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245 BEECHWOOD DR
Cranston, RI / 02921
MLS# 1026758
Type: Single Family
Neighborhood: RIDGEWOOD
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 3,684 sq. ft.
Lot Size: 80,000 sq. ft.
Listed by: Doug Jeffrey Signature Properties, Inc.
Office: 401-273-1900
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$324,888 Mortgage Calculator
30 BRISAS CIR
East Greenwich, RI / 02818
MLS# 1072395
Type: Single Family
Neighborhood: LAS BRISAS
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,316 sq. ft.
Lot Size: 41,665 sq. ft.
Listed by: Ed Magilton RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
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$199,000 Mortgage Calculator
5 WAKE ROBIN RD
Lincoln, RI / 02865
MLS# 1066716
Type: Condo
Complex Name: Preserve at Wake Robin
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,333 sq. ft.
Style Type: Town House
Listed by: Millie Pereira CENTURY 21 Crossroads
Office: 401-766-7545
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$138,900 Mortgage Calculator
35 NORFOLK ST
Cranston, RI / 02910
MLS# 1067713
Type: Single Family
Neighborhood: AUBURN
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,044 sq. ft.
Lot Size: 4,000 sq. ft.
Listed by: Wayne Farina State Properties, Inc.
Office: 401-824-4561
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$419,900 Mortgage Calculator
30 - 44 EAST AV
Pawtucket, RI / 02860
MLS# 1060574
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 26,154 sq. ft.
Building Type: Commercial, Mixed, Other
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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$495,000 Mortgage Calculator
1400 HOPE ST
Bristol, RI / 02809
MLS# 1070046
Type: Single Family
Neighborhood: WEST SIDE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,860 sq. ft.
Lot Size: 46,200 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$134,900 Mortgage Calculator
113 PUTNAM ST
Providence, RI / 02909
MLS# 1061255
Type: Multi-Family
Neighborhood: MT PLEASANT, ATWELLS
# of Units: 3
Total Beds: | Unit1(3), Unit2(2), Unit3(2), Beds
Total Baths: 3 | Unit1(1), Unit2(1), Unit3(1), Full
Building Area: 3,895 sq. ft.
Listed by: Sylvia Santilli Gateway Realty
Office: 401-954-8997
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$240,000 Mortgage Calculator
139 FOSTER ST
Burrillville, RI / 02830
MLS# 1072094
Type: Single Family
Neighborhood: HARRISVILLE
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,814 sq. ft.
Lot Size: 13,743 sq. ft.
Listed by: Michelle Keach RE/MAX 1st Choice
Office: 401-943-6111
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$1,750,000 Mortgage Calculator
47 POJAC POINT RD
North Kingstown, RI / 02852
MLS# 1066401
Type: Single Family
Neighborhood: POJAC POINT/PRIVATE
Beds: 4 Beds
Baths: 3 Full / 0 Half
Living Area: 3,619 sq. ft.
Lot Size: 275,735 sq. ft.
Listed by: Rothmeyer Russo Associates RESIDENTIAL PROPERTIES LTD.
Office: 401-783-2474
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$439,000 Mortgage Calculator
41 CARAWAY DR
Cranston, RI / 02921
MLS# 1072883
Type: Single Family
Neighborhood: ALPINE ESTATES
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,982 sq. ft.
Lot Size: 20,000 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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Liz Kettelle RE/MAX Central - Providing top notch real estate services to RI buyers and sellers.
Click here for the Law Offices of George M. Cappello, LTD Gentry Moving & Office Installation is a family owned and operated business with over 42 years of collective moving experience.
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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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