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Market Report Second Quarter - 2013 Executive Summary

The housing market continues to grow in Rhode Island and across the United States. Across the state, specifically in Providence, Bristol, Newport and Kent counties, inventory is declining while pending sales (commitments to purchase a home at a specified price and terms, typically closing within 60 to 90 days) are up compared to the same period last year. This increased demand for housing has shortened the time it takes for a property to sell. At a statewide level, and in the majority of individual counties, Rhode Island is experiencing a decline in the average days on market (DOM) for a new listing. The most dramatic declines for DOM occurred in Bristol in Providence counties, compared to Q2 2012. Additionally, the median sales price has increased statewide, with an increase of 10% over Q2 2012. Newport and Kent counties experienced the most dramatic rise in median price with 23% and 13% increases respectively over the same time period last year. In the luxury market, properties priced at $1,000,000 or higher, the median sales price has increased statewide, with an increase of 12% over Q2 2012. However, this improvement has been buffered by a 17% increase in available properties statewide, accompanied by a 19% decline in pending sales for the same time period.


Rhode Island Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

% CHANGE

796

727

9% 4%

HOMES SOLD

2,457

2,129

AVERAGE SALE PRICE

$270,417

$252,412

7%

$318,958

$305,338

MEDIAN SALE PRICE

$209,500

$191,000

10%

$253,900

$232,900

9%

-8%

114

124

-8%

94.2%

92.6%

2%

AVERAGE DOM

97

106

% SALE TO LIST PRICE

94.9%

92.9%

15%

2%

SUPPLY/DEMAND SNAPSHOT Q2 2012

SUPPLY

DEMAND

PRICE RANGE

Active Listings

Pending Listings

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

10,963 6,903 1,773 779 722 413 101 21,654

1,485 722 129 49 34 12 5 2,436

Q2 2013

RATIO* 7 10 14 16 21 34 20 9

SUPPLY

DEMAND

Active Listings

Pending Listings

9,008 6,506 1,718 825 852 504 89 19,502

1,801 1,057 159 51 31 10 0 3,109

RATIO* 5 6 11 16 27 50 N/A 6

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

Average Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$333,424

$389,114

$414,966

$422,796

$434,410

$379,631

$309,118

$329,368

$326,435

$333,754

62

65

75

89

98

104

108

101

109

108

96

96.1

95.8

95.8

93.9

93.4

92.7

92.4

92.1

92.7

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Newport County Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

% CHANGE

345

300

15% 6%

HOMES SOLD

232

183

AVERAGE SALE PRICE

$466,109

$414,020

13%

$450,751

$426,519

MEDIAN SALE PRICE

$367,500

$300,000

23%

$335,000

$294,000

14%

AVERAGE DOM

154

165

-7%

162

187

-13%

% SALE TO LIST PRICE

92.9%

92.3%

1%

91.4%

91.6%

0%

27%

SUPPLY/DEMAND SNAPSHOT Q2 2012

SUPPLY

DEMAND

PRICE RANGE

Active Listings

Pending Listings

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

651 903 371 185 232 178 53 2,573

61 87 25 12 13 4 3 205

Q2 2013

RATIO* 11 10 15 15 18 45 18 13

SUPPLY

DEMAND

Active Listings

Pending Listings

487 843 430 279 240 254 53 2,586

70 124 36 18 6 5 0 259

RATIO* 7 7 12 16 40 51 N/A 10

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $500,000

900

$450,000

800

$400,000

700

$350,000

600

$300,000

500

$250,000

400

$200,000

300

$150,000 $100,000

200

$50,000

100

$0

Days on Market % Sale Price to List Price

# Of Homes Sold

0 2003

Average Sale Price

Median Sale Price

2004

2005

2006

2007

2008

2009

2010

2011

2012

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$444,350

$525,471

$562,745

$591,833

$662,348

$565,318

$448,523

$489,019

$508,967

$540,348

86

89

96

106

119

123

130

129

150

151

93.6

94.3

94.3

93.7

93.6

91.7

89.3

91.3

90.9

92.3

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Washington County Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

