Second Quarter 2014Rhode Island Market Report

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Q2-2014

Executive summary

Welcome to Berkshire Hathaway HomeServices New England Properties Second Quarter Rhode Island Market Report, our examination of the single family and condominium markets in Bristol, Kent, Newport, Providence and Washington Counties.

The Rhode Island market saw robust seasonal gains in the Second Quarter 2014, with closed sales exceeding 2,200 transactions and single family home median sales prices achieving $217,000, an increase of 5.9% year over year. Low inventory levels led to an 8.1% decrease of days on market to 126 days with buyers entering the housing market at all price points. Signed contracts for single family homes decreased 3.8% versus last year, but increased 37.8% from last quarter. The luxury segment of the market remained consistent year over year with eight sales over $2 million in the second quarter. Confidence in the market combined with appealing inventory have increased the number of high-end buyers.

At Berkshire Hathaway HomeServices New England Properties, our mission is to provide an unparalleled customer service experience throughout all aspects of the home transaction process. If you have any questions regarding this report, Berkshire Hathaway HomeServices New England Properties sales associates are here to help you navigate the current market with expert knowledge and exceptional service.

Candace Adams

President and CEO

2nd Quarter 2014

Prepared by: Candace Adams, President/CEO, Berkshire Hathaway HomeServices New England PropertiesKathryn Redican, Director of Marketing,Berkshire Hathaway HomeServices New England Properties

Rhode Island Market Overview Q2-2014

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0

500

1000

1500

2000

2500

3000

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014

Clo

sed

Sale

s

Single Family Condominium

$0

$100

$200

$300

$400

$500

$600

$700

$800

Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014

Dol

lars

in M

illio

ns

Statewide Sales Volume

Single Family

Condominium

2013 Q2 v 2014 Q2

+0.7%2013 Q2 v 2014 Q2

-13.7%

CLOSEd SALES

HOME PRICES

Average Sales Price Single Family

Average Sales Price Condominium

Median Sales Price Single Family

Median Sales Price Condominium

2014-Q1 $273,500 $223,500 $189,000 $185,000

Change 2.7% -2.8% 14.8% -3.3%

2014-Q2 $280,900 $217,000 $217,000 $178,900

2013-Q2 $265,600 $232,600 $205,000 $200,000

Change 5.8% -6.6% 5.9% --10.6%

2014-Q2 $280,900 $217,300 $217,000 $178,900

SALES vOLuME

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Q2-2014

Bristol County

Kent County

Days on Market sales MeDian sales Price average sales Price Dollar voluMeQTR 22014

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Barrington

1 Family 149 25.5% 79 8.2% $387,500 2.0% $451,600 -1.6% $35,677,000 6.4%

Condo - - - - - - - - - -

Bristol

1 Family 113 1.1% 35 -5.4% $310,500 19.4% $315,800 17.2% $11,054,000 10.9%

Condo 136 -23.8% 22 69.2% $235,500 -25.0% $267,800 -31.7% $5,891,000 15.6%

Warren

1 Family 130 -4.8% 18 -37.9% $208,000 -1.9% $234,700 -3.7% $4,224,000 -40.3%

Condo 111 -59.6% 3 -40.0% $99,900 -64.8% $101,600 -69.0% $305,000 -81.4%

Days on Market sales MeDian sales Price average sales Price Dollar voluMeQTR 22014

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coventry

1 Family 123 -9.1% 102 -1.0% $184,000 11.2% $181,700 3.8% $18,534,000 2.8%

Condo 165 -17.8% 17 183.3% $129,900 7.0% $171,400 46.1% $2,914,000 314.0%

east greenWicH

1 Family 134 -13.4% 55 -35.3% $439,000 17.1% $458,900 6.8% $25,241,000 -30.9%

Condo 157 24.8% 3 -80.0% $350,000 197.9% $315,000 88.1% $945,000 -62.4%

greene

1 Family 137 -34.9% 4 -71.4% $304,000 5.6% $297,100 10.1% $1,188,000 -68.5%

Condo - - - - - - - - - -

WarWick

1 Family 121 6.2% 285 11.3% $173,900 10.1% $189,900 10.0% $54,109,000 22.5%

Condo 116 -4.7% 32 -8.6% $176,300 10.2% $166,000 -5.6% $5,312,000 -13.7%

West greenWicH

1 Family 123 -29.9% 23 64.3% $255,000 -1.5% $259,200 -2.8% $5,961,000 59.7%

Condo - - - - - - - - - -

West WarWick

1 Family 93 -21.2% 65 3.2% $160,000 6.7% $163,600 6.0% $10,633,000 9.4%

Condo 147 6.2% 16 -33.3% $124,500 -7.8% $157,400 5.7% $2,519,000 -29.5%

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT

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Q2-2014

Newport CountyDays on Market sales MeDian sales Price average sales Price Dollar voluMeQTR 22014

