State of Rhode Island and Providence Plantations Rhode Island
Rhode Island Real Estate Market Report
14
First Quarter - 2015 Market Report Executive Summary Spring has officially sprung and the Rhode Island housing market is off to a great start! Across the state the number of homes sold this first quarter increased 10%. Newport and Kent counties also saw an increase in the number of homes sold, while Bristol county had a whopping 70% increase in the number of homes sold in Q1 2015 versus Q1 2014. This greater demand for housing decreased the average days on market in many areas, most notably in Newport (10%), Westerly (10%) and the East Side of Providence (16%). In the luxury market, properties priced $750K and above, the number of available properties on the market decreased 11% and the number of pending sales increased 7%.
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First Quarter 2015
Transcript of Rhode Island Real Estate Market Report
First Quarter - 2015Market Report
Executive SummarySpring has officially sprung and the Rhode Island housing market is off to a great start!
Across the state the number of homes sold this first quarter increased 10%. Newport and Kent counties also saw an increase in the number of homes sold, while Bristol county had a whopping 70% increase in the number of homes sold in Q1 2015 versus Q1 2014. This greater demand for housing decreased the average days on market in many areas, most notably in Newport (10%), Westerly (10%) and the East Side of Providence (16%).
In the luxury market, properties priced $750K and above, the number of available properties on the market decreased 11% and the number of pending sales increased 7%.
Rhode Island Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 1,499 1,643 10% 1,499 1,643 10% AVERAGE SALE PRICE $290,868 $275,151 5% $290,868 $275,151 5% MEDIAN SALE PRICE $196,000 $202,490 3% $196,000 $202,490 3%
AVERAGE DOM 101 103 2% 101 103 2% % SALE TO LIST PRICE 94% 95% 1% 94% 95% 1%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 4,393 1,210 4 3,836 1,261 3 $250,000 - $500,000 2,874 580 5 2,675 621 4 $500,000 - $750,000 727 114 6 641 95 7 $750,000 - $1,000,000 316 33 10 275 40 7 $1,000,000 - $2,000,000 298 18 17 295 29 10 $2,000,000 - $5,000,000 182 18 10 148 7 21 $5,000,000 and up 28 2 14 19 0 N/A Market Total 8,818 1,975 4 7,889 2,053 4
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $414,966 $422,796 $434,410 $379,631 $309,118 $329,368 $326,435 $333,754 $269,949 $286,488
Days on Market 75 89 98 104 108 101 109 108 92 87
% Sale Price to
List Price 95.8 95.8 93.9 93.4 92.7 92.4 92.1 92.7 94.6 94.9
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Av. Sale Price
DOM
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Newport County Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 144 149 3% 144 149 3% AVERAGE SALE PRICE $610,124 $498,799 18% $610,124 $498,799 18% MEDIAN SALE PRICE $312,500 $347,000 11% $312,500 $347,000 11%
AVERAGE DOM 145 160 10% 145 160 10% % SALE TO LIST PRICE 91% 93% 2% 91% 93% 2%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 210 58 4 141 39 4 $250,000 - $500,000 382 76 5 377 88 4 $500,000 - $750,000 154 25 6 160 27 6 $750,000 - $1,000,000 81 11 7 65 10 7 $1,000,000 - $2,000,000 76 4 19 75 13 6 $2,000,000 - $5,000,000 88 13 7 59 3 20 $5,000,000 and up 19 1 19 16 0 N/A Market Total 1,010 188 5 893 180 5
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $562,745 $591,833 $662,348 $565,318 $448,523 $489,019 $508,967 $540,348 $473,297 $535,292
Days on Market 96 106 119 123 130 129 150 151 142 143
% Sale Price to
List Price 94.3 93.7 93.6 91.7 89.3 91.3 90.9 92.3 92 93.1