HOMES SOLD

399

361

AVERAGE SALE PRICE

$371,300

MEDIAN SALE PRICE AVERAGE DOM % SALE TO LIST PRICE

% CHANGE

YTD 2013

YTD 2012

% CHANGE

11%

637

620

3%

$360,330

3%

$365,929

$376,924

-3%

$290,000

$292,500

-1%

$285,000

$290,00

-2%

123

128

-4%

129

133

-3%

93.5%

90.2%

4%

93.9%

90.7%

4%

SUPPLY/DEMAND SNAPSHOT Q2 2012

SUPPLY

DEMAND

PRICE RANGE

Active Listings

Pending Listings

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

1,234 2,038 528 287 293 160 42 4,582

149 195 32 11 11 4 2 404

Q2 2013

RATIO* 8 10 17 26 27 40 21 11

SUPPLY

DEMAND

Active Listings

Pending Listings

1,049 1,884 501 249 380 175 34 4,272

160 241 36 13 15 3 0 227

RATIO* 7 8 14 19 25 58 N/A 19

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $450,000

1800

$400,000

1600

$350,000

1400

$300,000

1200

$250,000

1000

$200,000

800

$150,000

600

$100,000

400

$50,000

200

$0

Median Sale Price # Of Homes Sold

0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Average Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$364,420

$414,162

$459,224

$473,068

$451,686

$436,509

$351,124

$383,789

$377,122

$415,679

68

68

80

97

107

111

112

112

113

117

95.9

95.9

95.2

98.1

89.6

92.6

92.4

92.0

91.9

92.0

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Providence County Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

% CHANGE

1,895

1,674

13% 8%

HOMES SOLD

1,149

966

AVERAGE SALE PRICE

$210,098

$195,597

7%

$198,276

$184,279

MEDIAN SALE PRICE

$175,000

$159,900

9%

$165,500

$153,000

8%

-11%

87

94

-7%

95.5%

94.3%

1%

19%

AVERAGE DOM

85

95

% SALE TO LIST PRICE

96.1%

94.5%

2%

SUPPLY/DEMAND SNAPSHOT Q2 2012

SUPPLY

DEMAND

PRICE RANGE

Active Listings

Pending Listings

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

5,903 2,077 372 118 72 10 3 8,555

806 207 23 7 7 1 0 1,051

Q2 2013

RATIO*

SUPPLY

DEMAND

Active Listings

Pending Listings

4,903 1,851 336 107 68 18 0 7,283

1,043 371 32 7 3 1 0 1,425

7 10 16 17 10 10 N/A 8

RATIO* 5 5 11 15 23 18 N/A 5

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $300,000

6000

$250,000

5000

$200,000

4000

$150,000

3000

Median Sale Price # Of Homes Sold

$100,000

2000

$50,000

1000

$0

0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Average Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$233,254

$276,027

$295,505

$296,675

$283,043

$237,389

$182,516

$210,629

$194,388

$192,094

47

50

59

74

81

89

90

80

91

92

97.5

97.2

97.1

96.5

95.6

94.6

94.3

94.7

94.5

94.4

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Bristol County Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

HOMES SOLD

136

139

AVERAGE SALE PRICE

$365,528

MEDIAN SALE PRICE AVERAGE DOM % SALE TO LIST PRICE

% CHANGE

YTD 2013

YTD 2012

% CHANGE

-2%

205

203

1%

$359,745

2%

$365,101

$350,965

4%

$297,000

$295,000

1%

$310,000

$275,000

13%

92

110

-16%

104

115

-10%

95.3%

91.8%

4%

94.8%

91.4%

4%

SUPPLY/DEMAND SNAPSHOT Q2 2012

SUPPLY

DEMAND

PRICE RANGE

Active Listings

Pending Listings

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

547 936 295 100 84 55 3 2,020

88 112 27 10 3 3 0 243

Q2 2013

RATIO* 6 8 11 10 28 18 N/A 8

SUPPLY

DEMAND

Active Listings

Pending Listings

405 915 258 104 117 44 2 1,845

87 160 29 9 4 1 0 290

RATIO* 5 6 9 12 29 44 N/A 6

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $450,000

500

$400,000

450

$350,000

400 350

$300,000

300

$250,000 $200,000 $150,000

250

Median Sale Price

200

# Of Homes Sold

150

$100,000

100

$50,000

50

$0

0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Average Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$384,574