%CHg13-14

QTR 22014

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JaMestoWn

1 Family 149 -20.0% 18 -37.9% $413,500 -17.3% $490,800 -27.2% $8,834,000 -54.8%

Condo - - - -100.0% - - - - - -100.0%

little coMPton

1 Family 177 -32.1% 9 -25.0% $455,000 -18.6% $482,900 -37.7% $4,346,000 -53.3%

Condo - - - - - - - - - -

MiDDletoWn

1 Family 80 -42.4% 6 -40.0% $273,800 5.0% $237,600 -48.7% $1,426,000 -69.2%

Condo - - - -100.0% - - - - - -100.0%

neWPort

1 Family 147 -6.0% 47 -2.1% $495,000 27.7% $730,000 30.2% $34,308,000 27.5%

Condo 143 -4.9% 24 -25.0% $248,000 -9.0% $287,100 -6.8% $6,891,000 -30.1%

PortsMoutH

1 Family 154 34.9% 43 53.6% $312,000 -16.4% $405,700 1.7% $17,444,000 56.1%

Condo 106 -59.8% 7 0.0% $250,000 -49.0% $307,000 -25.3% $2,149,000 -25.3%

PruDence islanD

1 Family 221 - 1 - $205,000 - $205,000 - $205,000 -

Condo - - - - - - - - - -

tiverton

1 Family 207 5.1% 57 5.6% $260,000 20.1% $298,000 19.0% $16,984,000 25.6%

Condo 126 -3.9% 3 -40.0% $355,000 119.1% $311,700 19.2% $935,000 -28.5%

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT

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Q2-2014

Providence CountyDays on Market sales MeDian sales Price average sales Price Dollar voluMeQTR 22014

