Market Report Third Quarter - 2014 Executive Summary The Rhode Island real estate market continues to rebound and both buyers and sellers remain active. Statewide saw quarter to quarter results relatively flat but had a positive reduction in days on market (DOM) of 7%. Year to date we saw a positive bump in number of homes sold, average sales price and median sales price as well as a healthy reduction in DOM. Newport County saw a 12% increase in average sale price while quarter to quarter was stable. Washington County saw a 14% decline quarter to quarter in average sale price but that was mitigated by a 5% gain in the number of homes sold and a 9% reduction in DOM. Providence County reported small gains in almost all categories from both quarter to quarter and year to date. Bristol County was the darling of the quarter with strong gains both in quarter to quarter and year to date. Bristol County also reported double digit gains in average sale and median sale prices with a healthy reduction in days on market for both time frames. In the luxury market, quarter to quarter and year to date saw a large increase in the number of homes sold, 111% and 154% respectively. Homes priced $5,000,000 and higher also saw a 19% decrease in available inventory, which may explain for the decrease in days on market.
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.