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$142,400 Mortgage Calculator
89 WESTWOOD AV
Cranston, RI / 02905
MLS# 1069239
Type: Multi-Family
Neighborhood: EDGEWOOD
# of Units: 2
Total Beds: | Unit1(2), Unit2(2), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 1,961 sq. ft.
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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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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$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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$219,900 Mortgage Calculator
94 RADCLIFFE AV
Providence, RI / 02908
MLS# 1083764
Type: Single Family
Neighborhood: LASALLE NEIGHBORHOOD
Beds: 4 Beds
Baths: 1 Full / 1 Half
Living Area: 2,033 sq. ft.
Lot Size: 0 sq. ft.
Listed by: Clare Kearney RE/MAX Cityside
Office: 401-277-9700
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$444,900 Mortgage Calculator
559 VICTORY HWY
West Greenwich, RI / 02817
MLS# 1085576
Type: Single Family
Neighborhood: WEST GREENWICH
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,578 sq. ft.
Lot Size: 119,354 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$1,289,000 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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$189,000 Mortgage Calculator
511 CHILD ST
Warren, RI / 02885
MLS# 1088751
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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$117,000 Mortgage Calculator
103 APPLETON ST
Cranston, RI / 02910
MLS# 1064067
Type: Single Family
Neighborhood: STADIUM
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,300 sq. ft.
Lot Size: 3,200 sq. ft.
Listed by: Sylvia Santilli Gateway Realty
Office: 401-954-8997
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$1,295,000 Mortgage Calculator
20 W EXTENSION ST
Newport, RI / 02840
MLS# 1070282 BACK ON MKT
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 11,600 sq. ft.
Building Type: Commercial, Warehouse, Industrial, Food/Beverage, Hotel/Motel, Office, Retail, Mixed, Other
Listed by: Gordon King WILLIAM RAVEIS CHAPMAN ENSTONE
Office: 401-846-3800
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$99,900 Mortgage Calculator
43 BULLOCKS POINT AV
East Providence, RI / 02915
MLS# 1063480
Type: Condo
Complex Name: STONEGATE
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 942 sq. ft.
Style Type: One Level
Listed by: Joyce Motta East Bay Real Estate
Office: 401-253-2983
 
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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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