$445,163

$465,290

$452,418

$486,501

$418,182

$362,096

$350,232

$352,537

$325,240

63

70

88

96

106

110

121

105

108

104

95.4

95.5

95

94.7

94.6

93.7

92.7

89.3

88.8

89.8

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Kent County Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

895

839

% CHANGE

7% 14%

HOMES SOLD

539

479

AVERAGE SALE PRICE

$216,590

$192,765

12%

$214,734

$188,001

MEDIAN SALE PRICE

$172,500

$152,500

13%

$174,000

$152,500

14%

-8%

88

91

-3%

95.6%

94.8%

1%

13%

AVERAGE DOM

80

87

% SALE TO LIST PRICE

96%

95%

1%

SUPPLY/DEMAND SNAPSHOT Q2 2012

SUPPLY

DEMAND

PRICE RANGE

Active Listings

Pending Listings

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

2,625 973 207 89 41 10 0 3,945

381 121 22 9 0 0 0 533

Q2 2013

RATIO* 7 8 10 10 N/A N/A N/A 7

SUPPLY

DEMAND

Active Listings

Pending Listings

2,134 990 196 86 47 13 0 3,466

449 161 27 4 3 0 0 644

RATIO* 5 6 7 22 16 N/A N/A 5

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $300,000

3000

$250,000

2500

$200,000

2000

$150,000

1500

$100,000

1000

$50,000

500

$0

Median Sale Price # Of Homes Sold

0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Average Sale Price

$240,522

$284,748

$292,064

$299,988

$288,473

$240,757

$201,329

$213,170

$199,162

$195,407

Days on Market

46

49

54

70

76

85

85

77

85

78

% Sale Price to List Price

97.6

97.6

97.6

96.3

96.2

94.8

95.0

94.9

94.4

95.2

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Newport Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

% CHANGE

8%

HOMES SOLD

57

50

12%

76

83

AVERAGE SALE PRICE

$537,972

$562,501

-4%

$512,741

$530,495

3%

MEDIAN SALE PRICE

$398,000

$345,100

15%

$399,000

$349,000

-14%

AVERAGE DOM

181

53

242%

118

126

6%

% SALE TO LIST PRICE

93.3%

91.7%

1.7%

92.3%

92.1%

-0.2%

SUPPLY/DEMAND SNAPSHOT Q2 2012

PRICE RANGE $0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

Q2 2013

SUPPLY

DEMAND

Active Listings

Pending Listings

42 176 72 35 64 49 17 455

7 28 9 3 6 3 3 59

RATIO*

SUPPLY

DEMAND

Active Listings

Pending Listings

53 154 85 58 56 54 22 482

7 33 10 5 2 1 0 58

6 6 8 12 11 16 6 8

RATIO* 8 5 9 12 28 54 N/A 8

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $600,000

300

$500,000

250

$400,000

200

$300,000

150

$200,000

100

$100,000

50

Median Sale Price # Of Homes Sold

$0

0 2003

Average Sale Price Days on Market % Sale Price to List Price

2004

2005

2006

2007

2008

2009

2010

2011

2012

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$487,683

$702,122

$716,878

$703,720

$724090

$648,709

$566,218

$658,372

$570,117

$835,059

96

105

101

123

113

143

143

133

160

162

92.4

93.0

92.6

93.8

92.9

90.2

84.7

88.9

91.0

94.5

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Narragansett Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

HOMES SOLD

52

67

AVERAGE SALE PRICE

$611,000

MEDIAN SALE PRICE AVERAGE DOM % SALE TO LIST PRICE

% CHANGE

YTD 2013

YTD 2012

% CHANGE

-29%

88

110

-25%

$515,000

16%

$533,500

$468,167

12%

$334,000

$371,000

-11%

$351,333

$380,000

-8%

159

144

9%

155

142

8%

91.4%

84.2%

8%

91.5%

86.5%

5%

SUPPLY/DEMAND SNAPSHOT Q2 2012

PRICE RANGE

SUPPLY

DEMAND

Active Listings

Pending Listings

58 273 133 54 46 58 5 627

5 35 8 1 3 2 1 55

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

Q2 2013

RATIO* 12 8 17 54 15 29 5 11

SUPPLY

DEMAND

Active Listings

Pending Listings

51 284 93 52 61 49 3 593

11 44 7 3 4 2 0 71

RATIO* 5 6 13 17 15 25 N/A 8

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $500,000

300

$450,000

250

$400,000 $350,000

200

$300,000 $250,000

150

Median Sale Price # Of Homes Sold

$200,000

100

$150,000 $100,000

50

$50,000 $0

0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Average Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$450,507

