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Rhode Island Real Estate Market Report - Q1 2014
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Transcript of Rhode Island Real Estate Market Report - Q1 2014
First Quarter - 2014Market Report
Executive Summary
Spring is in the air here in Rhode Island and the housing market is coming into full bloom. Across the state, and in most counties, the average sale price of a single-family home in Rhode Island has increased by 25%, while the days on market (DOM) has decreased, as much as 23% in some towns.
This increased demand for housing is reflected in the number of homes sold in Rhode Island. Newport County has seen a 26% increase in the number of sales, while Washington County has experienced a 9% increase when compared to Q1 2013. Most notably, Jamestown has sold 75% more homes in Q1 2014 vs. Q1 2013!
In the luxury market, properties priced at $750,000 or higher, the number of homes being sold has increased by 77%. The average sale price and median sale price have both increased, 23% and 21% respectively.
Rhode Island Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 1,520 1,499 -1.4% 1,520 1,499 -1.4% AVERAGE SALE PRICE $ 231,839 $290,868 25% $ 231,839 $ 290,868 25% MEDIAN SALE PRICE $ 185,000 $196,000 6% $ 185,000 $ 196,000 6%
AVERAGE DOM 105 101 -4% 105 101 -4% % SALE TO LIST PRICE 89% 94% 6% 89.1% 94% 6%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 4,182 1,260 3 3,955 1,257 3 $250,000 - $500,000 2,396 533 4 2,651 579 5 $500,000 - $750,000 622 96 6 691 117 6 $750,000 - $1,000,000 260 34 8 283 33 9 $1,000,000 - $2,000,000 285 33 9 270 19 14 $2,000,000 - $5,000,000 140 10 14 168 18 9 $5,000,000 and up 28 0 N/A 30 2 15 Market Total 7,913 1,966 4 8,048 2,025 4
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $389,114 $414,966 $422,796 $434,410 $379,631 $309,118 $329,368 $326,435 $333,754 $269,949
Days on Market 65 75 89 98 104 108 101 109 108 92
% Sale Price to
List Price 96.1 95.8 95.8 93.9 93.4 92.7 92.4 92.1 92.7 94.6
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Newport County Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 112 144 26% 112 144 26% AVERAGE SALE PRICE $ 384,234 $610,124 85% $ 384,234 $610,124 85% MEDIAN SALE PRICE $ 276,250 $ 312,500 13% $ 276,250 $ 312,500 13%
AVERAGE DOM 159 145 -9% 159 145 -9% % SALE TO LIST PRICE 82.9% 91% 10% 82.9% 91% 10%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 222 48 5 187 57 3 $250,000 - $500,000 306 74 4 336 70 5 $500,000 - $750,000 138 20 7 145 25 6 $750,000 - $1,000,000 84 7 12 67 12 6 $1,000,000 - $2,000,000 86 14 6 66 5 13 $2,000,000 - $5,000,000 70 4 18 84 13 6 $5,000,000 and up 16 0 N/A 20 1 20 Market Total 922 167 6 905 183 5
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $525,471 $562,745 $591,833 $662,348 $565,318 $448,523 $489,019 $508,967 $540,348 $473,297
Days on Market 89 96 106 119 123 130 129 150 151 142
% Sale Price to
List Price 94.3 94.3 93.7 93.6 91.7 89.3 91.3 90.9 92.3 92
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
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 (1/1/14) through (3/31/14).
