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$449,000 Mortgage Calculator
27 SOUTH ST
Barrington, RI / 02806
MLS# 1080652
Type: Single Family
Neighborhood: SOUTH STREET LANDING
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,010 sq. ft.
Lot Size: 8,857 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$564,974 Mortgage Calculator
0 JULIANA DR
Cranston, RI / 02921
MLS# 1083249
Type: Single Family
Neighborhood: WESTERN JOHN PRESCOTT FARMS
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,600 sq. ft.
Lot Size: 81,481 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$189,000 Mortgage Calculator
511 CHILD ST
Warren, RI / 02885
MLS# 1088751 NEW
Type: Condo
Complex Name: Kickemuit Klose
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,245 sq. ft.
Style Type: Town House
Listed by: George Saber RE/MAX River's Edge
Office: 401-245-2000
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$435,000 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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$160,000 Mortgage Calculator
0 PENDAR RD
North Kingstown, RI / 02852
MLS# 1065147
Type: Vacant Land
Neighborhood: WEST RT1/QUAIL HOLLOW
Lot Frontage: 430 ft.
Lot Size: 129,150 sq. ft.
Lot Type: Residential
Listed by: Jeanie Gorrie Residential Properties LTD.
Office: 401-885-8400
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$354,500 Mortgage Calculator
36 WILLIAMS CROSSING RD
Coventry, RI / 02827
MLS# 1068386
Type: Single Family
Neighborhood: GREENE
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 3,218 sq. ft.
Lot Size: 146,362 sq. ft.
Listed by: Raquel Storti Keller Williams Realty
Office: 401-785-1700
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$169,000 Mortgage Calculator
608 WOONASQUATUCKET AV
North Providence, RI / 02911
MLS# 1086567
Type: Multi-Family
Neighborhood: NORTH PROVIDENCE
# of Units: 2
Total Beds: | Unit1(3), Unit2(2), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 2,496 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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$2,850,000 Mortgage Calculator
294 RUMSTICK RD
Barrington, RI / 02806
MLS# 1082277
Type: Single Family
Neighborhood: RUMSTICK POINT
Beds: 5 Beds
Baths: 4 Full / 3 Half
Living Area: 9,012 sq. ft.
Lot Size: 71,250 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$214,900 Mortgage Calculator
13 BENOIT ST
Coventry, RI / 02816
MLS# 1081308
Type: Single Family
Neighborhood: ANTHONY
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,176 sq. ft.
Lot Size: 16,568 sq. ft.
Listed by: John Ruzzo Stone Ridge Realty
Office: 401-397-7900
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$264,900 Mortgage Calculator
110 RESERVOIR RD
Coventry, RI / 02816
MLS# 1085908
Type: Single Family
Neighborhood: WOOD ESTATES NORTH
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,890 sq. ft.
Lot Size: 14,810 sq. ft.
Listed by: Tyler Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
 
Liz Kettelle RE/MAX Central - Providing top notch real estate services to RI buyers and sellers.
Lincoln Abstract & Settlement Services - providing exceptional title, closing and escrow assistance. Click here for Stateline Insurance & Financial Services, Inc.
Click here for C21 offices throughout Rhode Island Click here for the Law Offices of George M. Cappello, LTD
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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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