BHHS New England Properties 2015 Q4 Rhode Island Market Report

Fourth Quarter 2015Rhode Island Market Report

bhhsNEproperties.com Ri maRket RepoRt • 2

Q4-2015

Executive summary

Welcome to Berkshire Hathaway HomeServices New England Properties’ Fourth Quarter 2015 Rhode Island Market Report, our examination of the single family and condominium markets throughout the counties of Bristol, Kent, Newport, Providence and Washington.

Statewide, single family home sales and prices showed some gains in 2015 with a 9.15% increase in sales year over year. Average prices went up 1.26% and sales volume went up 9.28% year over year. Days on market were an average 122 days, a decrease of 4.92%. Condominium sales also showed some gains with 1,621 closings, up 2.57% year over year and average prices went up 5.67%. Days on market for condominiums decreased 5.34% year over year. Sales in the $1 - $3 million range made up the majority of luxury sales in 2015. Overall luxury sales were up slightly in 2015 compared to 2014 (191 vs 171).

2015 was a solid year for the housing market. As the market continues to gain momentum in 2016; buyers and sellers will continue to ride the wave of value priced homes. Closed sales increased for single family homes (9.29%), and increased for condominiums (2.57%) year over year. The long anticipated interest rate increase is not predicted to have a large impact on home-buying activity in the year to come. Buyers will still be able to take advantage of lower prices homes and the increase in inventory in the coming months as well as the historically low interest rates.

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 Realtors® are here to help you navigate the current market with expert knowledge and exceptional service.

Candace Adams

President/CEO

4th Quarter 2015

Prepared by:

Candace Adams, President/CEO, [email protected] Redican, Director of Marketing, [email protected]

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Rhode Island Market Overview Q4-2015


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Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015

Stat

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Single Family CondominiumClOSED SAlES

HOME PRICES

Average Sales Price Single Family

Average Sales Price Condominium

Median Sales Price Single Family

Median Sales Price Condominium

Q3 2015 $301,200 $242,000 $232,500 $200,000

Change -6.2% -0.5% -3.3% -2.5%

Q4 2015 $282,400 $243,200 $224,900 $195,000

Q4 2014 $282,400 $230,500 $215,000 $189,000

Change 0.0% 5.5% 4.6% 2.7%

Q4 2015 $282,400 $243,200 $224,900 $195,000

SAlES vOluME

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Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015

