The Rhode Island Association of Realtors released their third quarter statistics last week, and to no surprise, distressed home sales are driving the market. More than 1 in 4 single-family houses sold in the third quarter were foreclosures or short sales. More than half of all the distressed sales were in Pawtucket, Providence, Cranston and Warwick, with double-digit price declines in these communities. Foreclosures and short-sales drove down the median prices 18% from last year to $230,000, excluding these distressed sales, the statewide median price of houses sold during the third quarter was $268,500. Read the Full article posted by Sally Lapides on Real Estate Insight.Foreclosures Driving 3rd Quarter Sales in RI
- By Michael McCann
- Posted
The Rhode Island Association of Realtors released their third quarter statistics last week, and to no surprise, distressed home sales are driving the market. More than 1 in 4 single-family houses sold in the third quarter were foreclosures or short sales. More than half of all the distressed sales were in Pawtucket, Providence, Cranston and Warwick, with double-digit price declines in these communities. Foreclosures and short-sales drove down the median prices 18% from last year to $230,000, excluding these distressed sales, the statewide median price of houses sold during the third quarter was $268,500. Read the Full article posted by Sally Lapides on Real Estate Insight.
