02852
MLS# 1119636
Type: Condo
Complex Name: SLOCUM HEIGHTS
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,600 sq. ft.
Style Type: One Level
Listed by: Bob Medeiros Watermark Realty, LLC
Office: 401-921-5300
$895,000 Mortgage Calculator
130 GRANITE DR
East Greenwich, RI / 02818
MLS# 1083514
Type: Single Family
Neighborhood: STONE RIDGE
Beds: 4 Beds
Baths: 4 Full / 1 Half
Living Area: 3,680 sq. ft.
Lot Size: 45,237 sq. ft.
Listed by: Sophia Karvunis PHIPPS REALTY
Office: 401-884-1030
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$425,000 Mortgage Calculator
0 NANAQUAKET RD
Tiverton, RI / 02878
MLS# 1039145
Type: Vacant Land
Neighborhood: WATERFRONT NANAQUAKET
Lot Frontage: 640 ft.
Lot Size: 208,827 sq. ft.
Lot Type: Residential
Listed by: Marisa Ferris RESIDENTIAL PROPERTIES LTD.
Office: 401-783-2474
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$229,900 Mortgage Calculator
222 VAN BUREN ST
Warwick, RI / 02888
MLS# 1122784
Type: Single Family
Neighborhood: LAKEWOOD/GASPEE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,065 sq. ft.
Lot Size: 6,970 sq. ft.
Listed by: Arnold Baskin Keller Williams Realty Leading
Office: 401-333-4900
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News Detail

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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."