Find Real Estate Agents and Homes for Sale


Real Estate News --> Rhode Island News

Condo, home sales rise in January


Condominium sales in the Ocean State soared 60 percent in January, the Rhode Island Association of Realtors said Friday.


Archived Story

By PBN Staff Twitter: @ProvBusNews real estate R.Ireal estate sales continue to rise in December, 2012 (Feb1, 2013) REAL ESTATE R.Ihome sales soar 25% in 4Q (Jan23, 2013) real estate R.Ihome, condo sales and prices continue climb in November (Dec272012) WARWICK – Condominium sales in the Ocean State soared 60 percent in January, the Rhode Island Association of Realtors said Friday The median price of total condo sales rose 28 percent to $199,450 in January Excluding foreclosures and short sales, the median price of condos sold in January was $231,750 According to the Realtors’ release, the median price of condos has outpaced the median price of single-family homes for the last three months, “due in part to the fact that the condo market is less influenced by distressed sales.” Only 15 percent of condo sales in January were sold through short sale or foreclosure, a drop of 30 percent from a year agoThe state’s condo inventory has also fallen every month since January 2012, according to the release, a trend that is putting upward pressure on prices if( $(window).width() >= 1200 ){ var bust = Math.floor(89999999*Math.random()+10000000); var millis = new Date().getTime(); var referrer = encodeURIComponent(document.location); // ========== THIS SECTION IS STOP AUTOMATIC REFRESH ========== document.write(''); // ========== THIS SECTION IS TO INCLUDE AN AUTOMATIC REFRESH EVERY 60 SECONDS ========== // document.writeln('); // document.writeln('); // document.writeln('); // document.writeln('); // document.writeln('); } “The condo market has been red hot throughout the fall and winter, with both sales activity and median price experiencing double-digit growth,” Victoria Doran, president of the Rhode Island Association of Realtors, said in prepared remarks“We’ve seen strong sales and increased prices for six months now and January was off the charts.” The sales of single-family homes also increased, though not as dramatically as condo salesSales activity increased 4 percent year over year in January and the median price increased 1.3 percent to $175,000Excluding distressed sales, the median price of a single-family home in Rhode Island in January was $201,000 The percentage of single-family home short sales and foreclosures fell to 26 percent in the month, down from the 35 percent reported in January 2012The state’s supply of single-family homes also continued to tighten, falling 18 percent in January from the same month last year “January and February are typically slow months in real estate but our phones are ringing,” said Doran in a statement“The uptick in activity bodes well for the months aheadIt’s encouraging that sales are continuing to climb and that short sales and foreclosures are diminishing.” The state’s multi-family market showed a slowdown in activity in January, falling by 13 percentPending sales of multi-family homes rose 12 percent in January. The median price of all multi-family homes sold in the state in January rose 5 percent to $115,500Excluding distressed sales, the median sales price of multi-family homes sold in Rhode Island in January was $146,500 “Investors, recognizing a market bottom, helped usher the multi-family market into recovery early,” said the RIAR release“Multi-family sales began rising in September 2011 and continued to show an upward trend through most of last year The flurry of sales activity began to moderate toward the end of 2012 however, as the multi-family market began to stabilize.” The multi-family home market, which was once dominated by distressed sales, saw the number of distressed sales fall from 60 percent to 41 percent in January. Keywords condo, rhode island, condominium, january, rhode island association of realtors, r.iassociation of realtors Print Email Tweet lang: en_US (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.0"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk')); Comments No comments on this story | Please log in to comment by clicking here Please log in or register to add your comment #comment_add { display: none; } Related Stories real estate R.Ireal estate sales continue to rise in December, 2012 (Feb1, 2013) REAL ESTATE R.Ihome sales soar 25% in 4Q (Jan23, 2013) real estate R.Ihome, condo sales and prices continue climb in November (Dec272012) Popular Most Read 1Paolino reaches deal to buy Newport Grand 2Patriots win means Washington goods coming to R.I. 3Raimondo nominates six to I-195 Redevelopment Commission 4Storm causing delays, cancellations, messy commute 5Elizabeth Mill demolition begins Latest News Local America’s most loved and most hated companies: CVS makes top 20 for loved 16 minutes ago Providence Athenaeum names interim executive director 3 hours ago Raimondo nominates five to R.IBoard of Education 3 hours ago More Local News » function latestnewstab(item){ $('.latestnewstab').removeClass('latestnewstab_selected'); $('.latestnewstab_'+item).addClass('latestnewstab_selected'); $('.latestnewsknub').hide(); $('.latestnewsknub_'+item).show(); $('.latestnewscontent').hide(); $('.latestnewscontent_'+item).fadeIn('fast'); } latestnewstab('local'); Advanced Search » Advertisement if (document.avp_ready) { avp_zone({ base: 'adserver.pbn.com', type: 'banner', zid: 65, pid: 0 }); } Events PBN Hosted Calendar Join PBN for an important Summit on Obamacare's impact on Employers, Health Care Providers and Insurers Also, What's the Future of HealthSource RI - the state's health Insurance ExchangeFebruary 26th at the Crowne Plaza, 8-11 am.                                                