In addition to ranking #1 in Rhode Island for overall sales volume for more than two decades running, Residential Properties Ltd. also earns annual national recognition as one of the top real estate companies in the country. Recently, RPL was included on the 2021 Real Trends Top 500 and the RIS Media Top 500 Power Broker Rankings - two prestigious lists of the largest and most successful residential real estate brokerages in the entire nation.
Most importantly, our offices are filled with knowledgeable agents who will strive to provide a positive, satisfying, and professional experience, whether you’re buying your first house, selling a property, or moving into your dream home.
The sun has officially set on the last days of our New England summer. As the leaves change and we head into the final quarter of the year, let’s take a moment to look over the local real estate activity during the third quarter and throughout the opening nine months of the year.
While Rhode Island homes are still selling faster and for higher prices than ever before, a lack of inventory has suppressed overall sales in the state.
Year to date, the average days on market for a single family home in Rhode Island has fallen to just 30 days, nearly half the average days on market from just two years ago.
However, the number of new single family listings fell by roughly 11% compared to this time last year, resulting in the state’s lowest number of single family sales through the opening three quarters since 2015.
While year-to-date prices for single family homes have reached new all-time highs, the average sales price for the third quarter was actually slightly less than the previous year, hinting at a potential top.
The number of new condominium listings in Rhode Island has dropped by roughly 19% on the year, returning sales totals back in line with pre-pandemic levels.
Meanwhile, the average sales price has risen by more than 10% for a third consecutive year, reaching a new all-time mark.
The multi-family market in Rhode Island has remained very active. Year to date, the average sales price for a multi-family home has continued to soar
to record levels, and while sales are down compared to last year’s all-time high, the state still saw its second most multi-family sales during the opening three quarters since 2010.
Switching our focus to the Massachusetts market, new single family listings in the South Coast region are down for a fourth consecutive year, contributing to an over 13% dip in South Coast single family sales over the opening three quarters.
The year-to-date average single family sales price in the South Coast increased for a tenth consecutive year, and has now more than doubled over that time period.
As we head into the final quarter of 2022, many eyes will be focused on the activity of our local real estate markets. With so many shifting factors impacting the industry, we’d like to remind everyone that our local real estate experts are here to assist you and answer any questions you may have. Whether buying or selling, our knowledgeable Realtors are always available to guide you throughout the entire process.
2021: 16,851
14,477
2021: 12,417
10,724
2021: $449,890
$491,717
2021: 36 days
30
2021:
2021:
2021: $619,865
$653,672
2021: 3,919
3,491
2021: 2,868 2022: 2,633
2021: $352,917
$396,877
2021: 31
27
Cranston, East Providence, East Side, Edgewood, Pawtucket, Providence
2021: 5,172 2022: 4,350
2021: 3,827 2022: 3,273
2021: $364,527 2022: $420,785
2021: 31
25
2021: 3,295
2,672
2021: 2,429 2022: 2,010
2021: $357,163
$406,100
2021: 32 days
30 days
Family Homes,
2021: 84,419
75,138
2021: 66,337
57,655
2021: $640,430
$704,290
45 days
35 days
Dartmouth, Fall River,
2021: 1,543
1,351
2021: 1,212
1,027
$427,137
$505,318
2021: 36
39
Attleboro, Easton, Mansfield,
Rehoboth,
Attleboro,
Taunton
2021: 3,052
2,817
2021: 2,523
2,214
2021: $461,545
$510,068
EAST PROVIDENCE, RI
Sold: $1,000,000
BARRINGTON, RI Sold: $1,100,000
PROVIDENCE, RI
Sold: $1,450,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,495,000
WARWICK, RI Sold: $2,800,000
PROVIDENCE, RI Sold: $1,375,000
BARRINGTON, RI Sold: $1,200,000
WARREN, RI Sold: $1,060,000
EAST SIDE OF PROVIDENCE, RI
Sold: $2,250,000
EAST SIDE OF PROVIDENCE, RI Sold: $1,135,000
EAST SIDE OF PROVIDENCE, RI Sold: $1,010,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,220,000
CUMBERLAND, RI
Sold: $1,275,000
EAST SIDE OF PROVIDENCE, RI Sold: $1,150,000
EAST SIDE OF PROVIDENCE, RI Sold: $1,275,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,166,000
NORTH KINGSTOWN, RI
Sold: $1,352,500
NARRAGANSETT, RI
Sold: $1,447,000
BARRINGTON, RI Sold: $1,500,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,350,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,100,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,000,000
BARRINGTON, RI Sold: $1,200,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,595,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,200,000
BARRINGTON, RI
Sold: $1,200,000
EAST SIDE OF PROVIDENCE, RI
Sold: $ 1,255,000
EAST SIDE OF PROVIDENCE, RI
Sold: $1,310,000
WAKEFIELD, RI Sold: $2,950,000
BARRINGTON, RI Sold: $1,970,000
EAST SIDE OF PROVIDENCE, RI Sold: $1,800,000
CHARLESTOWN, RI Sold: $1,550,000
EAST SIDE OF PROVIDENCE, RI Sold: $1,500,000
EAST SIDE OF PROVIDENCE, RI Sold: $1,455,000
BARRINGTON, RI Sold: $1,410,000
BARRINGTON, RI Sold: $1,300,000
NARRAGANSETT, RI Sold: $1,295,000