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Washington County Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 260 271 4% 260 271 4% AVERAGE SALE PRICE $450,500 $407,367 10% $450,500 $407,367 10% MEDIAN SALE PRICE $310,000 $284,000 8% $310,000 $284,000 8%
AVERAGE DOM 141 151 7% 141 151 7% % SALE TO LIST PRICE 92% 98% 7% 92% 98% 7%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 447 101 4 377 107 4 $250,000 - $500,000 753 148 5 662 162 4 $500,000 - $750,000 232 36 6 195 28 7 $750,000 - $1,000,000 112 7 16 93 14 7 $1,000,000 - $2,000,000 139 10 14 128 6 21 $2,000,000 - $5,000,000 56 5 11 48 1 48 $5,000,000 and up 6 0 N/A 1 0 N/A Market Total 1,745 307 6 1,504 318 5
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price
$459,224 $473,068 $451,686 $436,509 $351,124 $383,789 $377,122 $415,679 $392,460 $400,017
Days on Market 80 97 107 111 112 112 113 117 117 111
% Sale Price to
List Price 95.2 98.1 89.6 92.6 92.4 92.0 91.9 92.0 93.7 93.4
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Providence County Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 721 743 3% 721 743 3% AVERAGE SALE PRICE $196,897 $201,868 3% $196,897 $201,868 3% MEDIAN SALE PRICE $162,000 $176,200 9% $162,000 $176,200 9%
AVERAGE DOM 81 77 5% 81 77 5% % SALE TO LIST PRICE 96% 95% 1% 96% 95% 1%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 2,413 668 4 2,151 710 3 $250,000 - $500,000 841 178 5 836 197 4 $500,000 - $750,000 149 22 7 104 12 9 $750,000 - $1,000,000 34 3 11 44 5 9 $1,000,000 - $2,000,000 20 1 20 26 2 13 $2,000,000 - $5,000,000 9 0 N/A 8 0 N/A $5,000,000 and up 0 0 N/A 0 0 N/A Market Total 3,466 872 4 3,169 926 3
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $295,505 $296,675 $283,043 $237,389 $182,516 $210,629 $194,388 $192,094 $204,161 $215,085
Days on Market 59 74 81 89 90 80 91 92 79 71
% Sale Price to
List Price 97.1 96.5 95.6 94.6 94.3 94.7 94.5 94.4 95.7 96.3
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Bristol County Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 56 95 70% 56 95 70% AVERAGE SALE PRICE $462,830 $390,036 16% $462,830 $390,036 16% MEDIAN SALE PRICE $334,500 $285,000 15% $334,500 $285,000 15%
AVERAGE DOM 105 127 21% 105 127 21% % SALE TO LIST PRICE 95% 94% 1% 95% 94% 1%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 185 49 4 155 49 3 $250,000 - $500,000 456 75 6 367 94 4 $500,000 - $750,000 106 18 6 111 19 6 $750,000 - $1,000,000 47 6 8 36 5 7 $1,000,000 - $2,000,000 37 2 19 40 5 8 $2,000,000 - $5,000,000 23 0 N/A 27 3 9 $5,000,000 and up 3 1 3 2 0 N/A Market Total 857 151 6 738 175 4
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Average Sale Price $465,290 $452,418 $486,501 $418,182 $362,096 $350,232 $352,537 $325,240 $376,377 $415,102
Days on Market 88 96 106 110 121 105 108 104 105 99
% Sale Price to
List Price 95 94.7 94.6 93.7 92.7 89.3 88.8 89.8 94.6 95.0
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Kent County Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 327 377 15% 327 377 15% AVERAGE SALE PRICE $200,920 $208,681 4% $200,920 $208,681 4% MEDIAN SALE PRICE $170,000 $170,000 0% $170,000 $170,000 0%
AVERAGE DOM 85 91 7% 85 91 7% % SALE TO LIST PRICE 95% 96% 1% 95% 96% 1%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 1,138 334 3 1,012 356 3 $250,000 - $500,000 442 103 4 433 80 5 $500,000 - $750,000 86 13 7 71 9 8 $750,000 - $1,000,000 42 6 7 37 6 6 $1,000,000 - $2,000,000 26 1 26 26 3 9 $2,000,000 - $5,000,000 6 0 N/A 6 0 N/A $5,000,000 and up 0 0 N/A 0 0 N/A Market Total 1,740 457 4 1,585 454 3
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price
$292,064 $299,988 $288,473 $240,757 $201,329 $213,170 $199,162 $195,407 $212,893 $214,188
Days on Market 54 70 76 85 85 77 85 78 80 75
% Sale Price to