$504,075

$578,643

$574,506

$491,788

$533,271

$391,910

$533,508

$477,349

$529,761

82

71

79

114

123

125

124

135

139

141

93.5

95.4

95.4

92.2

93.1

91.3

92.3

92.2

91.0

88.2

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


East Side of Providence Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

% CHANGE

88

79

11% 1%

HOMES SOLD

66

60

AVERAGE SALE PRICE

$556,667

$519,000

7%

$516,667

$511,000

MEDIAN SALE PRICE

$417,000

$447,000

-7%

$458,667

$448,500

2%

-6%

101

117

-14%

95.5%

93.3%

2%

10%

AVERAGE DOM

99

105

% SALE TO LIST PRICE

96.9%

93.2%

4%

SUPPLY/DEMAND SNAPSHOT Q2 2012

PRICE RANGE

SUPPLY

DEMAND

Active Listings

Pending Listings

69 137 92 57 44 7 3 409

4 32 14 6 5 1 0 62

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

Q2 2013

RATIO* 17 4 7 10 9 7 N/A 7

SUPPLY

DEMAND

Active Listings

Pending Listings

31 99 73 38 38 7 0 286

6 33 17 7 2 1 0 66

RATIO* 5 3 4 5 19 7 N/A 4

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $600,000.00

250

$500,000.00

200

$400,000.00

150 Median Sale Price

$300,000.00

# Of Homes Sold

100

$200,000.00

50

$100,000.00 $0.00

0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Average Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$453,980

$540,210

$578,834

$600,197

$575,976

$592,702

$506,981

$507,147

$480,436

$521,866

63

57

64

70

67

83

82

79

85

102

95.9

94.4

95.6

95.3

94.5

95.5

93.5

94.5

94.1

93.4

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Jamestown Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

% CHANGE

41%

HOMES SOLD

29

15

93%

38

27

AVERAGE SALE PRICE

$674,089

$505,400

33%

$742,860

$524,922

42%

MEDIAN SALE PRICE

$499,333

$477,333

5%

$525,167

$464,667

13%

AVERAGE DOM

157

185

-15%

157

220

-29%

% SALE TO LIST PRICE

92.5%

94%

-2%

92.5%

91.5%

1%

SUPPLY/DEMAND SNAPSHOT Q2 2012

PRICE RANGE $0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

SUPPLY

DEMAND

Active Listings

Pending Listings

6 82 49 38 26 45 12 258

1 8 2 3 0 0 0 14

Q2 2013

RATIO* 6 10 25 13 N/A N/A N/A 18

SUPPLY

DEMAND

Active Listings

Pending Listings

2 79 46 39 20 67 13 266

1 14 5 5 2 1 0 28

RATIO* 2 6 9 8 10 67 N/A 10

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $900,000.00

80

$800,000.00

70

$700,000.00

60

$600,000.00

50

$500,000.00

40

$400,000.00

30

$300,000.00

Median Sale Price # Of Homes Sold

20

$200,000.00

10

$100,000.00 $0.00

0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Average Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$547,260

$600,400

$844,450

$820,028

$1,051,125

$1,114,325

$863,452

$751,075

$733,908

$669,222

74

110

109

126

140

125

159

148

196

197

93.4

94.0

94.0

92.9

92.8

94.2

91.9

92.0

91.3

91.8

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Westerly Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

