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RHODE ISLAND ASSOCIATION OF REALTORS®, INC.

"The Voice of Real Estate in Rhode Island"
Serving Rhode Islanders Since 1948
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Press Release

Contact: Kerry Park
Ph: 401-432-6948
Email: communications@riliving.com

 

Press Releases - 2009

December 2009

Rhode Island Sees Annual Increase in Single Family Home Prices in November for the First Time Since Mid 2006

Warwick, RI, December 22, 2009…The November median price of Rhode Island single family home sales increased 1.2 percent to $205,000 from $202,500 the year prior.  The gain marks the first month that median price has risen since July of 2006.  The news followed a report from Zillow, a national real estate tracker, which recognized Rhode Island as second only to Boston in having the largest gain in home values in 2009. Full Story

November 2009

Home Sales Continue to Climb in October

Warwick, RI, November 25, 2009…Rhode Island existing single family home sales rose 28.9 percent in October from the year prior, marking the seventh consecutive month of rising sales in the Rhode Island market.  Inventory also continued its downward trend, down 5.4 percent, the lowest supply of single family homes on the market since early 2006. Currently, there is a 6.3–month supply of homes on the market.  A six-month supply is considered a normal balance of demand between buyers and sellers. Full Story

RI Association of Realtors and State-Wide MLS Announce New Officers

Warwick, RI, November 18, 2009...The Rhode Island Association of Realtors (RIAR) has announced its 2010 officers.  Installed at the association's Annual Meeting on October 22nd, they begin their official duties this week, following their return from the National Association of Realtors Annual Convention in San Diego. Full Story

Realtor Data Shows Tax Credit Improved Housing Market Throughout The Year

Warwick, RI, November 10, 2009…Rhode Island Realtors lauded the passage of the homebuyer tax credit extension, citing the success of the current tax credit in pushing the recovery of the housing market.  According to Realtor data, sales have been increasing, inventory decreasing and prices stabilizing throughout the year. Full Story »

October 2009

3rd Quarter Real Estate Sales Data Shows Strong Recovery Momentum

Warwick, RI, October 29, 2009….Third quarter real estate sales statistics showed existing single family home sales up 21.1 percent from third quarter 2008 according to data released today by the Rhode Island Association of Realtors (RIAR).  Distressed properties, those sold through foreclosure or short sale, accounted for 29.7 percent of total sales. Full Story »

Realtor Data Shows Home Sales Continued to Climb in September

Warwick, RI, October 27, 2009…According to data released by the Rhode Island Association of Realtors today, Rhode Island existing single family home sales rose 27.9 percent in September and the number of days a single family home stayed on the market dropped to 87 from a high of 109 earlier this year. Sales activity appears to be spurred by the $8000 tax credit from the federal government available to eligible buyers.  Full Story »

RI Association of REALTORS® Announces 2009 RI REALTOR of the Year

Warwick, RI, October 26, 2009…The Rhode Island Association of Realtors (RIAR) has announced that Alyce Kleczek of Bay Realty in Narragansett was chosen by her peers as 2009 Realtor of the Year.  The award recognizes one of more than 4200 Realtors statewide for their dedication to the Realtor organization and their local communities.   Full Story »

September 2009

Continued Recovery for Rhode Island Housing Market

Warwick, RI, September 24, 2009…The median price of Rhode Island existing single family homes rose for the fifth month in a row to $220,000 in August 2009 from $210,000 the month prior.  The median price reflects the midpoint of sales prices where half the homes sold for more and half sold for less. Though the median sales price remained down from a year earlier (-6.4 percent), the percentage of decline has decreased substantially in recent months. Full Story »

August 2009

REALTOR DATA SHOWS IMPROVING RI HOUSING MARKET

August 28, 2009, Warwick,RI…Statistics released today by the Rhode Island Association of Realtors show several indications of an improving housing market.  Existing single family home sales rose 8.8 percent from July 2008 to July 2009.  Median price decreased 14.3 percent to $210,000 during the same time period but held steady from the month prior. Prices have gone up or remained the same since March of this year.  July’s median price of $210,000 was 20 percent higher than the 2009 low point of $175,000. The July sales that did not involve short sales or foreclosure saw a higher median sales price of $239,500. Full Story »