List Price 97.6 96.3 96.2 94.8 95.0 94.9 94.4 95.2 96 96.1
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Newport Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 38 41 8% 38 41 8% AVERAGE SALE PRICE $855,861 $725,345 15% $855,861 $725,345 15% MEDIAN SALE PRICE $450,000 $390,000 13% $450,000 $390,000 13%
AVERAGE DOM 189 170 10% 189 170 10% % SALE TO LIST PRICE 89% 91% 2% 89% 91% 2%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 21 6 4 9 3 3 $250,000 - $500,000 71 15 5 82 22 4 $500,000 - $750,000 30 7 4 33 6 6 $750,000 - $1,000,000 20 6 3 17 4 4 $1,000,000 - $2,000,000 17 1 17 19 6 3 $2,000,000 - $5,000,000 23 6 4 13 2 7 $5,000,000 and up 7 0 N/A 7 0 N/A Market Total 189 41 5 180 43 4
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $716,878 $703,720 $724090 $648,709 $566,218 $658,372 $570,117 $835,059 $571,608 $810,168
Days on Market 101 123 113 143 143 133 160 162+ 130 144
% Sale Price to
List Price 92.6 93.8 92.9 90.2 84.7 88.9 91.0 94.5 92.5 91.8
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Narragansett Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 38 24 36% 38 24 36% AVERAGE SALE PRICE $418,340 $477,354 14% $418,340 $477,354 14% MEDIAN SALE PRICE $345,500 $385,500 12% $345,500 $385,500 12%
AVERAGE DOM 110 136 24% 110 136 24% % SALE TO LIST PRICE 94% 96% 2% 94% 96% 2%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 17 6 3 9 4 2 $250,000 - $500,000 106 20 5 91 19 5 $500,000 - $750,000 46 8 6 41 10 4 $750,000 - $1,000,000 25 3 8 21 3 7 $1,000,000 - $2,000,000 13 2 7 12 0 N/A $2,000,000 - $5,000,000 15 2 8 12 0 N/A $5,000,000 and up 2 0 N/A 0 0 N/A Market Total 224 41 5 186 36 5
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $578,643 $574,506 $491,788 $533,271 $391,910 $533,508 $477,349 $529,761 $494,765 $481,581
Days on Market 79 114 123 125 124 135 139 141 120 110
% Sale Price to
List Price 95.4 92.2 93.1 91.3 92.3 92.2 91.0 88.2 92.5 94.4
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
East Side of Providence Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 30 22 27% 30 22 27% AVERAGE SALE PRICE $511,358 $471,205 8% $511,358 $471,205 8% MEDIAN SALE PRICE $495,625 $398,500 20% $495,625 $398,500 20%
AVERAGE DOM 97 81 16% 97 81 16% % SALE TO LIST PRICE 95% 97% 2% 95% 97% 2%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 16 5 3 7 2 4 $250,000 - $500,000 44 13 3 39 20 2 $500,000 - $750,000 34 9 4 17 4 4 $750,000 - $1,000,000 10 0 N/A 15 4 4 $1,000,000 - $2,000,000 11 1 11 16 0 N/A $2,000,000 - $5,000,000 3 0 N/A 5 0 N/A $5,000,000 and up 0 0 N/A 0 0 N/A Market Total 118 28 4 99 30 3
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $578,834 $600,197 $575,976 $592,702 $506,981 $507,147 $480,436 $521,866 $523,969 $536,076
Days on Market 64 70 67 83 82 79 85 102 84 76
% Sale Price to
List Price 95.6 95.3 94.5 95.5 93.5 94.5 94.1 93.4 95.5 95.8
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Jamestown Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 14 9 35% 14 9 35% AVERAGE SALE PRICE $917,964 $656,702 28% $917,964 $656,702 28% MEDIAN SALE PRICE $507,500 $597,000 17% $507,500 $597,000 17%
AVERAGE DOM 162 217 34% 162 217 34% % SALE TO LIST PRICE 92% 102% 11% 92% 102% 11% SUPPLY/DEMAND SNAPSHOT
Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 1 0 N/A 0 0 N/A $250,000 - $500,000 34 12 3 31 4 8 $500,000 - $750,000 15 2 8 28 3 9 $750,000 - $1,000,000 9 2 5 11 4 3 $1,000,000 - $2,000,000 9 0 N/A 12 1 12 $2,000,000 - $5,000,000 22 2 11 16 1 16 $5,000,000 and up 6 0 N/A 6 0 N/A Market Total 96 18 5 104 13 8
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $844,450 $820,028 $1,051,125 $1,114,325 $863,452 $751,075 $733,908 $669,222 $726,834 $719,975
Days on Market 109 126 140 125 159 148 196 197 148 155
