Q2 Market Report

MARKET REPORT SECOND QUARTER

METRO & EAST BAY $1,000,000

MEDIAN SALE PRICE $750,000

The limited supply in Barrington resulted in a significant increase in median sales prices. While singlefamily homes led the way at $650,000, multi-family homes and condos didn't trail far behind, coming in at $383,500 and $245,000 respectively.

$500,000

$250,000

Br Ea is to st l Pr ov id en ce Ea P ro st vi Si de de nc of e Pr ov id N or en th ce Pr ov id en ce Jo hn st on Cr an st on

W ar re n

Ba rr in gt on

$0

250

200

NUMBER OF SALES Across single-family homes, multifamily homes, and condos, Providence impressively recorded 474 sales during the second quarter.

150

100

50

KEY:

Br Ea is st to Pr l ov id en ce Pr ov id en ce Ea N st or Si th de Pr ov id en ce Jo hn st on Cr an st on

W ar re n

Ba rr in gt on

0

Single-family Condo Multi-family

NORTHERN RI $500,000

$400,000

MEDIAN SALE PRICE $300,000

$200,000

$100,000

Fo st er Sc itu at e

Li nc Cu ol n m be rla W nd oo ns oc ke Pa t w tu ck Ce et nt N ra or lF th al ls Sm ith fie ld Sm ith fie ld Bu rr ill vi lle G lo ce st er

$0

Lincoln is leading the way in median sales prices for single and multi-family homes coming in at $480,000 and $394,000 respectively, while Scituate rises to the top of the charts for condominiums at $376,565.

125

100

NUMBER OF SALES Pawtucket was certainly an active market during the second quarter with 109 single-family sales, 83 multi-family sales, and 31 condo sales.

75

50

25

Li Cu nco ln m be rla W nd oo ns oc ke Pa t w tu ck Ce et nt N r or al th F Sm all s ith fie Sm ld ith fi Bu eld rr ill vi lle G lo ce st er Fo st er Sc itu at e

0

KEY:

Single-family Condo Multi-family

SOUTH COUNTY $1,500,000

MEDIAN SALE PRICE

$1,000,000

Condo sales in South Kingstown climbed to the top of the charts at a median sale price of $520,595, while single-family and condo sales fell slightly behind at $485,000 and $425,000.

$500,000

Ex et er H op ki nt on R ic hm on Ch d ar le st ow n W es te rly Bl oc k So Is la ut nd h K in gs to w N n ar ra ga N ns or et th t K in gs to w n

$0

100

NUMBER OF SALES North Kingstown recorded 86 single-family home sales and 24 condo sales, indicating that this coastal town is surely a soughtafter market.

75

50

25

Ex et er H op ki nt on R ic hm on Ch d ar le st ow n W es te rly Bl oc k So Is ut la nd h K in gs to w N n ar ra g N an or se th tt K in gs to w n

0

KEY:

Single-family Condo Multi-family

KENT COUNTY $750,000

MEDIAN SALE PRICE East Greenwich captured the markets of all three property types with median sale prices ranging from $370,000 to $712,250, suggesting a hot and competitive environment that won't simmer in the third quarter.

$500,000

$250,000

W es tG re en w ic h

Co ve nt ry

W ar w ic k

W es tW ar w ic k

Ea st G re en w ic h

$0

400

300

NUMBER OF SALES The median sale price in Warwick is up 23% year-over-year, but that didn't stop the city from going on record with 358 single-family sales and 55 condo sales.

200

100

KEY:

Single-family Condo Multi-family

W es tG re en w ic h

Co ve nt ry

W ar w ic k

W es tW ar w ic k

Ea st G re en w ic h

0

NEWPORT COUNTY $1,250,000

$1,000,000

MEDIAN SALE PRICE

$750,000

When examining hot multi-family markets, we can see that median sale prices peaked at $782,000 in Newport and $775,000 in Middletown.

$500,000

$250,000

Ja m es to w n

N ew po rt

M id dl et ow n

Po rt sm ou th

Co m pt on

Li tt le

Ti ve rt on

$0

80

60

NUMBER OF SALES 40

20

KEY:

Single-family Condo Multi-family

Ja m es to w n

N ew po rt

Po rt sm ou th M id dl et ow n

Li tt le

Co m pt on

0 Ti ve rt on

Multi-family home sales were up by 243% year-over-year in Newport, a statistic that is certainly not surprising during the summer months in this popular coastal town.

FOR AN IN-DEPTH ANALYSIS OF YOUR LOCAL MARKET, PLEASE EMAIL: CHRISTINA@WESTCOTTPROPERTIES.COM

This information was derived from the Residential Sales Statistics provided by the Rhode Island Association of Realtors for the second quarter. Information regarding single-family, multi-family, and condo sales is deemed reliable but is not guaranteed.

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