%CHg13-14

QTR 22014

%CHg13-14

QTR 22014

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QTR 22014

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QTR 22014

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alBion

1 Family - - - - - - - - - -

Condo 256 92.1% 2 -50.0% $172,500 1.8% $172,500 -0.9% $345,000 -50.5%

Burrillville

1 Family 84 - 2 - $190,800 - $190,800 - $382,000 -

Condo - - - - - - - - - -

central Falls

1 Family 59 -76.2% 3 -62.5% $35,000 -66.9% $43,300 -65.2% $130,000 -86.9%

Condo - - - - - - - - - -

cHePacHet

1 Family 144 -18.5% 24 14.3% $197,000 -6.2% $221,500 1.2% $5,315,000 15.7%

Condo 284 54.2% 3 200.0% $269,900 0.0% $276,600 2.5% $830,000 207.4%

cranston

1 Family 109 -12.1% 185 -14.4% $185,000 2.9% $211,400 4.3% $39,112,000 -10.6%

Condo 112 -24.8% 17 -10.5% $120,000 1.7% $142,100 2.8% $2,415,000 -8.0%

cuMBerlanD

1 Family 115 -6.9% 92 -8.9% $279,700 21.6% $293,600 16.7% $27,010,000 6.3%

Condo 148 14.4% 20 -35.5% $173,300 -21.9% $184,900 -10.9% $3,698,000 -42.5%

east ProviDence

1 Family 107 -2.3% 34 -15.0% $153,000 -8.7% $152,700 -7.4% $5,193,000 -21.3%

Condo - - - - - - - - - -

Foster

1 Family 92 -49.8% 13 18.2% $235,000 31.8% $236,200 22.9% $3,070,000 45.3%

Condo - - - - - - - - - -

glenDale

1 Family 80 -36.0% 2 100.0% $161,200 3.4% $161,200 3.4% $322,000 106.8%

Condo - - - - - - - - - -

greenville

1 Family 87 -41.7% 17 -26.1% $235,000 3.5% $257,200 -2.1% $4,372,000 -27.6%

Condo 184 -0.5% 3 50.0% $160,000 -5.0% $158,300 -6.0% $475,000 40.9%

Harrisville

1 Family 113 -34.3% 12 -7.7% $215,000 7.5% $229,000 24.5% $2,748,000 14.9%

Condo 171 450.0% 2 100.0% $183,500 66.8% $183,500 66.8% $367,000 233.5%

HoPe

1 Family 113 -11.7% 12 9.1% $372,500 70.8% $345,700 84.1% $4,148,000 100.8%

Condo - - - - - - - - - -

JoHnston

1 Family 149 6.7% 59 -3.3% $158,000 -4.2% $160,800 -10.4% $9,485,000 -13.3%

Condo 75 -36.3% 5 -44.4% $127,500 19.3% $118,900 -17.9% $594,000 -54.4%

lincoln

1 Family 141 12.6% 32 -37.3% $325,500 29.2% $338,500 21.8% $10,833,000 -23.6%

Condo 105 -10.0% 16 220.0% $224,900 41.4% $220,600 25.1% $3,530,000 300.2%

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT

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Q2-2014

Providence CountyDays on Market sales MeDian sales Price average sales Price Dollar voluMeQTR 22014

%CHg13-14

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Manville

1 Family 129 -4.4% 1 -66.7% $270,000 10.7% $270,000 17.2% $270,000 -60.9%

Condo 103 -15.4% 3 50.0% $252,000 181.6% $202,500 126.3% $608,000 239.4%

MaPleville

1 Family 119 -41.7% 5 66.7% $207,000 459.5% $198,000 123.3% $990,000 272.2%

Condo - - - - - - - - - -

nortH ProviDence

1 Family 127 18.0% 78 1.3% $180,000 11.8% $197,900 11.7% $15,438,000 13.1%

Condo 107 -18.2% 32 52.4% $79,000 34.1% $94,000 -7.4% $3,007,000 41.2%

nortH scituate

1 Family 119 -23.3% 18 -30.8% $221,700 -6.4% $240,900 -2.5% $4,336,000 -32.5%

Condo - - - - - - - - - -

nortH sMitHFielD

1 Family 140 14.0% 27 8.0% $201,000 -22.7% $219,700 -20.0% $5,933,000 -13.6%

Condo 202 20.4% 8 -20.0% $289,500 1.6% $289,300 1.9% $2,314,000 -18.5%

oaklanD

1 Family 116 - 2 - $207,500 - $207,500 - $415,000 -

Condo - - - - - - - - - -

Pascoag

1 Family 96 -35.8% 12 9.1% $218,300 23.4% $199,200 2.6% $2,390,000 11.9%

Condo 104 -77.8% 1 0.0% $49,900 116.5% $49,900 116.5% $50,000 116.5%

PaWtucket

1 Family 112 -20.6% 116 -0.9% $149,900 11.1% $160,200 10.7% $18,580,000 9.8%

Condo 174 20.1% 12 100.0% $105,000 18.6% $101,800 -28.0% $1,221,000 43.9%

ProviDence

1 Family 110 -24.4% 168 -18.4% $151,300 13.1% $265,000 3.9% $44,522,000 -15.2%

Condo 119 11.2% 88 -11.1% $235,000 -8.7% $269,600 1.8% $23,720,000 -9.5%

riversiDe

1 Family 123 -12.0% 42 -2.3% $164,000 0.0% $175,400 12.1% $7,368,000 9.5%

Condo 117 1.0% 3 50.0% $101,000 -16.9% $117,000 -3.7% $351,000 44.4%

ruMForD

1 Family 193 26.8% 24 -7.7% $225,000 9.2% $242,400 11.3% $5,817,000 2.7%

Condo 79 -86.2% 2 100.0% $146,500 27.4% $146,500 27.4% $293,000 154.8%

sMitHFielD

1 Family 80 -31.1% 16 -50.0% $222,000 6.7% $298,000 18.2% $4,768,000 -40.9%

Condo 79 -29.3% 12 33.3% $252,500 68.3% $232,600 35.0% $2,791,000 80.0%

Woonsocket

1 Family 159 7.1% 46 48.4% $135,000 -3.6% $144,500 12.5% $6,645,000 67.0%

Condo 123 -16.8% 16 23.1% $83,500 9.9% $89,800 21.9% $1,437,000 50.0%

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT

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Q2-2014

Washington CountyDays on Market sales MeDian sales Price average sales Price Dollar voluMeQTR 22014