New Realtor Sales Data Helps Consumers Understand Market Conditions in Rhode Island Neighborhoods

Warwick, RI…August 14, 2009…An analysis of sales data by Rhode Island zip codes showed a wide disparity in median price change from the first half of 2008 to the first half of this year.  Single family median price went down in all but three zip codes throughout Rhode Island, according to data released today by the Rhode Island Association of Realtors (RIAR).  The exceptions occurred in parts of Wyoming (02898), Harmony (02829) and Providence (02903) which showed increases in single family median price year-to-year.  The 02903 section of Providence went up by as much as 168 percent.  Median price in all other areas decreased, down 2 percent in the 02825 zip code (Foster) to as much as 77 percent down in the 02858 (Oakland) area.  Change in price could not be computed for 20 of Rhode Island’s 91 zip code areas because no sales had taken place this year. Full Story »

July 2009

REALTORS Release 2nd Quarter Statistics

Warwick, RI…July 28, 2009 - Second quarter sales statistics showed existing single family home sales up 6.1 percent from second quarter 2008 according to data released today by the Rhode Island Association of Realtors (RIAR). Urban areas, which are the areas most affected by distressed sales (foreclosures and short sales) saw the biggest increases in sales volume.  Full Story »

June Home Prices Up for Fourth Consecutive Month

Warwick, RI, July 23, 2009…Signs of a Rhode Island housing recovery were strong in June with the existing single family median sales price continuing to increase for the fourth consecutive month.  Prices rose to $210,000 last month from $190,000 in May.  Sales volume was also up 20.9 percent from May to June and 12.4 percent year to year. Full Story »

June 2009

May Home Sales Up

Warwick, RI, June 22, 2009…Rhode Island existing single family home sales continued to see an increase in sales and median price in May.  The number of homes sold increased 2.2 percent in May of this year from May 2008 and rose 25.9 percent from the prior month.  Pending sales were up 24 percent from the previous year. Rhode Island single family pending sales represent homes under contract but not yet closed. The median single family home price rose in May to $190,000 from $183,000 in April, but remained below the $252,500 median price of May, 2008.  Full Story »

May 2009

April Home Sales Up

Warwick, RI, May 28, 2009…Rhode Island existing single family home sales increased 3.1 percent in April from a year prior and rose 9.3 percent from March to April. Pending sales- homes under contract but not yet closed – were up nearly 30 percent from the previous year. The median single family home price rose to $183,000 from $180,000 in March, but was down 24.4% year to year, from $242,000 in April, 2008.  Forty-two (42) percent of the transactions in April of this year were distressed sales.  The median price of non-distressed transactions was $224,000. Full Story »

Increasing First Time Buyer Market Lowers Median Price

Warwick, RI, May 6, 2009….An analysis of home sales statistics for the first quarter shows virtually all sales activity occurring in the lower priced market, according to the Rhode Island Association of Realtors.  The majority of existing single family home sales, 83 percent, involved properties valued at less than $300,000.  By comparison, 62 percent homes valued in that price range sold in the first quarter of 2005.  Homes under $150,000 accounted for 3.6 percent of the market three years ago;  they now account for 37 percent of all single family sales.  Condominium sales were similar, with 80 percent of first quarter sales occurring in the under $300,000 price bracket.  Forty-two (42) percent sold for $150,000 or less. Full Story »

Multi Family Home Sales Double in First Quarter

Warwick, RI, May 5, 2009….Sales statistics released today by the Rhode Island Association of Realtors (RIAR) show sales booming in the multi-family market, up more than 106 percent during the first quarter of 2009 compared to the same time period a year earlier.  The surge in sales is sparked by falling prices fueled by distressed sales.  Distressed sales – sales marked by foreclosure or short sales – accounted for 81.4 percent of all multi-family sales in the first quarter.  The median multi-family price fell to $80,000 from $161,000 the year prior. Full Story »

