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News

RI Realtors Report Active April Housing Market

Warwick, RI – May 21, 2019 – The median price of Rhode Island single-family homes sold in April reached $275,000, a 2.1 percent hike from 12 months earlier. Despite the rainy weather, sales activity also increased, rising 8.7 percent year over year. Though the number of single-family homes listed for sale in April was 6.5 percent more than last year, inventory remains tight with a supply of less than four months. A market balanced between supply and demand typically has invenory that would take six months to deplete at the present rate of sales.

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RI Home Prices Still on the Rise in First Quarter

Warwick, R.I. – April 30, 2019 – According to first quarter sales statistics from the Rhode Island Association of Realtors, the median price of single-family home sales increased two percent from the first quarter of 2018 to $255,000. Nine municipalities saw double-digit increases in median price with Westerly leading the pack with a 27.8 percent gain. Median price reflects the mid-point of all sales, with half sold for less and half sold for more. Only twelve municipalities experienced a decline in median sales price.

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Home Buying Season Begins with Increased Inventory and Lower Mortgage Rates

Warwick, RI – April 22, 2019 -- Home sales data released today by the Rhode Island Association of Realtors shows favorable trends for spring home buyers as inventory continues to rise and mortgage rates remain low.

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Rhode Island’s housing supply shows February gains

Warwick, RI – March 21, 2019 -- February sales data released today by the Rhode Island Association of Realtors and its subsidiary, State-Wide Multiple Listing Service show signs of promise for buyers who have been hindered by low inventory in Rhode Island’s housing market for the past several years.

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Rhode Island’s Housing Trends Stay on Course at Beginning of Year

Warwick, RI – February 21, 2019 -- January sales data released today by the Rhode Island Association of Realtors and its subsidiary, State-Wide Multiple Listing Service, reflect that 2018 housing trends are continuing into the new year.

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Median Price of R.I. Home Sales Continued to Rise in Fourth Quarter of 2018

Warwick, RI – January 31, 2019 – Though single-family home sales fell 7.3 percent in the last three months of 2018, the median sales price continued to rise, increasing four percent from the fourth quarter of 2017 to $268,000. Sales data released today by the Rhode Island Association of Realtors and its subsidiary, State-Wide Multiple Listing Service, portray a market beginning to become more evenly balanced between buyers and sellers due to moderating sales. The data represents only sales transacted by Realtors through the MLS system.

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Deadline Approaching for Applications for Realtor Foundation: RI Grants

Warwick, RI – The Realtor Foundation: Rhode Island is accepting applications from non-profit 501(c)3 organizations for grants of up to $5000. Applicants must support the Realtor Foundation’s mission to enhance the quality of life within our communities by organizing volunteers and/or raising funds that enrich communities and assist individuals or entities affected by a personal or natural disaster.

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Housing Inventory Continues to Grow at End of Year

Warwick, RI -- January 28, 2019 – Sales of single-family homes dropped year-over-year in December, falling 15.6 percent from 12 months earlier according to the latest sales statistics from the Rhode Island Association of Realtors. Market inventory rose 8.3 percent while the median sales price increased to $265,000, a 3.9 percent increase from the median price of December 2017.

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RI’s Housing Market Showing Strong End-of-Year Finish

Warwick, RI – December 19, 2018 – November sales data released by the RI Association of Realtors (RIAR) and State-Wide Multiple Listing Service (MLS) reflect a strong housing market as the year heads to a close. Single-family home sales increased 2.1 percent from 12 months earlier and the median sales price of $267,700 represented a 3.4 percent hike. MLS recorded the highest number of November sales on record last month and the median selling price was the highest in November since 2006.

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Housing Trends Stay Consistent in October

Warwick, RI -- November 21, 2018 – October saw much of the same in Rhode Island’s single-family home sale trends. The median sales price of homes sold last month continued to rise year-over-year for the 21st consecutive month while sales activity decreased for the eighth consecutive month.

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