Rhode Island Existing Single-Family Home Sales Statistics January through September

Wed, 07 Nov 2007 08:35:48 -0600

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%
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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.

Rhode Island Real Estate, The Market, “What Should We Do Now?”

Sun, 28 Oct 2007 06:19:40 -0500

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.

Rhode Island Real Estate Blog

Rhode Island Existing Single-Family Home Sales Statistics January through September

Rhode Island Real Estate, The Market, “What Should We Do Now?”