Monday, December 14, 2015

Rhode Island Real Estate Market Data Report December 2015

Rhode Island Real Estate Market Data Report December 2015

By Emilio DiSpirito, Licensed Real Estate Agent, Team Leader & Radio Show Host

The Rhode Island real estate market in December of 2015 thus far has showed very encouraging results in the form of real estate transactions. With the median single family home selling in 63 days on market on average among our 39 municipalities and selling at over 95% of list price, we can confirm we are in a sellers market.

The real estate market in Rhode Island is hot right now for the following factors (in no given order):
  • Low inventory - Sellers have little competition. Simple case of supply and demand
    • Only 4300 Single Family Homes on market vs. 7,000 to 8,000 normally 
  • Favorable weather
    • Record breaking December - no snow & ice make it easy to show homes
  • Public is aware historic rates are about to be 'history'
    • Talks of FED raising rates
  • Boomerang buyers! Many buyers who lost homes to foreclosures or short sales can now buy
    • 7.3 million across country
  • Lending guidelines have eased up
  • Still very inexpensive to own when compared to rent
  • Millennials have come to the market as first time home buyers
  • Unemployment down with Job creation
  • Economy continuing to improve
  • What other factors have you seen? Leave comment below!
All in all we are poised to see the Rhode Island housing market to continue to prosper with expectations of Providence & Warwick area markets being the top in the country according to & Fortune Magazine! 

Note from author:
Have you seen those automated home value estimates online? Imagine if you can change them.. Would you? Often times they are off 7% to 13%. You can now adjust your properties online value on over 2 dozen real estate websites online at

For local real estate advice anywhere in Rhode Island or Massachusetts, contact me directly at 401-359-2338 or

Thanks for reading! Tune into my radio show each Sunday on iHeartradio "whjj" or Newsradio 920 at 10 am!! Catch past shows here 

Emilio DiSpirito The DiSpirito Team HomeSmart Professionals 501 Centerville Rd Warwick RI 02886 401-359-2338