AREA 07 Sales 06 Sales Unit change % CHANGE 2007 Median 2006 Median % CHANGE RHODE ISLAND 6,034 6,362 -328 -5.16% $276,000 $285,000 -3.2% . . . . . . . NEWPORT COUNTY . . . . . . TIVERTON 89 94 -5 -5.32% $312,000 $316,250 -1.3% LITTLE COMPTON 21 16 5 31.25% $570,000 $930,000 -38.7% PORTSMOUTH 133 132 1 0.76% $375,000 $421,000 -10.9% MIDDLETOWN 91 81 10 12.35% $355,000 $390,000 -9.0% NEWPORT 139 125 14 11.20% $460,000 $438,000 5.0% JAMESTOWN 53 48 5 10.42% $739,000 $656,250 12.6% . . . . . . . METRO & EAST BAY . . . . . . BARRINGTON 170 169 1 0.59% $447,000 $423,000 5.7% WARREN 55 58 -3 -5.17% $280,000 $315,000 -11.1% BRISTOL 126 120 6 5.00% $320,000 $360,000 -11.1% EAST PROVIDENCE 241 277 -36 -13.00% $239,800 $255,000 -6.0% PROVIDENCE 347 425 -78 -18.35% $201,000 $212,000 -5.2% EAST SIDE 141 139 2 1.44% $465,000 $500,000 -7.0% NORTH PROVIDENCE 169 188 -19 -10.11% $246,900 $259,000 -4.7% JOHNSTON 169 174 -5 -2.87% $255,000 $270,250 -5.6% CRANSTON 503 576 -73 -12.67% $250,000 $263,000 -4.9% . . . . . . . NORTH . . . . . . LINCOLN 120 121 -1 -0.83% $330,750 $336,000 -1.6% CUMBERLAND 243 273 -30 -10.99% $291,000 $306,000 -4.9% WOONSOCKET 127 116 11 9.48% $225,000 $248,000 -9.3% PAWTUCKET 242 311 -69 -22.19% $220,500 $235,000 -6.2% CENTRAL FALLS 9 17 -8 -47.06% $192,000 $197,400 -2.7% NORTH SMITHFIELD 71 71 0 0.00% $312,450 $305,000 2.4% SMITHFIELD 91 99 -8 -8.08% $285,000 $332,000 -14.2% BURRILLVILLE 97 110 -13 -11.82% $255,000 $274,500 -7.1% GLOCESTER 74 78 -4 -5.13% $277,250 $299,000 -7.3% FOSTER 30 31 -1 -3.23% $345,000 $356,000 -3.1% SCITUATE 45 55 -10 -18.18% $320,000 $335,000 -4.5% . . . . . . . SOUTH COUNTY . . . . . . EXETER 45 34 11 32.35% $310,000 $400,000 -22.5% HOPKINTON 60 82 -22 -26.83% $307,500 $286,000 7.5% RICHMOND 68 52 16 30.77% $270,500 $318,500 -15.1% CHARLESTOWN 104 81 23 28.40% $397,500 $392,500 1.3% WESTERLY 153 174 -21 -12.07% $347,000 $312,000 11.2% NEW SHOREHAM 2 0 2 - $1,250,550 - - SOUTH KINGSTOWN 245 209 36 17.22% $355,000 $365,000 -2.7% NARRAGANSETT 158 126 32 25.40% $388,250 $452,500 -14.2% NORTH KINGSTOWN 191 212 -21 -9.91% $380,000 $392,000 -3.1% . . . . . . . KENT COUNTY . . . . . . EAST GREENWICH 160 121 39 32.23% $513,444 $540,000 -4.9% WEST WARWICK 149 192 -43 -22.40% $230,000 $239,900 -4.1% WARWICK 742 802 -60 -7.48% $230,000 $245,000 -6.1% COVENTRY 318 333 -15 -4.50% $255,000 $263,000 -3.0% WEST GREENWICH 43 40 3 7.50% $372,000 $392,400 -5.2% Provided as a consumer service by Larry Morse, The Larry Morse Group, Keller Williams Realty.  This information is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. These properties may have been sold by other real estate companies. Data maintained by the MLS may not reflect all real estate activity in the market. Data is based on information from State-Wide Multiple Listing Service, Inc. for the period of January 1, 2007 through September 30, 2007.

Almost daily I am asked by clients and prospective clients what the future Real Estate Market in Rhode Island will look like, four months from now, one year from now and as far out as three years from now. More importantly they often ask, "What should we do now?". Whether I am asked this question by a Seller or a Buyer the reason for the question is typically the same, the question is brought on by a fear of the current real estate market. Today most Sellers' fear that the price of their home may continue to drop; they are unsure whether they should put their house on the market now or wait for a turnaround. On the other side, Buyers' fear that the price of the home they want to purchase may continue to fall, they are unsure whether they should buy now or wait for a larger drop in the market. History reminds us that all markets are cyclical and that there is a positive side to every market, regardless of which side of the fence we happen to find ourselves on. To the Sellers who are looking to relocate or downsize in the current market the positive side for them is that they become Buyers. Although they might sell their home at a reduced price it is very likely that they can expect to buy at a reduced price in the area that they are moving to. To First Time or other Buyers who are concerned that prices will continue to fall, history reminds us that this will stop. The upside is that prices will once again begin to climb. One thing we can count on is that the market will change once again and when it does Sellers and Buyers alike will ask again, "What should we do now?". Sellers will want to know if the time is right to put their homes on the Market and Buyers will want to know once again whether they should wait to make an offer. Regardless of the market the time to act will always depend largely on each individual's unique situation. Luckily for us all, whether it is this market or the next, Sellers will sell and Buyers will buy, after all that is what makes the market. Some things never change.