Best Places to Work Enroll in the 10th Annual Best Places to Work Event and join an impressive group... Manufacturing Awards Applications are now being accepted for the 2nd Annual Manufacturing AwardsDea... CFO Awards PBN is now accepting applications for the 5th Annual CFO Awards ProgramNominat... Find out more about all PBN Events » FEB 5 CELEBRATE CAREGIVERS FEB 5 ENTER THE CHAMBER FEB 5 PLUGS AND WIRES View Full Calendar » function eventstab(in_item){ $('.eventstab').removeClass('eventstab_selected'); $('#eventstab_'+in_item).addClass('eventstab_selected'); $('.eventsknub').hide(); $('#eventsknub_'+in_item).show(); $('.eventscontent').hide(); $('#eventscontent_'+in_item).fadeIn('fast'); } eventstab('hosted'); Latest News Local America’s most loved and most hated companies: CVS makes top 20 for loved 16 minutes ago Providence Athenaeum names interim executive director 3 hours ago Raimondo nominates five to R.IBoard of Education 3 hours ago More Local News » function latestnewstab(item){ $('.latestnewstab').removeClass('latestnewstab_selected'); $('.latestnewstab_'+item).addClass('latestnewstab_selected'); $('.latestnewsknub').hide(); $('.latestnewsknub_'+item).show(); $('.latestnewscontent').hide(); $('.latestnewscontent_'+item).fadeIn('fast'); } latestnewstab('local'); Advertisement if (document.avp_ready) { avp_zone({ base: 'adserver.pbn.com', type: 'banner', zid: 66, pid: 0 }); } Current Issue Click hereto readthis week'sedition. Popular Most Read 1Paolino reaches deal to buy Newport Grand 2Patriots win means Washington goods coming to R.I. 3Raimondo nominates six to I-195 Redevelopment Commission 4Storm causing delays, cancellations, messy commute 5Elizabeth Mill demolition begins Media PBN Videos Sponsored Business Lunch: Shop Local Campaigns Business Lunch: RI Minimum Wage 2014 Corporate Citizen - Oliver Bennett 2014 Business Excellence Awards - City Year All PBN Videos » Sixcia’s Tips: Authentic cause-related marketing can support your brand Sixcia’s Tips: Connect your business to Latin American markets All Sponsored Videos » function videostab(in_item){ $('.videostab').removeClass('videostab_selected'); $('#videostab_'+in_item).addClass('videostab_selected'); $('.videosknub').hide(); $('#videosknub_'+in_item).show(); $('.videoscontent').hide(); $('#videoscontent_'+in_item).fadeIn('fast'); } videostab('hosted'); Lists Book of Lists Purchase Data 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. Purchase a printed copy of the Book of Lists Purchase an e-File of the entire Book of Lists database Update your data in the Book of Lists Purchase Data 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 Book of Lists Party » function boltab(in_item){ $('.boltab').removeClass('boltab_selected'); $('#boltab_'+in_item).addClass('boltab_selected'); $('.bolknub').hide(); $('#bolknub_'+in_item).show(); $('.bolcontent').hide(); $('#bolcontent_'+in_item).fadeIn('fast'); } boltab('purchase'); Advertisement if (document.avp_ready) { avp_zone({ base: 'adserver.pbn.com', type: 'banner', zid: 4, pid: 0 }); } Popular Most Read 1Paolino reaches deal to buy Newport Grand 2Patriots win means Washington goods coming to R.I. 3Raimondo nominates six to I-195 Redevelopment Commission 4Storm causing delays, cancellations, messy commute 5Elizabeth Mill demolition begins Press Releases » JUNIOR ACHIEVEMENT ANNOUNCES RECIPIENTS OF THE GAEBE PROFILE IN EXCELLENCE AWARD The award, JA’s highest honor, is named after Morris J.WGaebe, Chancellor Emeritus of Johnson & Wales University, and recognizes leaders who demonstrate excellence in the Rhode Island community. Hui Zeng, CPA, has been promoted to Accounting Supervisor at YKSM Tuesday, February 3 Rhode Island Primary Care Physicians Corporation and UnitedHealthcare Collaboration Monday, December 22, 2014 Adelita Orefice Joins Donoghue Barrett & Singal Monday, December 8, 2014 See More » | Post a Press Release » Weekly Poll How would you grade GovGina MRaimondo’s performance during Winter Storm Juno? A B C D F I can't decide Results » (88 votes) | Comment » function story_poll_d489_vote(){ if( document.story_poll_d489.ready_to_submit.value ){ document.story_poll_d489.submit(); } } Stay Connected E-News Signup Select Edition(s) Your Daily Edition Health Care & Life Sciences Update Banking & Financial Services Update Technology Update Nonprofit Update 10 Things To Do This Weekend! Morning Call More Details » function enews_click(item){ if( $('.enews_checkbox_'+item).is(':checked') ){ $('#option_'+item).addClass('option_alwayson'); }else{ $('#option_'+item).removeClass('option_alwayson'); } }   Economy Economic Activity Entrepreneurship Government Hot Topics Natural Resources Social Welfare   Industries Business Services Capital Goods Financial Services Health Services Hospitality & Tourism Technology   People Business Women Education Newsmakers PBN Award Winners Personnel Workplace   Commentary Advice Cartoons Editorials Five Questions With: Op-Ed / Letters to the Editor This Week's Poll   What's Happening PBN Events Calendar Providence Athenaeum names interim executive director: The Providence Athenaeum expects to hire a permanent ex.. 38 minutes ago