Washington County Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 238 260 9% 238 260 9% AVERAGE SALE PRICE $ 356,925 $ 450,500 26% $ 356,925 $ 450,500 26% MEDIAN SALE PRICE $ 276,000 $ 310,000 12% $ 276,000 $ 310,000 12%
AVERAGE DOM 132 141 7% 132 141 7% % SALE TO LIST PRICE 89% 92% 3% 89% 3% 3%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 432 111 4 399 102 4 $250,000 - $500,000 685 136 5 696 153 5 $500,000 - $750,000 182 24 8 219 37 6 $750,000 - $1,000,000 78 6 13 98 6 16 $1,000,000 - $2,000,000 122 8 15 124 10 12 $2,000,000 - $5,000,000 50 6 8 52 5 10 $5,000,000 and up 11 0 N/A 6 0 N/A Market Total 1,560 291 5 1,594 313 5
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price
$414,162 $459,224 $473,068 $451,686 $436,509 $351,124 $383,789 $377,122 $415,679 $392,460
Days on Market 68 80 97 107 111 112 112 113 117 117
% Sale Price to
List Price 95.9 95.2 98.1 89.6 92.6 92.4 92.0 91.9 92.0 93.7
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Providence County Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 745 721 -3% 745 721 -3% AVERAGE SALE PRICE $180,397 $ 196,897 9% $ 180,397 $ 196,897 9% MEDIAN SALE PRICE $ 153,000 $ 162,000 6% $ 153,000 $162,000 6%
AVERAGE DOM 94 81 -14% 94 81 -14% % SALE TO LIST PRICE 89.8% 96% 7% 89.8% 7% 7%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 2,366 715 3 2,180 686 3 $250,000 - $500,000 699 148 5 799 177 5 $500,000 - $750,000 136 18 8 145 26 6 $750,000 - $1,000,000 44 13 3 32 3 11 $1,000,000 - $2,000,000 23 4 6 19 1 19 $2,000,000 - $5,000,000 4 0 N/A 7 0 N/A $5,000,000 and up 1 0 N/A 0 0 N/A Market Total 3,309 898 4 3,182 893 4
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $276,027 $295,505 $296,675 $283,043 $237,389 $182,516 $210,629 $194,388 $192,094 $204,161
Days on Market 50 59 74 81 89 90 80 91 92 79
% Sale Price to
List Price 97.2 97.1 96.5 95.6 94.6 94.3 94.7 94.5 94.4 95.7
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Bristol County Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 69 56 -19% 69 56 -19% AVERAGE SALE PRICE $ 364,259 $ 462,830 27% $ 364,259 $ 462,830 27% MEDIAN SALE PRICE $ 325,000 $ 334,500 3% $ 325,000 $ 334,500 3%
AVERAGE DOM 105 105 0% 105 105 0% % SALE TO LIST PRICE 89.4% 95% 6% 89.4% 95% 6%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 171 49 3 169 52 3 $250,000 - $500,000 352 90 4 409 75 5 $500,000 - $750,000 85 14 6 101 18 6 $750,000 - $1,000,000 28 2 14 46 6 8 $1,000,000 - $2,000,000 34 4 9 35 2 18 $2,000,000 - $5,000,000 12 0 N/A 20 0 N/A $5,000,000 and up 0 0 N/A 4 1 4 Market Total 682 159 4 784 154 5
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $445,163 $465,290 $452,418 $486,501 $418,182 $362,096 $350,232 $352,537 $325,240 $376,377
Days on Market 70 88 96 106 110 121 105 108 104 105
% Sale Price to
List Price 95.5 95 94.7 94.6 93.7 92.7 89.3 88.8 89.8 94.6
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Kent County Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 356 327 -8% 356 327 -8% AVERAGE SALE PRICE $ 211,924 $ 200,920 -5% $ 211,924 $ 200,920 -5% MEDIAN SALE PRICE $ 175,000 $ 170,000 -3% $ 175,000 $ 170,000 -3%
AVERAGE DOM 99 85 -14% 99 85 -14% % SALE TO LIST PRICE 91.1% 95% 4% 91.1% 95% 4%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 991 337 3 1,020 360 3 $250,000 - $500,000 354 85 4 411 104 4 $500,000 - $750,000 81 20 4 81 11 7 $750,000 - $1,000,000 26 6 4 40 6 7 $1,000,000 - $2,000,000 20 3 7 26 1 26 $2,000,000 - $5,000,000 4 0 N/A 5 0 N/A $5,000,000 and up 0 0 N/A 0 0 N/A Market Total 1,476 451 3 1,583 482 3
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price
$284,748 $292,064 $299,988 $288,473 $240,757 $201,329 $213,170 $199,162 $195,407 $212,893
