Q3 Market Report

MARKET REPORT THIRD QUARTER

METRO & EAST BAY $750,000

MEDIAN SALE PRICE Median sale prices of multi-family homes in Providence have increased by nearly $20k since the second quarter, highlighting the incredible opportunities that still exist for investors looking to purchase in the Metro area.

$500,000

$250,000

NUMBER OF SALES Cranston continues to prove to be a hot single-family market, with 243 sales in the second quarter and 274 sales in the third quarter.

Cr an st on

Jo hn st on

Br is Ea to st l Pr ov id en ce Pr ov id N en or ce th Pr ov id en ce

300

200

100

KEY:

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

Ba rr in gt on

0 W ar re n

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

If you own a single-family home in Lincoln or North Smithfield, it's still an incredible time to sell! With median sale prices coming in at $432,500 and $467,100 respectively, it seems as though the strong seller's market is here to stay...

200

150

NUMBER OF SALES

KEY:

100

50

0 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

Pawtucket is the clear outlier amongst the northern towns as they recorded 95 multi-family sales in the third quarter - a number that is 4 times higher than the number of muli-family sales recorded in Central Falls.

Single-family Condo Multi-family

SOUTH COUNTY $2,000,000

$1,500,000

MEDIAN SALE PRICE $1,000,000

$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

Sellers of multi-family homes and condos in Narragansett were not disappointed by any stretch of the imagination during the third quarter, as the median sale prices were $757,000 and $575,000 respectively.

100

99 single-family sales during the third quarter in North Kingstown is no surprise, as this coastal market offers access to Rhode Island's famous beaches and 30minute proximity to downtown Providence.

KEY:

75

50

25

0 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

NUMBER OF SALES

Single-family Condo Multi-family

KENT COUNTY $750,000

MEDIAN SALE PRICE Median sale prices in East Greenwich reached their highest point across all property types during the third quarter with numbers ranging from $350,000 to $675,000.

$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 single-family market in Warwick continues to heat up as they make the jump from 358 sales in the second quarter to 365 sales in the third quarter.

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 $1,000,000

$750,000

MEDIAN SALE PRICE With median sale prices in the $500,000 range across all property types in Portsmouth, this small town is an opportune market for investors and owneroccupants alike.

$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

100

75

NUMBER OF SALES 50

25

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

Condo sales in Newport trumped the other towns in the county during this quarter, but when looking at the city's statistics last quarter, it's evident that the condo market was certainly hotter during April, May, and June.

FOR AN IN-DEPTH ANALYSIS OF YOUR LOCAL MARKET, PLEASE EMAIL YOUR REAL ESTATE PROFESSIONAL.

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

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