According to the RI Realtors association, the median price of single-family homes sold in September rose 13.1 percent from the prior year, to $261,300. The data also showed that sales activity decreased from the prior year, falling 4.3 percent, a drop which was likely related to a 13.1 percent decline in the number of single-family homes for sale. Pending sales – or those under contract but not yet sold – also decreased 13.5 percent compared to September 2016. Big Increasing in Activity Condominium sales not only saw a 23.2 percent increase in median price from 12 months earlier, but closing activity also increased substantially, rising 18.4 percent. September’s median condo sales price was $228,000. The supply of condos for sale last month was 5.2 percent lower than September 2016, while pending sales rose by .37 percent. The median price of multifamily property sales rose 22.2 percent to $219,900 while sales activity increased 15.3 percent. The number of listings on the market was 23.5 percent lower than September of 2016 and pending sales in this sector fell 8.4 percent. “A lack of competition due to low inventory is causing prices to escalate. Thankfully interest rates remain low but we need more properties to come on the market if homes are to remain affordable, especially for first-time homeowners,” commented Brenda L. Marchwicki, 2017 President of the Rhode Island Association of Realtors.
With prime access to regional and national transportation and exceptional coastal amenities, City Centre Warwick offers a development opportunity that you won't find anywhere else. The site embraces 95 acres built in and around Green Airport, Warwick Rail Station, InterLink and Interstate Routes 95 and 295. Embedded within a sustainable walking community will be a dense, mix-use of commercial, office, hospitality and residential space. Offering something for everyone, City Centre Warwick creates an urban experience that is active, affordable and attractive to business development, employers and residents alike.
With a cohesive identity on a local, regional and national level, City Centre Warwick and Rhode Island will attract complementary public and private investment, increasing consumer usage of transit amenities, while making the state more economically competitive in a compact Northeast market. The ultimate goal is to create a diverse, pedestrian-friendly, sustainable, mixed use community, that offers quality jobs and sustainable business growth opportunities for all Rhode Islanders.
The vision and goal of City Centre Warwick is to revitalize and redefine the approximately 95 acres of land which comprises the district. We strive to create an attractive neighborhood center with vibrant public spaces that will serve as an engine of economic growth and vitality in the region.
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