% Sale Price to
List Price 94.0 92.9 92.8 94.2 91.9 92.0 91.3 91.8 92.6 93.6
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2004
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Westerly Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 47 46 2% 47 46 2% AVERAGE SALE PRICE $579,399 $558,109 4% $579,399 $558,109 4% MEDIAN SALE PRICE $282,000 $299,700 6% $282,000 $299,700 6%
AVERAGE DOM 166 149 10% 166 149 10% % SALE TO LIST PRICE 92% 93% 1% 92% 93% 1%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$0 - $250,000 91 18 5 55 15 4 $250,000 - $500,000 132 23 6 122 29 4 $500,000 - $750,000 48 8 6 42 3 14 $750,000 - $1,000,000 22 2 11 18 1 18 $1,000,000 - $2,000,000 29 0 N/A 28 2 14 $2,000,000 - $5,000,000 19 1 19 16 1 16 $5,000,000 and up 4 0 N/A 0 0 N/A Market Total 341 52 7 281 51 6
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $480,102 $580,597 $543,149 $511,132 $422,925 $391,002 $468,075 $584,259 $520,480 $502,637
Days on Market 93 109 124 128 134 124 120 147 135 119
% Sale Price to
List Price 93.1 92.3 91.4 91.9 89.1 88.7 88.8 91.4 91.8 90.0
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Block Island Single-Family Homes – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 8 6 25% 8 6 25% AVERAGE SALE PRICE $1,455,562 $1,210,000 17% $1,455,562 $1,210,000 17% MEDIAN SALE PRICE $1,162,500 $1,225,000 5% $1,162,500 $1,225,000 5%
AVERAGE DOM 610 661 8% 610 661 8% % SALE TO LIST PRICE 86% 92% 7% 86% 92% 7%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active Listings
Pending Listings
$0 - $250,000 0 0 N/A 0 0 N/A $250,000 - $500,000 0 0 N/A 0 0 N/A $500,000 - $750,000 6 1 6 2 0 N/A $750,000 - $1,000,000 12 0 N/A 11 2 6 $1,000,000 - $2,000,000 43 3 14 33 1 33 $2,000,000 - $5,000,000 9 2 5 5 0 N/A $5,000,000 and up 0 0 N/A 1 0 N/A Market Total 70 6 12 52 3 17
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Average
Sale Price $578,834 $600,197 $575,976 $592,702 $506,981 $507,147 $480,436 $521,866 $1,433,522 $1,281,081
Days on Market 64 70 67 83 82 79 85 102 291 359
% Sale Price to
List Price 95.6 95.3 94.5 95.5 93.5 94.5 94.1 93.4 88 87.9
0
5
10
15
20
25
30
35
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Median Sale Price
# Of Homes Sold
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
Rhode Island Luxury Single-Family Homes (750K+) – Q1 2014 v Q1 2015
OVERVIEW
Q1 2014 Q1 2015 % CHANGE YTD 2014 YTD 2015 % CHANGE
HOMES SOLD 76 61 19% 76 61 19% AVERAGE SALE PRICE $1,580,762 $1,382,082 12% $1,580,762 $1,382,082 12% MEDIAN SALE PRICE $1,147,500 $1,005,000 12% $1,147,500 $1,005,000 12%
AVERAGE DOM 212 241 14% 212 241 14% % SALE TO LIST PRICE 91% 91% 0% 91% 91% 0%
SUPPLY/DEMAND SNAPSHOT Q1 2014 Q1 2015
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active
Listings Pending Listings Active
Listings Pending Listings
$750,000 - $1,000,000 316 33 10 275 40 7 $1,000,000 - $2,000,000 298 18 17 295 29 10 $2,000,000 - $5,000,000 182 18 10 148 7 21 $5,000,000 and up 28 2 14 19 0 N/A Market Total 824 71 12 737 76 10
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Av. Sale
Price $1,751,252 $1,842,918 $2,014,631 $1,963,550 $1,868,310 $1,865,684 $2,095,917 $2,164,867 $1,342,308 $1,393,929
Days on Market 142 156 151 145 175 170 184 191 175 175
% Sale Price to
List Price 90.4 90.1 91.5 90.1 84.8 80.0 79.9 83.7 90.4 90.8
0
50
100
150
200
250
300
350
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 $0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
Average Sale Price
DOM
This representation is based in whole or in part on data supplied by the State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide Multiple Listing Service, Inc. for the period of (1/1/15) through (3/31/15).
