single family home sales for pps

Rhode Island’s Real Estate Company®

Providence Single FamilyReal Estate Market

2009 and

The Recession


There are Good Signs


General Market Overview

• First Half of 2009 – Paralyzed

• Spring Market? Started in Late June

• Finally, Some Good RIAR Statistics– Year over Year July sales up 8.8%

– Median price steady at $210K, up 14% from '09 low

– Distressed home sales down to 30% vs 44% of total


Current State of the Market

• 2 Markets – Distressed and Non-distressed

• 6 Month Supply of SFM – Healthy Market

• 4.6 Month Supply of MFM – Seller's Market

– but highly affected by distressed sales (71% in July)


Armory, Broadway, and Elmwood Home Statistics

2008 2009

1st Quarter Avg. Price $123,600 $72,155

2nd Quarter Avg. Price $131,025 $82,431

Includes Multi-family (2-4) properties


More Armory, Broadway, and Elmwood Numbers

2006 2009 % Change

Number of Sales for first half of year 73 111 +52%

Days on Market (DOM) for first half of year 72 87 +21%

Includes Multi-family (2-4) properties


Most Expensive Sale

• In Broadway District in 2007• 174 - 176 Broadway• $570,000


Most Expensive Sale

• In Armory District in 2008• 62 Willow Street• $395,000


Most Expensive Sale

• In Broadway District in 2009• 104 Almy Street• $432,500


Least Expensive Listing in Armory, Broadway, or Elmwood Districts

• Multi-family in Armory• 88 Ford Street• $21,000

• Single Family in Elmwood• 48 Glenham Street• $35,000


Most Expensive Listing in Armory, Broadway, or Elmwood Districts

• Multi-family• 422 Broadway Street• $629,000

• Single Family• 36 Parkis Avenue• $289,000


East Side Home Statistics

2008 2009

1st Quarter Avg. Price $456,917 $432,214

2nd Quarter Avg. Price $579,384 $493,330


More East Side Numbers

2006 2009 % Change

Number of Sales for first half of year 94 53 -44%

Days on Market (DOM) for first half of year 67 84 +25%


Most Expensive Sale

• On East Side in 2007• 10 Brown Street• $2.4 Million


Most Expensive Sale

• On East Side in 2008• 66 Cooke Street• $2.775 Million


Most Expensive Sale

• On East Side in 2009• 309 Benefit Street• $3.2 Million


Least Expensive Listing

• On East Side in 2009• 29 Locust Street• $95,000


Most Expensive Listing

• On East Side in 2009• 460 Rochambeau Avenue• $12.5 Million


Then, There are Great Signs

single family home sales for pps

Real Estate

broadway street

broadway district

half of year

ford street

glenham street

willow street

almy street

brown street