Trending Rhode Island News:


  • Letters: Rhode Island Tolls, Driver Shortage
  • ABC6’s “In the Arena” Talk the State House Shutdown
  • Downtown Silver Spring’s newest restaurant: Not Your Average Joe’s
  • Former Breck home sells for $7.6M
  • Jenna Deluca weds Ryan Podskoch
  • Panama Papers: ‘Secret’ deal for Little Havana pharmacy sparks lawsuit
  • Rhode Island firm says it'll spend $100M to redevelop Benny's locations
  • Records: Fall River's branding consultant helped write the RFP he won
  • Vermont man suspected by relatives of killing grandfather, mother could inherit more than $7 million
  • To keep farmers local, Rhode Island resells land at a discount
  • Rhode Island knife factory to be transformed into housing
  • RIDOT previews bridge, highway construction season
  • The 2017 Power List — Attorneys and the Judiciary
  • Take a Look at Taylor Swift's Impressive Real Estate Portfolio
  • Five Questions With: Ryan Antrop
  • Citrin Cooperman adds firm, expands into RI
  • Suspect's widow drawn into Boston bomb investigation
  • Rhode Island Meets Warren Buffett?
  • Value of commercial real estate sales grows 37%
  • 2016's most outrageous NYC design proposals, from an East River gondola to a revamped Penn Station