93

100

% CHANGE

-7% -18%

HOMES SOLD

56

60

AVERAGE SALE PRICE

$469,570

$382,098

23%

$400,609

$486,144

MEDIAN SALE PRICE

$290,333

$284,000

2%

$254,667

$299,333

-15%

-10%

133

143

-7%

90.4%

89.5%

1%

-7%

AVERAGE DOM

130

144

% SALE TO LIST PRICE

92.1%

90.9%

1%

SUPPLY/DEMAND SNAPSHOT Q2 2012

PRICE RANGE

SUPPLY

DEMAND

Active Listings

Pending Listings

215 436 74 77 77 50 28 957

27 32 4 4 2 1 1 71

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

Q2 2013

RATIO* 8 14 19 19 39 50 28 13

SUPPLY

DEMAND

Active Listings

Pending Listings

167 341 110 44 80 51 27 820

25 30 8 2 4 0 0 69

RATIO* 7 11 14 22 20 N/A N/A 12

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $400,000

300

$350,000

250

$300,000 200

$250,000 $200,000

Median Sale Price

150

# Of Homes Sold

$150,000

100

$100,000 50

$50,000 $0

0 2003

Average Sale Price Days on Market % Sale Price to List Price

2004

2005

2006

2007

2008

2009

2010

2011

2012

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$361,890

$422,991

$480,102

$580,597

$543,149

$511,132

$422,925

$391,002

$468,075

$584,259

61

69

93

109

124

128

134

124

120

147

94.7

93.7

93.1

92.3

91.4

91.9

89.1

88.7

88.8

91.4

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Block Island Single-Family Homes – Q2 2012 v Q2 2013 OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

% CHANGE

HOMES SOLD

3

4

33%

5

7

-40%

AVERAGE SALE PRICE

$755,000

$1,522,000

-102%

$918,000

$1,609,000

-75%

MEDIAN SALE PRICE

$509,333

$1,107,667

-117%

$642,167

$1,052,500

-64%

AVERAGE DOM

441

331

33%

509

270

89%

% SALE TO LIST PRICE

88.3%

81.3%

8%

87%

83.3%

4%

SUPPLY/DEMAND SNAPSHOT Q2 2012

PRICE RANGE

SUPPLY

DEMAND

Active Listings

Pending Listings

0 0 6 24 65 13 3 111

0 0 0 0 2 1 0 3

$0 - $250,000 $250,000 - $500,000 $500,000 - $750,000 $750,000 - $1,000,000 $1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

Q2 2013

RATIO* N/A N/A N/A N/A 33 13 N/A 37

SUPPLY

DEMAND

Active Listings

Pending Listings

0 0 8 35 121 29 1 194

0 0 1 2 1 1 0 5

RATIO* N/A N/A 8 18 121 29 N/A 39

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History $600,000.00

250

$500,000.00

200

$400,000.00

150 Median Sale Price

$300,000.00

# Of Homes Sold

100

$200,000.00

50

$100,000.00 $0.00

0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Average Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$453,980

$540,210

$578,834

$600,197

$575,976

$592,702

$506,981

$507,147

$480,436

$521,866

63

57

64

70

67

83

82

79

85

102

95.9

94.4

95.6

95.3

94.5

95.5

93.5

94.5

94.1

93.4

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Rhode Island Luxury Single-Family Homes – Q2 2012 v Q2 2013

OVERVIEW Q2 2013

Q2 2012

% CHANGE

YTD 2013

YTD 2012

% CHANGE

HOMES SOLD

44

39

13%

62

66

-6%

AVERAGE SALE PRICE

$1,672,989

$1,570,756

7%

$1,749,686

$1,678,962

4%

MEDIAN SALE PRICE

$1,425,000

$1,270,000

12%

$1,425,000

$1,300,000

10%

AVERAGE DOM

224

268

-16%

220

236

-7%

% SALE TO LIST PRICE

90.2%

81.6%

11%

88.7%

83.4%

6%

SUPPLY/DEMAND SNAPSHOT Q2 2012

SUPPLY

DEMAND

PRICE RANGE

Active Listings

Pending Listings

$1,000,000 - $2,000,000 $2,000,000 - $5,000,000 $5,000,000 and up Market Total

722 413 101 1,236

34 12 5 51

Q2 2013

RATIO* 21 34 20 24

SUPPLY

DEMAND

Active Listings

Pending Listings

857 500 89 1,446

31 10 0 41

RATIO* 28 50 N/A 35

*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand

Ten Year Market History

Av. Sale Price Days on Market % Sale Price to List Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

$1,670,091

$1,790,002

$1,751,252

$1,842,918

$2,014,631

$1,963,550

$1,868,310

$1,865,684

$2,095,917

$2,164,867

148

162

142

156

151

145

175

170

184

191

88.8

90.1

90.4

90.1

91.5

90.1

84.8

80.0

79.9

83.7

This representation 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. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (4/1/13) through (6/30/13).


Rhode Island Q2 Real Estate Market Report 2013