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In Rhode Island, a peek at two ends of the housing market
The median home price has skyrocketed here, and demand is still high.
Home prices have soared in Rhode Island, and bargains are becoming harder to find.
The median sales price in July in the state was $359,900 for a condo, $440,000 for a single-family home, and $500,000 for a multifamily property. These numbers reflect more than a 7% year-over-year increase in the single-family market sales price and jumps in the double digits for multifamilies and condos, the Rhode Island Association of Realtors reported Tuesday.
But a slight uptick in listings offers a glimmer of hope of better things to come.
To offer a snapshot of the Rhode Island housing market for prospective home buyers, we picked two properties at vastly different price points. Check them out:
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The Steven Miller Group of Coldwell Banker Realty has listed this modified Cape at 74 Winslow Ave in Warwick for $379,900.
The three-bedroom home comes with a beautiful backyard, three bedrooms, two full baths, and 1,872 square feet of living space.
“The best feature of the home is the backyard — full fenced and lovely perennial plantings, an outdoor deck to entertain, and a tire swing to enjoy the views of Gorton Pond,” Steven Miller said.
The home offers a first-floor primary suite with a tiled walk-in shower, refinished oak flooring in the dining and living rooms, a four-season sunroom, and a kitchen with tile flooring and stainless steel appliances.
The second floor holds two bedrooms and a renovated bath with a tub/shower combination and a double vanity.
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The partially finished lower level has a family room.
More on Rhode Island
The featured luxury listing is 150 Southern Way in Charlestown. Teri Degnan of Teri Degnan Real Estate & Consulting has listed the home for $9,600,000.
Set on 2.09 acres, the 6,023-square-foot mansion contains five bedrooms, three full baths, and one half bath.
The contemporary sits along Ninigret Pond, with access to the ocean through Charlestown Breachway. Tie up your beloved boat to the property’s 50-foot-plus private dock.
“You can see the majestic home from the pond. It’s an architectural gem,” Degnan said.
The home, which was built in 1986 and has additions, also features a pool surrounded by greenery.
There are scenic views from nearly every interior room and the decks of this architect-designed home. The extravagant primary suite spans the entire third floor.
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