real estate

R.I. home sales on ‘path to recovery’

JUNE SAW CONTINUED improvement in single-family home sales across Rhode Island, according to the Rhode Island Association of Realtors. For a larger version of this chart, click HERE.
Posted 7/24/12

WARWICK – Rhode Island single-family home sales rose 17 percent in June compared with the same period last year, the 12th consecutive month of increased volume, the Rhode Island Association of Realtors said Tuesday.

The median sale price in June was $202,500, down 6 percent from the $215,000 median price in June 2011, but up 4 percent from May and 19 percent from the February nadir of $170,000.

There were 815 single-family homes sold in June compared with 699 sold last June.

With the increased sales volume, the inventory of houses on the market has dropped over the past year to 5,740 from 6,658 in June 2011.

There were 187 sales in June through foreclosure or short sale, but the percentage of all sales that were distressed declined to 23 percent from 25 percent last June.

“With the market coming back into balance thanks to increased sales, prices have climbed each month since February,” said Rhode Island Realtors Association President Jamie Moore. “Overall, we seem to be on a slow but steady path to recovery.”

In other areas of market, multi-family home sales rose 12 percent in June compared with the same period last year and the median multi-family price climbed 4 percent.

There were 99 multi-family homes sold in June, compared with 81 in June 2011. The median multi-family sales price in June was $124,500, up from $120,000 last June.

The percentage of multi-family sales that were distressed dropped to 41 percent in June from 46 percent last June.

Condominium sales in June were slow, dropping 5 percent year over year, and the median price sank 11 percent.

There were 122 condominiums sold in June, down from 129 last June. The median sales price was $177,600, down from $200,000 last June.

For the full report from the Realtor’s association, click HERE.

PBN Hosted

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News