Days on Market 49 54 70 76 85 85 77 85 78 80
% Sale Price to
List Price 97.6 97.6 96.3 96.2 94.8 95.0 94.9 94.4 95.2 96
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Newport Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 19 38 100% 19 38 100% AVERAGE SALE PRICE $ 282,500 $ 855,861 203% $ 282,500 $ 855,861 203% MEDIAN SALE PRICE $ 500,000 $ 450,000 -10% $ 500,000 $ 450,000 -10%
AVERAGE DOM 129 189 47% 129 189 47% % SALE TO LIST PRICE 86.2% 89% 3% 86.2% 89% 3%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 25 8 3 18 6 3 $250,000 - $500,000 54 22 2 61 13 5 $500,000 - $750,000 30 4 8 26 7 4 $750,000 - $1,000,000 20 1 20 21 6 4 $1,000,000 - $2,000,000 21 6 4 14 1 14 $2,000,000 - $5,000,000 13 0 N/A 23 6 4 $5,000,000 and up 6 0 N/A 8 0 N/A Market Total 169 41 4 171 39 4
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $702,122 $716,878 $703,720 $724090 $648,709 $566,218 $658,372 $570,117 $835,059 $571,608
Days on Market 105 101 123 113 143 143 133 160 162 130
% Sale Price to
List Price 93.0 92.6 93.8 92.9 90.2 84.7 88.9 91.0 94.5 92.5
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Narragansett Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 37 38 3% 37 38 3% AVERAGE SALE PRICE $ 434,597 $ 418,340 -4% $ 434,597 $ 418,340 -4% MEDIAN SALE PRICE $ 350,000 $ 345,500 -1% $ 350,000 $ 345,500 -1%
AVERAGE DOM 142 110 -23% 142 110 -23% % SALE TO LIST PRICE 86.8% 94% 8% 86.8% 94% 8%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 29 8 4 16 5 3 $250,000 - $500,000 96 21 5 99 25 4 $500,000 - $750,000 27 8 3 42 9 5 $750,000 - $1,000,000 15 0 N/A 23 3 8 $1,000,000 - $2,000,000 23 3 8 12 2 6 $2,000,000 - $5,000,000 16 3 5 14 2 7 $5,000,000 and up 2 0 N/A 1 0 N/A Market Total 208 43 5 207 46 5
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $504,075 $578,643 $574,506 $491,788 $533,271 $391,910 $533,508 $477,349 $529,761 $494,765
Days on Market 71 79 114 123 125 124 135 139 141 120
% Sale Price to
List Price 95.4 95.4 92.2 93.1 91.3 92.3 92.2 91.0 88.2 92.5
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
East Side of Providence Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 22 30 36% 22 30 36% AVERAGE SALE PRICE $527,841 $ 511,358 -3% $ 527,841 $ 511,358 -3% MEDIAN SALE PRICE $ 430,000 $ 495,625 15% $ 430,000 $ 495,625 15%
AVERAGE DOM 84 97 15% 84 97 15% % SALE TO LIST PRICE 88.1% 95% 8% 88.1% 95% 8%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 16 4 4 13 4 3 $250,000 - $500,000 46 13 4 44 14 3 $500,000 - $750,000 29 11 2 36 10 4 $750,000 - $1,000,000 19 12 2 10 0 NA $1,000,000 - $2,000,000 13 3 4 11 1 11 $2,000,000 - $5,000,000 1 0 N/A 3 0 N/A $5,000,000 and up 1 0 N/A 0 0 N/A Market Total 125 43 3 117 29 4
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $540,210 $578,834 $600,197 $575,976 $592,702 $506,981 $507,147 $480,436 $521,866 $523,969
Days on Market 57 64 70 67 83 82 79 85 102 84
% Sale Price to
List Price 94.4 95.6 95.3 94.5 95.5 93.5 94.5 94.1 93.4 95.5
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Jamestown Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 8 14 75% 8 14 75% AVERAGE SALE PRICE $542,826 $ 917,964 69% $542,826 $917,964 69% MEDIAN SALE PRICE $ 499,500 $ 507,500 2% $ 499,500 $ 507,500 2%
AVERAGE DOM 111 162 46% 111 162 46% % SALE TO LIST PRICE 90.1% 92% 2% 90.1% 92% 2%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 1 0 N/A 1 0 N/A $250,000 - $500,000 31 8 4 28 13 2 $500,000 - $750,000 17 6 3 16 2 8 $750,000 - $1,000,000 13 2 7 8 2 4 $1,000,000 - $2,000,000 11 3 4 7 1 7 $2,000,000 - $5,000,000 18 2 9 20 2 10 $5,000,000 and up 5 0 N/A 6 0 N/A Market Total 96 21 5 86 20 4
