Warwick, RI- The Rhode Island real estate market continues to show increases in the median price of homes at $279,450, an increase of 3.5%.
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Credit Rhode Island Realtor Association |
At the same time, the number of homes coming on the market is increasing which according to Robert Scaralia Director for the Real Estate Institute Of Rhode Island is a positive sign. Over the last number of years, inventory has been at all-time lows which created an unbalanced market between buyers and sellers which caused home values to increase rapidly creating an affordability challenge in the market, Scaralia points out a balanced market creates a healthier more sustainable market for both buyers and sellers. One simple principle of is a property owner can sell their home for top dollar but if they need to buy a new home to replace the old they are now paying top dollar on the back end. Overall it remains a great time to buy and sell a home in Rhode Island when you take into account the added benefit of the current low-interest rates. For more information contact a local real estate agent.
-The Real Estate Institute Of Rhode Island is a state-approved Real Estate School offering pre-licensing classes and advanced real estate studies for real estate professionals. For more information visit
www.InstituteRI.com or contact the Administrative offices at 401-943-8500 or email
info@InstituteRI.com. Classrooms located at 22 Veterans Memorial Drive Warwick, RI 02886