Statewide Sales Volume

Single Family

Condominium

+9.28%Q4 2015 vs Q4 2014

+8.14%

Q4 2015 vs Q4 2014


Q4-2015

Bristol County

Kent CountyAVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuME

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CoVENtRy

1 Family $231,200 30.2% $233,500 29.7% 130 42.9% 119 -0.7% $30,052,000 85.9%

Condo $212,500 -2.4% $218,900 -2.9% 12 20.0% 157 32.0% $2,550,000 17.1%

EASt GREENWICH

1 Family $377,300 4.4% $371,500 14.2% 54 -15.6% 121 -2.7% $20,372,000 -11.9%

Condo $323,800 51.9% $287,500 77.5% 7 -36.4% 89 -29.3% $2,267,000 -3.3%

GREENE

1 Family $227,800 -12.9% $223,300 -10.7% 12 71.4% 134 26.2% $2,734,000 49.2%

Condo - - - - - - - - - -

WARWICk

1 Family $189,400 2.6% $174,900 6.0% 255 0.8% 105 -7.1% $48,306,000 3.4%

Condo $194,800 27.2% $146,000 8.6% 29 26.1% 98 -3.0% $5,648,000 60.4%

WESt GREENWICH

1 Family $282,200 0.5% $251,000 -11.9% 18 12.5% 155 5.0% $5,080,000 13.1%

Condo - - - - - - - - - -

WESt WARWICk

1 Family $173,900 4.6% $164,500 -4.1% 77 54.0% 108 -19.6% $13,388,000 61.1%

Condo $139,200 2.6% $140,500 6.4% 20 33.3% 105 -33.4% $2,785,000 36.8%

AVERAGE SALES PRICE MEDIAN SALES PRICE SALES DAyS oN MARkEt DoLLAR VoLuMEQTR 42015

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BARRINGtoN

1 Family $466,700 0.4% $430,000 13.0% 64 39.1% 137 1.2% $29,872,000 39.6%

Condo - - - - - - - - - -

BRIStoL

1 Family $366,500 2.9% $289,000 -10.4% 29 -27.5% 123 6.0% $10,629,000 -25.4%

Condo $296,400 -2.5% $296,000 14.7% 11 -47.6% 315 115.3% $3,260,000 -48.9%

PRuDENCE ISLAND

1 Family $240,000 - $240,000 - 2 - 304 - $480,000 -

Condo - - - - - - - - - -

WARREN

1 Family $263,800 8.5% $295,000 31.4% 21 31.3% 124 -15.4% $5,540,000 42.4%

Condo $414,000 55.9% $439,500 65.5% 6 200.0% 227 24.9% $2,484,000 367.8%

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT

KENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT



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JAMEStoWN

1 Family $751,700 -1.9% $629,000 31.0% 23 9.5% 174 -10.0% $17,288,000 7.4%

Condo $793,800 36.1% $793,800 41.7% 2 -33.3% 265 151.6% $1,588,000 -9.3%

LIttLE CoMPtoN

1 Family $530,800 -37.9% $409,000 -49.0% 14 40.0% 220 21.3% $7,431,000 -13.0%

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

MIDDLEtoWN

1 Family $406,300 -25.4% $315,000 -16.2% 31 3.3% 128 -10.5% $12,596,000 -22.9%

Condo $236,400 -21.5% $223,500 -25.0% 5 -16.7% 145 12.4% $1,182,000 -34.6%

NEWPoRt

1 Family $486,000 -41.0% $432,500 23.6% 39 -26.4% 114 -29.0% $18,953,000 -56.6%

Condo $499,300 32.2% $289,000 32.6% 21 -4.5% 129 0.4% $10,486,000 26.1%

PoRtSMoutH

1 Family $431,900 10.5% $325,000 7.3% 49 0.0% 133 -14.3% $21,164,000 10.5%

Condo $338,800 -15.7% $276,000 -28.5% 17 6.3% 152 -32.5% $5,760,000 -10.4%

tIVERtoN

1 Family $238,100 -8.3% $212,500 -5.6% 60 11.1% 127 -21.6% $14,288,000 1.9%

Condo $386,600 28.7% $249,900 67.7% 3 -40.0% 159 0.8% $1,160,000 -22.8%

Newport CountyKENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT



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ALBIoN

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

Condo $195,000 14.9% $195,000 11.4% 1 -66.7% 219 51.7% $195,000 -61.7%

BuRRILLVILLE

1 Family $239,900 - $239,900 - 1 - 117 - $240,000 -

Condo - - - - - - - - - -

CENtRAL FALLS

1 Family $98,300 -17.7% $115,000 -0.6% 3 -50.0% 160 41.6% $295,000 -58.8%

Condo $80,000 60.0% $80,000 60.0% 1 0.0% 139 265.8% $80,000 60.0%

CHEPACHEt

