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41 WINDWARD WALK .
North Kingstown, RI / 02852
MLS# 1079423
Type: Single Family
Neighborhood: CEDARHURST/WICKFORD
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,276 sq. ft.
Lot Size: 24,829 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$844,000 Mortgage Calculator
1200 HOPE ST
Bristol, RI / 02809
MLS# 1069726
Type: Single Family
Neighborhood: ROCKWELL
Beds: 5 Beds
Baths: 0 Full / 0 Half
Living Area: 5,300 sq. ft.
Lot Size: 52,272 sq. ft.
Listed by: Dory Skemp Coldwell Banker Res. Brokerage
Office: 401-247-0202
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$394,900 Mortgage Calculator
1224 - 1232 GREENWICH AV
Warwick, RI / 02886
MLS# 1052795
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 3,835 sq. ft.
Building Type: Office
Listed by: Gayle Moone Real Estate Masters, Inc.
Office: 401-738-1130
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$254,000 Mortgage Calculator
5837 FLAT RIVER RD
Coventry, RI / 02816
MLS# 1064378
Type: Single Family
Neighborhood: WESTERN/GREENE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,874 sq. ft.
Lot Size: 130,100 sq. ft.
Listed by: Jan Parrillo Parrillo Realty Group, LLC
Office: 401-228-6660
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$379,900 Mortgage Calculator
877 HARTFORD AV
Johnston, RI / 02919
MLS# 1069491
Type: Single Family
Neighborhood: WINDSOR HILLS
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 4,257 sq. ft.
Lot Size: 27,197 sq. ft.
Listed by: Ronnie TOSONI RE/MAX Professionals
Office: 401-884-6050
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$424,900 Mortgage Calculator
2 SPYGLASS CIR
Hopkinton, RI / 02832
MLS# 1058152
Type: Condo
Complex Name: RESIDENCES@FENNER HILL
Beds: 2 Beds
Baths: 2 Full / 1 Half
Living Area: 2,800 sq. ft.
Style Type: Town House
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$239,900 Mortgage Calculator
105 SANDY LANE
Warwick, RI / 02889
MLS# 1079116
Type: Single Family
Neighborhood: SANDY LANE
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 2,100 sq. ft.
Lot Size: 17,558 sq. ft.
Listed by: Debbie Grimaldi RE/MAX 1st Choice
Office: 401-943-6111
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$459,000 Mortgage Calculator
32 HAMILTON FARM RD
North Kingstown, RI / 02852
MLS# 1059731
Type: Condo
Complex Name: HAMILTON FARM CONDOS
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,740 sq. ft.
Style Type: One Level, Other
Listed by: Donna Sabitoni Fieldstone Properties, Inc.
Office: 401-295-0300
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$965,000 Mortgage Calculator
2 CORR WY
East Greenwich, RI / 02818
MLS# 1073189
Type: Single Family
Neighborhood: WESTWOOD FARMS
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,355 sq. ft.
Lot Size: 100,624 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$449,900 Mortgage Calculator
5 KELLIE ANN CT
Seekonk, MA / 02771
MLS# 1061463
Type: Single Family
Neighborhood: ORCHARD ESTATES
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,320 sq. ft.
Lot Size: 15,193 sq. ft.
Listed by: Alyson Roslonek The Mello Group, Inc.
Office: 508-640-0505
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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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