%CHg13-14

QTR 22014

%CHg13-14

QTR 22014

%CHg13-14

QTR 22014

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QTR 22014

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asHaWay

1 Family 126 -20.6% 7 -41.7% $195,000 9.9% $201,600 12.5% $1,411,000 -34.4%

Condo - - - - - - - - - -

Block islanD

1 Family 302 103.7% 2 100.0% $845,000 35.2% $845,000 35.2% $1,690,000 170.4%

Condo 64 - 2 - $521,300 - $521,300 - $1,043,000 -

BraDForD

1 Family 107 -39.1% 4 0.0% $252,000 -10.1% $246,500 -8.7% $986,000 -8.7%

Condo - - - - - - - - - -

carolina

1 Family 121 -47.6% 4 300.0% $208,300 98.3% $216,900 106.5% $868,000 726.2%

Condo - - - - - - - - - -

cHarlestoWn

1 Family 117 -35.6% 33 65.0% $352,500 36.9% $441,600 22.1% $14,572,000 101.5%

Condo 62 -84.3% 4 -60.0% $167,300 329.9% $161,400 110.2% $646,000 -15.9%

eXeter

1 Family 129 16.2% 16 33.3% $282,500 -19.5% $324,000 -20.8% $5,185,000 5.6%

Condo 79 -56.6% 1 -66.7% $365,000 5.8% $365,000 18.5% $365,000 -60.5%

HoPe valley

1 Family 122 -38.5% 13 -13.3% $189,000 -5.0% $197,000 5.5% $2,561,000 -8.6%

Condo 267 -71.2% 1 0.0% $420,000 171.1% $420,000 171.1% $420,000 171.1%

HoPkinton

1 Family 353 488.3% 2 -33.3% $200,300 11.9% $200,300 -3.3% $401,000 -35.6%

Condo - - - - - - - - - -

kenyon

1 Family 161 - 1 - $272,000 - $272,000 - $272,000 -

Condo - - - - - - - - - -

kingston

1 Family 171 -35.2% 11 57.1% $315,000 -12.3% $329,200 -0.8% $3,622,000 55.9%

Condo - - - - - - - - - -

narragansett

1 Family 179 -5.3% 50 4.2% $427,100 10.9% $609,100 0.7% $30,455,000 4.9%

Condo 141 28.3% 14 -12.5% $292,500 -18.6% $303,000 -23.3% $4,243,000 -32.9%

nortH kingstoWn

1 Family 127 3.5% 65 -3.0% $305,000 10.9% $325,800 11.7% $21,178,000 8.3%

Condo 152 -36.4% 11 -31.3% $151,000 -51.0% $242,000 -33.3% $2,663,000 -54.2%

ricHMonD

1 Family 56 - 1 - $195,000 - $195,000 - $195,000 -

Condo - - - - - - - - - -

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT

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Q2-2014

Washington CountyDays on Market sales MeDian sales Price average sales Price Dollar voluMeQTR 22014

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QTR 22014

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QTR 22014

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QTR 22014

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QTR 22014

%CHg13-14

saunDerstoWn

1 Family 109 -5.7% 22 -15.4% $378,800 0.3% $398,500 -6.7% $8,767,000 -21.1%

Condo - - - - - - - - - -

sHannock

1 Family 147 -47.9% 2 100.0% $253,800 15.3% $253,800 15.3% $508,000 130.7%

Condo - - - - - - - - - -

WakeFielD

1 Family 128 -24.3% 75 -21.1% $283,000 1.1% $317,700 6.7% $23,825,000 -15.8%

Condo 410 185.8% 11 -50.0% $289,000 -0.3% $271,500 -11.9% $2,987,000 -55.9%

West kingston

1 Family 107 -17.2% 14 7.7% $287,500 -10.9% $274,900 -15.5% $3,848,000 -9.0%

Condo - - - - - - - - - -

Westerly

1 Family 160 -7.8% 68 30.8% $326,000 19.6% $588,100 20.8% $39,994,000 58.0%

Condo 137 -39.0% 14 -22.2% $226,300 -16.2% $370,500 26.9% $5,187,000 -1.3%

WyoMing

1 Family 96 -18.2% 3 -25.0% $299,000 40.7% $278,300 25.4% $835,000 -6.0%

Condo - - - - - - - - - -

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT