The Multiple Listing Service and the Rhode Island Association of Real Estate have just released the attached statistics for 2006. The numbers demonstrate the strength and depth of the Real Estate Market in Rhode Island.
While value may ebb and flow, the change is minor. Between 2005 and 2006 the average single family home had virtually no change in median price: $282,900 in 2005 to $282,500 in 2006. Median Condominium price showed a significant increase. It is true that the number of sales had dropped significantly, but the market remains consistent and robust. In short, real estate remains a wise and prudent, long term investement.
View Statistics Here
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