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $600,400 $844,450 $820,028 $1,051,125 $1,114,325 $863,452 $751,075 $733,908 $669,222 $726,834
Days on Market 110 109 126 140 125 159 148 196 197 148
% Sale Price to
List Price 94.0 94.0 92.9 92.8 94.2 91.9 92.0 91.3 91.8 92.6
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Westerly Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 37 47 27% 37 47 27% AVERAGE SALE PRICE $ 296,236 $ 579,399 96% $ 296,236 $ 579,399 96% MEDIAN SALE PRICE $ 212,500 $ 282,000 33% $ 212,500 $ 282,000 33%
AVERAGE DOM 126 166 32% 126 166 32% % SALE TO LIST PRICE 86.4% 92% 6% 86.4% 92% 6%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 66 19 3 77 16 5 $250,000 - $500,000 127 18 7 122 22 6 $500,000 - $750,000 39 3 13 45 8 6 $750,000 - $1,000,000 14 0 N/A 19 2 10 $1,000,000 - $2,000,000 31 2 16 26 0 N/A $2,000,000 - $5,000,000 17 3 6 17 1 17 $5,000,000 and up 7 0 N/A 5 0 N/A Market Total 301 45 7 311 49 6
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $422,991 $480,102 $580,597 $543,149 $511,132 $422,925 $391,002 $468,075 $584,259 $520,480
Days on Market 69 93 109 124 128 134 124 120 147 135
% Sale Price to
List Price 93.7 93.1 92.3 91.4 91.9 89.1 88.7 88.8 91.4 91.8
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Block Island Single-Family Homes – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 2 8 300% 2 8 300% AVERAGE SALE PRICE $ 1,162,500 $1,455,562 25% $1,162,500 $1,455,562 25% MEDIAN SALE PRICE $ 1,162,500 $1,587,500 37% $ 1,162,500 $ 1,587,500 37%
AVERAGE DOM 610 495 -19% 610 495 -19% % SALE TO LIST PRICE 86% 87% 1% 86% 87% 1%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$0 - $250,000 N/A N/A N/A N/A N/A N/A $250,000 - $500,000 N/A N/A N/A N/A N/A N/A $500,000 - $750,000 3 0 N/A 6 1 6 $750,000 - $1,000,000 10 2 5 10 0 N/A $1,000,000 - $2,000,000 27 0 N/A 38 3 13 $2,000,000 - $5,000,000 5 0 N/A 9 2 5 $5,000,000 and up 1 0 N/A N/A N/A N/A Market Total 46 2 23 63 6 11
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average
Sale Price $540,210 $578,834 $600,197 $575,976 $592,702 $506,981 $507,147 $480,436 $521,866 $1,433,522
Days on Market 57 64 70 67 83 82 79 85 102 291
% Sale Price to
List Price 94.4 95.6 95.3 94.5 95.5 93.5 94.5 94.1 93.4 88
0
5
10
15
20
25
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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 (1/1/14) through (3/31/14).
Rhode Island Luxury Single-Family Homes (750K+) – Q1 2013 v Q1 2014
OVERVIEW Q1 2013 Q1 2014 % CHANGE YTD 2013 YTD 2014 % CHANGE
HOMES SOLD 43 76 77% 43 76 77% AVERAGE SALE PRICE $ 1,281,703 $ 1,580,762 23% $ 1,281,703 $ 1,580,762 23% MEDIAN SALE PRICE $ 950,000 $ 1,147,500 21% $ 950,000 $ 1,147,500 21%
AVERAGE DOM 202 212 5% 202 212 5% % SALE TO LIST PRICE 87% 91% 5% 87% 91% 5%
SUPPLY/DEMAND SNAPSHOT Q1 2013 Q1 2014
SUPPLY DEMAND RATIO* SUPPLY DEMAND RATIO*
PRICE RANGE Active Listings Pending
Listings Active Listings
Pending Listings
$750,000 - $1,000,000 260 34 8 285 33 9 $1,000,000 - $2,000,000 285 33 9 271 19 14 $2,000,000 - $5,000,000 140 10 14 170 18 9 $5,000,000 and up 28 0 N/A 30 2 15 Market Total 713 77 9 756 72 11
*Supply Demand Ratio Key 1-7: High Demand 8-14: Balanced 15-21: Low Demand 22+: Very Low Demand
Ten Year Market History
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Av. Sale
Price $1,790,002 $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
Days on Market 162 142 156 151 145 175 170 184 191 175
% Sale Price to
List Price 90.1 90.4 90.1 91.5 90.1 84.8 80.0 79.9 83.7 90.4
0
50
100
150
200
250
300
350
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013$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 (1/1/14) through (3/31/14).