1 Family $189,300 -11.5% $205,000 -7.9% 25 -21.9% 100 -3.2% $4,731,000 -30.8%

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

CLAyVILLE

1 Family $135,000 -4.6% $135,000 -4.6% 1 0.0% 151 25.8% $135,000 -4.6%

Condo - - - - - - - - - -

CRANStoN

1 Family $220,600 1.9% $198,300 0.9% 208 6.7% 100 -0.2% $45,882,000 8.7%

Condo $193,900 0.4% $183,000 3.2% 21 -12.5% 127 -22.0% $4,072,000 -12.2%

CuMBERLAND

1 Family $291,200 2.8% $274,000 0.2% 127 32.3% 117 -2.6% $36,988,000 35.9%

Condo $228,200 23.1% $240,000 35.6% 28 75.0% 131 10.7% $6,390,000 115.4%

EASt PRoVIDENCE

1 Family $167,600 5.6% $171,500 6.5% 48 26.3% 108 -13.5% $8,045,000 33.4%

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

FoStER

1 Family $251,600 17.6% $250,000 26.6% 14 133.3% 102 -52.3% $3,523,000 174.4%

Condo - - - - - - - - - -

GLENDALE

1 Family $215,000 -17.5% $215,000 -17.5% 1 -50.0% 57 -67.8% $215,000 -58.7%

Condo - - - - - - - - - -

GREENVILLE

1 Family $278,500 18.6% $259,000 7.9% 26 23.8% 98 4.8% $7,240,000 46.9%

Condo $107,500 -27.5% $107,500 -34.8% 2 -60.0% 204 161.5% $215,000 -71.0%

HARRISVILLE

1 Family $265,900 -21.3% $248,500 9.2% 14 16.7% 75 -40.8% $3,723,000 -8.2%

Condo $112,500 -22.8% $112,500 0.4% 4 33.3% 79 -47.2% $450,000 3.0%

HoPE

1 Family $336,300 30.6% $350,000 24.0% 13 -27.8% 125 -13.7% $4,371,000 -5.7%

Condo - - - - - - - - - -

JoHNStoN

1 Family $200,100 9.5% $191,000 9.1% 79 -7.1% 118 -4.6% $15,809,000 1.8%

Condo $110,800 15.1% $126,500 33.2% 7 16.7% 98 -1.6% $775,000 34.3%

Providence CountyKENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT



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LINCoLN

1 Family $336,200 28.8% $280,000 21.9% 35 -16.7% 102 -14.7% $11,765,000 7.3%

Condo $222,500 -2.6% $195,000 -22.0% 9 -71.0% 145 30.4% $2,003,000 -71.7%

MANVILLE

1 Family $163,300 -45.6% $170,000 -43.4% 3 50.0% 422 316.1% $490,000 -18.5%

Condo $128,500 -43.5% $128,500 -50.7% 2 -33.3% 121 -41.9% $257,000 -62.4%

MAPLEVILLE

1 Family $178,800 10.7% $216,000 29.3% 7 75.0% 91 -34.1% $1,251,000 93.7%

Condo - - - - - - - - - -

NoRtH PRoVIDENCE

1 Family $196,000 7.4% $190,000 9.7% 85 28.8% 103 -4.2% $16,660,000 38.3%

Condo $127,800 50.1% $130,000 108.0% 29 61.1% 109 14.0% $3,707,000 141.8%

NoRtH SCItuAtE

1 Family $254,000 2.7% $265,000 19.1% 35 66.7% 117 -13.3% $8,891,000 71.2%

Condo - - - - - - - - - -

NoRtH SMItHFIELD

1 Family $264,300 2.8% $263,000 8.9% 27 12.5% 123 -18.6% $7,136,000 15.6%

Condo $288,600 3.6% $275,500 1.3% 13 85.7% 272 7.9% $3,752,000 92.4%

PASCoAG

1 Family $214,500 1.6% $210,500 10.8% 20 53.8% 100 -4.1% $4,290,000 56.3%

Condo - - - - - - - - - -

PAWtuCkEt

1 Family $172,100 8.2% $168,000 9.8% 103 -5.5% 107 -19.7% $17,731,000 2.3%

Condo $168,100 80.8% $135,500 108.5% 11 22.2% 149 -23.4% $1,850,000 121.0%

PRoVIDENCE

1 Family $247,300 2.5% $155,000 1.6% 176 16.6% 118 -13.9% $43,522,000 19.5%

Condo $220,300 -14.3% $182,500 -1.4% 58 23.4% 139 28.5% $12,775,000 5.7%

RIVERSIDE

1 Family $184,600 -5.6% $188,000 9.3% 61 48.8% 102 -17.8% $11,260,000 40.4%

Condo $110,000 - $110,000 - 1 - 44 - $110,000 -

RuMFoRD

1 Family $270,800 29.4% $261,500 38.5% 14 -41.7% 120 -23.9% $3,791,000 -24.5%

Condo $135,000 -18.2% $135,000 -18.2% 1 0.0% 28 -42.9% $135,000 -18.2%

SLAtERSVILLE

1 Family $70,000 -71.3% $70,000 -71.3% 1 0.0% 241 24.2% $70,000 -71.3%

Condo - - - - - - - - - -

SMItHFIELD

1 Family $258,700 -12.5% $260,000 4.0% 27 -3.6% 103 1.7% $6,986,000 -15.6%

