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$539,500 Mortgage Calculator
0 JULIANA DR
Cranston, RI / 02921
MLS# 1013983
Type: Single Family
Neighborhood: WESTERN
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,400 sq. ft.
Lot Size: 79,972 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$309,000 Mortgage Calculator
6 WARNER ST
Newport, RI / 02840
MLS# 1037996
Type: Single Family
Neighborhood: NEWPORT
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 993 sq. ft.
Lot Size: 3,050 sq. ft.
Listed by: Helen Flynn Flynn Real Estate
Office: 401-849-1774
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$399,000 Mortgage Calculator
377 CHARLESTOWN BEACH RD
Charlestown, RI / 02813
MLS# 1033427
Type: Single Family
Neighborhood: CHARLESTOWN BEACH
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 714 sq. ft.
Lot Size: 8,276 sq. ft.
Listed by: Cecile Cohen Randall Realtors Real Living
Office: 401-364-3388
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$444,900 Mortgage Calculator
33 WHEELER LANE
Hopkinton, RI / 02832
MLS# 1052503
Type: Condo
Complex Name: RESIDENCE@FENNER HILL
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 2,800 sq. ft.
Style Type: Town House
Listed by: Nancy SICILIANO Ocean Front Homes
Office: 401-212-6262
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$649,000 Mortgage Calculator
4 BROADVIEW DR
Barrington, RI / 02806
MLS# 1063092
Type: Single Family
Neighborhood: NAYATT - BRICKPOND
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,202 sq. ft.
Lot Size: 14,793 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$597,900 Mortgage Calculator
621 PENDAR RD
North Kingstown, RI / 02852
MLS# 1063920
Type: Single Family
Neighborhood: QUAIL HOLLOW
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 3,076 sq. ft.
Lot Size: 121,532 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$589,900 Mortgage Calculator
15 ASHLYNN WY
Rehoboth, MA / 02769
MLS# 1051376
Type: Single Family
Neighborhood: SOUTH WOODS
Beds: 5 Beds
Baths: 3 Full / 0 Half
Living Area: 3,191 sq. ft.
Lot Size: 60,436 sq. ft.
Listed by: Jimmy Andrade The Mello Group, Inc.
Office: 401-339-1506
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$349,900 Mortgage Calculator
12 NORTHWEST PASSAGE .
Barrington, RI / 02806
MLS# 1027891
Type: Single Family
Neighborhood: NORTHWEST PASSAGE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,482 sq. ft.
Lot Size: 12,000 sq. ft.
Listed by: Ray Simone Century 21 Topsail Realty
Office: 401-254-1900
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$259,711 Mortgage Calculator
149 DANIELSON PIKE
Foster, RI / 02825
MLS# 1046542
Type: Single Family
Neighborhood: FOSTER
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,428 sq. ft.
Lot Size: 301,435 sq. ft.
Listed by: Helen Coupe RE/MAX Metro
Office: 401-736-6100
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$529,300 Mortgage Calculator
12 DEER RUN
Scituate, RI / 02831
MLS# 1053706
Type: Single Family
Neighborhood: KNIGHT FARMS/SCIT. AVE
Beds: 4 Beds
Baths: 4 Full / 0 Half
Living Area: 3,969 sq. ft.
Lot Size: 40,872 sq. ft.
Listed by: Alayna Berek Adams Realty
Office: 401-295-7600
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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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