र्होड़े इस्लंद रियल Estate

Our months of inventory is getting much more in line with what we need to see for any appreciation in 2010. With virtually no new construction, we will continue to see erosion in supply.(Please note that the Active category includes all Pending sales; short sales, market sales; pendings, etc).

One thing that really jumps out at me is the concentration on the low end. 89% of all sales in the State of Rhode Island in the past 12 months have been under $400,000!

Guess the first time homebuyer tax credit really is working!! Also, investors are jumping into the market in a big way. Why not? Lots of multi-family properties are paying over 10% return on cash - I've seen some deals that are paying nearly 40% return on cash! Who wouldn't make that investment!!



Rhode Island Single Family
Active Sold Average Sales Per Month Months of Inventory Percent of Supply Percent of Sold Years of Inventory
Total 5,808 7,615 635 9 100% 100% 0.8
$0K - $200K 1,862 3,921 327 6 32% 51% 0.5
$201K to $300K 1,480 2,051 171 9 25% 27% 0.7
$301K - $400K 837 835 70 12 14% 11% 1.0
$401K - $500K 514 371 31 17 9% 5% 1.4
$501K - $600K 306 170 14 22 5% 2% 1.8
$601K - $700K 182 98 8 22 3% 1% 1.9
$701K - $800K 135 49 4 33 2% 1% 2.8
$801K - $900K 88 25 2 42 2% 0% 3.5
$901K - $1,000K 78 11 1 85 1% 0% 7.1
$1,001K - $2,000K 199 58 5 41 3% 1% 3.4
$2,001K - $3,000K 65 12 1 65 1% 0% 5.4
$3,000K + 62 10 1 74 1% 0% 6.2