Condo $197,800 -4.5% $155,000 1.9% 11 10.0% 83 -40.1% $2,176,000 5.1%

WooNSoCkEt

1 Family $131,000 -5.9% $133,000 -5.0% 54 10.2% 138 21.1% $7,075,000 3.7%

Condo $89,300 4.9% $100,000 21.2% 9 0.0% 148 -20.8% $803,000 4.9%

Providence CountyKENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT



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ASHAWAy

1 Family $188,300 -16.8% $194,000 -8.4% 13 44.4% 117 5.1% $2,448,000 20.2%

Condo - - - - - - - - - -

BLoCk ISLAND

1 Family $1,260,000 0.4% $1,155,000 0.4% 4 0.0% 540 15.6% $5,040,000 0.4%

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

BRADFoRD

1 Family $286,100 20.8% $218,000 -9.4% 7 75.0% 94 -68.1% $2,003,000 111.5%

Condo - - - - - - - - - -

CARoLINA

1 Family $152,500 -44.7% $152,500 -46.5% 2 -60.0% 126 6.6% $305,000 -77.9%

Condo - - - - - - - - - -

CHARLEStoWN

1 Family $709,800 88.8% $355,000 16.8% 31 -11.4% 134 -27.6% $22,005,000 67.2%

Condo $125,500 2.3% $128,500 19.0% 6 100.0% 157 35.2% $753,000 104.6%

EXEtER

1 Family $311,900 22.6% $280,000 12.9% 9 -57.1% 111 -11.0% $2,808,000 -47.5%

Condo - - - - - - - - - -

HoPE VALLEy

1 Family $256,600 14.4% $274,000 19.1% 11 57.1% 135 -25.0% $2,823,000 79.7%

Condo $165,000 9.6% $155,000 3.0% 3 50.0% 211 -17.1% $495,000 64.5%

HoPkINtoN

1 Family $205,000 - $205,000 - 1 - 128 - $205,000 -

Condo - - - - - - - - - -

kINGStoN

1 Family $318,700 -4.1% $310,000 3.7% 12 71.4% 95 -21.5% $3,824,000 64.4%

Condo - - - - - - - - - -

NARRAGANSEtt

1 Family $546,100 6.4% $407,500 -2.5% 57 14.0% 133 -2.0% $31,129,000 21.3%

Condo $461,100 17.5% $363,800 -4.3% 12 140.0% 129 -39.6% $5,534,000 182.1%

NoRtH kINGStoWN

1 Family $375,100 22.9% $312,400 15.7% 74 17.5% 111 10.2% $27,760,000 44.4%

Condo $301,300 35.5% $325,000 100.0% 13 -7.1% 149 -20.4% $3,917,000 25.9%

RoCkVILLE

1 Family $438,800 125.0% $438,800 125.0% 2 0.0% 145 -2.7% $878,000 125.0%

Condo - - - - - - - - - -

SAuNDERStoWN

1 Family $573,700 55.8% $391,000 35.8% 26 136.4% 121 6.6% $14,916,000 268.2%

Condo $309,000 -0.6% $309,000 -0.6% 1 -50.0% 68 -37.3% $309,000 -50.3%

Washington CountyKENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT



Q4-2015

Washington CountyKENT

WASHINGTON

PROVIDENCE

BRISTOL

NEWPORT

Information here-in is based in whole or part on reports supplied by Collateral Analytics and area Multiple listing Services (MlS), for residential property transactions as of December 31st, 2015, and is being provided “as is.” Data maintained by an MlS may not reflect all real estate activity in the market. It is deemed reliable but not guaranteed.


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WAkEFIELD

1 Family $351,400 -7.2% $278,000 -14.5% 75 -19.4% 147 1.9% $26,354,000 -25.2%

Condo $358,800 23.2% $365,000 54.5% 13 -7.1% 119 -47.0% $4,665,000 14.4%

WESt kINGStoN

1 Family $301,900 24.2% $306,500 27.7% 29 70.6% 144 -22.1% $8,754,000 111.9%

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

WEStERLy

1 Family $398,200 -12.8% $305,500 1.0% 61 -16.4% 157 5.6% $24,290,000 -27.1%

Condo $246,200 4.5% $201,000 5.4% 10 -28.6% 111 -8.5% $2,462,000 -25.4%

WooD RIVER JuNCtIoN

1 Family - - - - - -100.0% - - - -100.0%

Condo - - - - - - - - - -

WyoMING

1 Family $299,600 26.7% $250,000 8.7% 7 40.0% 124 43.9% $2,097,000 77.4%

Condo - - - - - - - - - -


BHHS New England Properties 2015 Q4 Rhode Island Market Report

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