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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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$149,900 Mortgage Calculator
51 GRAHAM AV
Warwick, RI / 02889
MLS# 1097945
Type: Single Family
Neighborhood: CONIMICUT
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 924 sq. ft.
Lot Size: 4,500 sq. ft.
Listed by: Mark Vieira Keller Williams Realty Leading
Office: 401-333-4900
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$339,900 Mortgage Calculator
42 TOM LEE DR
North Smithfield, RI / 02896
MLS# 1099774
Type: Single Family
Neighborhood: PRIMROSE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,037 sq. ft.
Lot Size: 40,002 sq. ft.
Listed by: Paul Donnelly RE/MAX Properties
Office: 401-232-3900
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$279,000 Mortgage Calculator
69 SPRING AV
Barrington, RI / 02806
MLS# 1090003
Type: Single Family
Neighborhood: BAY SPRING
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,056 sq. ft.
Lot Size: 6,450 sq. ft.
Listed by: Anna Clancy Residential Properties, Ltd.
Office: 401-245-9600
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$89,000 Mortgage Calculator
569 VICTORY HWY
West Greenwich, RI / 02817
MLS# 1085564
Type: Vacant Land
Neighborhood: VICTORY HIGHWAY RACOON HILLS
Lot Frontage: 214 ft.
Lot Size: 87,120 sq. ft.
Lot Type: Residential
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$519,500 Mortgage Calculator
30 S BULFINCH ST
North Attleboro, MA / 02760
MLS# 1100864 NEW
Type: Single Family
Neighborhood: WATERFRONT FALLS POND CHECK LOW TAX
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,500 sq. ft.
Lot Size: 12,682 sq. ft.
Listed by: Christy May Re/Max Real Estate Center
Office: 508-543-3922
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$248,900 Mortgage Calculator
110 RESERVOIR RD
Coventry, RI / 02816
MLS# 1098645
Type: Single Family
Neighborhood: WOOD ESTATES NORTH
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,890 sq. ft.
Lot Size: 14,810 sq. ft.
Listed by: Tyler Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$89,000 Mortgage Calculator
271 - J GREAT ISLAND RD
Narragansett, RI / 02882
MLS# 1093528
Type: Single Family
Neighborhood: GALILEE
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 525 sq. ft.
Lot Size: 0 sq. ft.
Listed by: Stacy Corrigan Peace of Mind Property Managem
Office: 401-829-8323
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$199,000 Mortgage Calculator
30 DEWEY AV
Tiverton, RI / 02878
MLS# 1095911
Type: Single Family
Neighborhood: TIVERTON
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,197 sq. ft.
Lot Size: 5,502 sq. ft.
Listed by: Welchman Grp Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$333,900 Mortgage Calculator
22 - 2 EXCALIBUR DR
Richmond, RI / 02892
MLS# 1086570
Type: Single Family
Neighborhood: CAMELOT ESTATES
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 1,904 sq. ft.
Lot Size: 52,972 sq. ft.
Listed by: George Daglieri RE/MAX FLAGSHIP, INC.
Office: 401-789-2255
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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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