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222 POST RD
Westerly, RI / 02891
MLS# 1075122
Type: Condo
Complex Name: SPINNAKER LANDING
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 1,527 sq. ft.
Style Type: Town House
Listed by: Julie Grundy Coastview Realty, Llc
Office: 401-788-0078
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$249,900 Mortgage Calculator
41 FRANCIS AV
Pawtucket, RI / 02860
MLS# 1092142
Type: Single Family
Neighborhood: FAIRLAWN
Beds: 4 Beds
Baths: 1 Full / 2 Half
Living Area: 1,880 sq. ft.
Lot Size: 19,739 sq. ft.
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
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$499,999 Mortgage Calculator
39 CHERRY LANE
Tiverton, RI / 02878
MLS# 1090780
Type: Single Family
Neighborhood: CHERRY HILL
Beds: 4 Beds
Baths: 4 Full / 0 Half
Living Area: 5,920 sq. ft.
Lot Size: 31,611 sq. ft.
Listed by: Inessa Moshkina Badger Realty
Office: 401-495-4756
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$239,900 Mortgage Calculator
43 MANOR RD
Cranston, RI / 02920
MLS# 1091738
Type: Single Family
Neighborhood: WESTERN
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 2,216 sq. ft.
Lot Size: 9,000 sq. ft.
Listed by: Maryann Papa Signature Properties, Inc.
Office: 401-273-1900
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$4,918,000 Mortgage Calculator
26 LEES WHARF ST
Newport, RI / 02840
MLS# 1071301
Type: Condo
Complex Name: Newport Harbor Marina
Beds: 0 Beds
Baths: 0 Full / 0 Half
Living Area: 0 sq. ft.
Style Type: Slip
Listed by: Gordon King WILLIAM RAVEIS CHAPMAN ENSTONE
Office: 401-846-3800
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$798,000 Mortgage Calculator
1 SEFTON DR
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
Listed by: Steven Miller COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$399,900 Mortgage Calculator
661 SHIPPEETOWN RD
East Greenwich, RI / 02818
MLS# 1094172 NEW
Type: Single Family
Neighborhood: EAST GREENWICH HEIGHTS AREA
Beds: 4 Beds
Baths: 1 Full / 1 Half
Living Area: 2,602 sq. ft.
Lot Size: 44,431 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$459,000 Mortgage Calculator
251 WIDOW SWEETS RD
Exeter, RI / 02822
MLS# 1091603
Type: Single Family
Neighborhood: WIDOW SWEETS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,013 sq. ft.
Lot Size: 139,392 sq. ft.
Listed by: Dan Ferrara RE/MAX 1st Choice
Office: 401-943-6111
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$1,199,000 Mortgage Calculator
337 RUMSTICK RD
Barrington, RI / 02806
MLS# 1088962
Type: Single Family
Neighborhood: RUMSTICK POINT
Beds: 4 Beds
Baths: 4 Full / 2 Half
Living Area: 5,355 sq. ft.
Lot Size: 40,128 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$399,900 Mortgage Calculator
66 ROLLINGWOOD DR
Johnston, RI / 02919
MLS# 1093126
Type: Single Family
Neighborhood: WESTBOUND ESTATES
Beds: 3 Beds
Baths: 2 Full / 2 Half
Living Area: 2,724 sq. ft.
Lot Size: 42,253 sq. ft.
Listed by: Amanda Hannon Williams & Stuart Real Estate
Office: 401-942-0200
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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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