Single Family Home Sales Increase in First Quarter

Warwick, RI, May 1, 2009… Existing single family home statistics released today by the Rhode Island Association of Realtors show sales increasing from first quarter 2008 to first quarter 2009 by .40 percent.  Overall, median price dropped from $245,000 last year to $180,000. Forty-five percent of the sales were distressed sales, sold through short sale or foreclosure. The price of non-distressed sales was $225,000. Full Story »

April 2009

March RI Home Sales Ahead of National Average

Warwick, RI, April 30, 2009…Rhode Island existing home sales increased 21.5 percent from February to March in contrast to national sales data released from the National Association of Realtors (NAR), which showed a 3 percent drop.  The data includes sales of condominiums and single and multi-family homes.  The Rhode Island statistics from the Rhode Island Association of Realtors (RIAR) showed a 12.4 percent increase in sales from March 2008 to March 2009 while the NAR data showed a nationwide 7.1 decrease in sales among all three categories combined during the same twelve months. Full Story »

March 2009

February Sales Increase with Movement of Distressed Properties

Warwick, RI, March 31, 2009 …Rhode Island single family home sales rose 7.8 percent in February, from 372 sales in February 2008 to 401 sales in February this year.  Pending sales – those under contract but not yet closed – also increased nearly 20 percent (19.5) percent according to sales statistics released today by the Rhode Island Association of Realtors.  The statewide information comes on the heels of a report by the National Association of Realtors (NAR) that nationally, sales rose 5.1 percent for all property types in February. Full Story »

February 2009

Single Family Home Sales Dip Slightly in January

Warwick, RI, February 24, 2009…According to statistics released today by the Rhode Island Association of Realtors, the number of existing single family home sales was down 3.2 percent last month, from 376 sales in January 2008 to 364 sales in January 2009.  The median price dropped markedly, down 28.6 from $245,000 to $175,000 owing to an unprecedented number of distressed sales in January.  Forty-eight (48) percent of properties were sold through short sale or foreclosure.  The median price of non-distressed sales was $227,475. Full Story »

Multi-Family Market Sales Jump 100 Percent in December

Warwick, RI - February 5, 2009…The number of multi-family property sales doubled from 101 in December 2007 to 202 in December 2008 according to sales statistics released today by the Rhode Island Association of Realtors (RIAR). The percentage of multi-family sales has been increasing throughout the year, up 33.2 percent in 2008 overall, (1254 in 2007 to 1670 last year) and up 92.9 percent in the fourth quarter from 281 to 542. Full Story »

Condo Price Drops 3.8 Percent in 2008

Warwick, RI - February 2, 2009…Condominium sales statistics released today by the Rhode Island Association of Realtors, show a decrease in the number of condo sales, dropping 33 percent in 2008 compared to 2007.  Eighteen hundred and six (1806) condo sales were transacted in Rhode Island in 2007 compared to 1210 last year.  Median sales price declined slightly from $221,000 to 212,700, or 3.8 percent. Full Story »

January 2009

RI Association of REALTORS Releases Single Family Home Sales Statistics

Warwick, RI - January 29, 2009... Single family home sales dropped 12.5 percent in 2008, from 7600 in 2007 to 6648 in 2008 according to year-end sales statistics released today by the Rhode Island Association of Realtors.  Year-over-year sales began to increase in September however, and have risen each month since, with the exception of November. Full Story »

Rhode Island Home Sales Fall in November

Warwick, RI - January 6, 2009... Despite two previous months of increasing sales which indicated the beginning of a market turnaround, statistics released by the Rhode Island Association of Realtors (RIAR) today showed a decrease in sales volume and price in November. The number of existing single family homes sold was down 16.05 percent from November, 2007, to 455 in November 2008 from 542 a year prior. Full Story »