.

East Providence Home Sales Beat State Average

Sales were up 13 percent and prices were up 16 percent.

It's great to be able to report some good news on the local housing front as both the number of sales and median sales price rose this October, year over year.  Sales were up 13 percent and prices were up 16 percent.  These figures outpace the state overall as Rhode Island saw a 6 percent rise in unit sales and experienced a 17 percent drop in median sale price.  

This coincides with the activity level locally over the last two months as the number of appointments to view homes have escalated and we are now beginning to see the results in the sales figures. As long as activity continues to be strong we should see a corresponding elevation in sales figures into 2012, barring any external influences such as a hike in interest rates or less than stellar job numbers.

Another factor I've personally experienced in the field is buyer restlessness. Many potential buyers have indicated that they have been wanting to purchase for at least a few years but were afraid of continued declining values. These buyers are finally stepping up to the plate which is contributing the the good numbers we saw in October.

If the current activity level is any indicator, we should be reporting more good news regarding November!

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something