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Rhode Island real estate jobs bucking national trend

Posted on February 27, 2011

Although the real estate industry has seen its fair share of deterioration around the US, some markets, are bucking the national trend, and Rhode Island real estate jobs appear to be strengthening.

MilfordDailyNews.com reports that while historically low interest rates, bargain prices, foreclosed properties and the federal tax credit presented terrific opportunities for first-time buyers, the flip side of the coin was not so rosy, as homeowners saw their property values plunging and hoped that one of those foreclosure signs didn’t pop up on their street.

several New England states – Rhode Island, Connecticut and Massachusett, are rising to meet new real estate demands and close deals.

MilfordDaily reports a snapshot of area sales and prices compared to 2009, as follows:

Single-family homes: Sales in 2010 were off 4 percent from 2009, but the average price was up 5 percent, from $449,902 in 2009 to $472,570 in 2010.

Condos: Both sales activity and prices were up. Sales increased by almost 4 percent in 2010, while the average price of a condo took a healthy jump of more than 13 percent. The average sales price of a MetroWest condo in 2010 was $289,468, compared to the 2009 average of $254,926.

Multi-Family homes: The 2010 numbers for multi-family sales closely paralleled the condo picture. Sales increased 4 percent from 2009, and the average price increased by 13 percent, from $238,715 in 2009 to $269,933 in 2011.

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Cranston Herald
Sakonnet Times
Portsmouth Times
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