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30 FOX RUN
East Greenwich, RI / 02818
MLS# 1070441
Type: Single Family
Neighborhood: SIGNAL RIDGE
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 3,097 sq. ft.
Lot Size: 45,302 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$219,900 Mortgage Calculator
235 NARRAGANSETT AV
South Kingstown, RI / 02879
MLS# 1072992
Type: Single Family
Neighborhood: NARRAGANSETT LINE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,656 sq. ft.
Lot Size: 20,038 sq. ft.
Listed by: Richard Madden Ocean Bay Realty
Office: 401-284-2100
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$199,900 Mortgage Calculator
0 SULLIVAN LANE
Bristol, RI / 02809
MLS# 1054973
Type: Vacant Land
Neighborhood: FERNCLIFF
Lot Frontage: 100 ft.
Lot Size: 25,333 sq. ft.
Lot Type: Residential
Listed by: Dory Skemp Coldwell Banker Res. Brokerage
Office: 401-247-0202
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$469,900 Mortgage Calculator
166 WHEELER AV
Cranston, RI / 02905
MLS# 1064863
Type: Single Family
Neighborhood: EDGEWOOD
Beds: 5 Beds
Baths: 2 Full / 0 Half
Living Area: 3,584 sq. ft.
Lot Size: 13,360 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$269,000 Mortgage Calculator
42 HIGH ST
Bristol, RI / 02809
MLS# 1058216
Type: Condo
Complex Name: CODMAN PLACE
Beds: 1 Beds
Baths: 1 Full / 1 Half
Living Area: 1,080 sq. ft.
Style Type: Town House
Listed by: Debra Jobin RE/MAX River's Edge - Bristol
Office: 401-254-1776
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$89,900 Mortgage Calculator
38 HAROLD ST
Providence, RI / 02908
MLS# 1073605
Type: Multi-Family
Neighborhood: OFF VALLEY STREET
# of Units: 2
Total Beds: | Unit1(1), Unit2(2), Beds
Total Baths: 2 | Unit1(1), Unit2(1), Full
Building Area: 1,265 sq. ft.
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$124,900 Mortgage Calculator
3399 POST RD
Warwick, RI / 02886
MLS# 1067411
Type: Condo
Complex Name: Village Green Apponaug
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 992 sq. ft.
Style Type: Town House
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
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$255,000 Mortgage Calculator
280 WILLISTON WY
Pawtucket, RI / 02861
MLS# 1063395
Type: Single Family
Neighborhood: DARLINGTON
Beds: 4 Beds
Baths: 2 Full / 0 Half
Living Area: 1,999 sq. ft.
Lot Size: 6,900 sq. ft.
Listed by: Jan Parrillo Parrillo Realty Group, LLC
Office: 401-228-6660
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$258,900 Mortgage Calculator
7 HONEY LOCUST CT
Coventry, RI / 02816
MLS# 1071628
Type: Single Family
Neighborhood: RED OAK ESTATES
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,308 sq. ft.
Lot Size: 14,000 sq. ft.
Listed by: Frank ANTONETTI Real Estate Masters, Inc.
Office: 401-738-1130
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$340,000 Mortgage Calculator
78 WARNER AV
Portsmouth, RI / 02872
MLS# 1065159
Type: Single Family
Neighborhood: PRUDENCE ISLAND
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,613 sq. ft.
Lot Size: 7,500 sq. ft.
Listed by: Elizabeth Rene William Raveis Chapman Enstone
Office: 401-396-9849
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Stateline Insurance & Financial Services - Auto, Homeowners, Business, and Financial Services For East Providence and All of Rhode Island
Click here to lock in a low fixed-rate mortgage with Residential Mortgage Services. Lila Delman - Serving buyers and sellers of fine properties since 1964.
Click here for Priority Builders Home Inspection High Rocks Condominiums - A Distinct Community with Character and History
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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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