Why Are Pending Sales So Crucial Now? Pending sales are an important measure of what is selling on the market, not what has sold then "closed," but what people are interested in buying NOW. Particularly in this fast changing market, pending sales are more predictive of the future selling market than looking at closed sales. For pending sales, we have no "closed" sale price, just the "asking" price at which the home was last listed. In this market, it is safe to say that the majority will finally close at a price less than asking and if last year is an indication, then we can assume at least 95% of list price on average. This does not hold true for properties with less than average days on market, which tend to sell closer to their asking price or for many foreclosures that are listed at a dramatically low "action" price.
January 2009 Sales Single Family Homes - East Side of Providence
Eleven properties went under agreement in January 2010. January 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 10 Burrs Land | 475,000 | | beds, baths | | Conventional |  | College Hill - off Benefit | This house was built in the 1700's and is one of the few remaining pre-revolutionary houses in Providence. Moved from Star Street. Architecht re-designed on the interior. | | 11 Old Tannery | $545,000 | | 2 beds, 2.2 baths | | Conventional |  | Off Blackstone Blvd | Mid Century Modern delight. In great condition. Needed cosmetics to bathroom. Otherwise, absolutely lovely. Great one level for downsizer. | | 35 Channing | | | beds, baths | | Conventional |  | Grotto area - off Blackstone Blvd | | | 35 Taber | 639,000 | | beds, baths | | Conventional |  | Wayland Square | Relocation owned - nice location in Wayland but on fairly busy street. | | 165 Hope | 899,000 | | beds, baths | | Conventional |  | College Hill on Hope St. | Beautiful Victorian - spacious with orignal details. Sold just a few years ago for over a million. | | 198 Slater | | | beds, baths | | Conventional |  | Blackstone | Very desirable location off Blackstone Blvd. | | 156 Blackstone | | | beds, baths | | Conventional |  | Blackstone | House in complete disrepair. Buyer may have plans to tear down existing house and build new. | | 131 Burlington | $389,000 | | | | Conventional |  | Blackstone | This needed much cosmetic updating. Nice location off Rochambeau and walk to Hope St. shops. Great for first time buyer. | | 150 Dexterdale | | | | | |  | Summit | Near North Main Street. | | 161 Ninth | | | | | |  | Summit | | | 10 Knowles | | | | | |  | Mt. Hope | |
Click here to view all East Side Single Family Listings.
November saw 7 single family properties go under agreement. As of this writing, one has come back on the market. What I notice that is different about this month is that there was only one sale of what I would consider a first time home buyer sale. The rest of the properties were all trade up houses. We have seen this segment really begin to move again as of the last couple of months and it continues to strengthen. I can't say the same for the condo category however. The was only 1 condo that went pending out of 76 active listings on the market! November 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 9 Diman Place | 739,000 | 4071 | 7 beds, 4.1 baths | 74 | Conventional |  | College Hill - near Stimson | This house needed a tremendous amount of updating. Assessed at nearly a million, would be a good value for someone who will invest the money in the property and wait for the market to return. | | 274 Blackstone Blvd | 735,000 | 1838 | 5 beds, 3.2 baths | 6 | Conventional |  | Blackstone Blvd | This house sold in a 4 way bidding war over asking. Move in condition - all updates, great location. | | 181 Tenth St | 249,000 | 1100 | 2 beds, 2 baths | 141 | Conventional |  | Summit | Started out at $319,000 - only sold when "action priced" at $249,000. | | 24 Wriston | 539,000 | 1700 | 3 beds, 2.1 baths | 42 | Conventional |  | Blacktone. Near Cole Ave. | Nice lopen ayout - good location near Cole. | | 84 Keene | 499,000 | 2706 | 6 beds, 2.1 baths | 55 | Conventional |  | College Hill | Needed a lot of renovation work. At the price, however, good value for the College Hill Location. | | 86 Elton | 419,000 | 1866 | 3 beds, 1.0 baths | 143 | Conventional |  | Wayland | Great location next to baby park, walk to Wayland Square. Only one bathroom in this house, but 3 car garage. | | 44 Hazard | 699,000 | 2900 | 3 beds, 3.2 baths | 79 | Conventional |  | Freeman Plat - Blackstone | This house has since come back on the market in December. Colonial with nice layout in great Freeman Plat locaiton. |
Click here to view all East Side Single Family Listings.
September Sales - There were 13 single family homes that went pending on the East Side. September sales were driven by first time homebuyers and good news.....trade ups! There is a thaw going on.....when the first time homebuyer market starts to move, then trade-ups start to happen. That is good news for some parts of the market. Absent however, were any single family sales over $750,000 indicating that the upper segment still has a deep freeze going on. For more detail, see below and scroll down to full commentary below chart. September 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 1 Benefit St | 739,000 | 3106 | 4 beds, 3.1 baths | 114 | Conventional |  | College Hill - Benefit St near Onley | Historic House, prime location, many fine upgrades. Pre-revolutionary era - one of few in Providence. | | 7 Knowles ST | 184,900 | 1564 | 4 beds, 1.1 baths | 42 | Conventional |  | Mt. Hope | Down far towards North Main which accounts for the low pricing. For first time buyer taking a tax credit, can't beat the price. | | 12 George | 719,000 | 3200 | 4 beds, 3.1 baths | 43 | Conventional |  | College Hill off Benefit - near courthouse | Historic townhouse near Brown - lots of space, prime location. | | 16 Clarendon Ave | 478,000 | 1928 | 3 beds, 1.2 baths | 10 | Conventional |  | Blackstone -off Cole | Sunny house with nice upgrades. Perfect for downsizer. | | 20 Firglade | 339,000 | 1847 | 5 beds, 2.0 baths | 20 | Conventional |  | Mt. Hope near Hope St. | This house needed a tremendous amount of upgrading - but nice location and price. Good purchase for first time home buyer willing put in some sweat equity. | | 24 Everett | 619,000 | 2500 | 5 beds, 1.1baths | 108 | Conventional |  | Wayland/Freeman Plat | A charming house with many upgrades. Quiet street off Arlington Ave. | | 25 Everett Ave | 475,000 | 2500 | 2 beds, 1 baths | 63 | Conventional |  | Wayland/Freeman Plat off Arlington | Classic Providence Four Square. A house like this, unrenovated normally has one bath - this had 2 full baths. | | 36 Magellan | 389,000 | 1727 | 4 beds, 1.1 baths | 38 | Conventional |  | Blackstone - off Blackstone Blvd near Grotto | Great price for a fabulous location. Rational floor plan. Much appeal especially for first time home buyer. | | 49 Boylston | 539,000 | 2292 | 4 beds, 2.1 baths | 7 | Conventional |  | Freeman Plat near Hope | This house sold in a few dates with 3 offers in multiple bid situation. House has open layout, many nice updates. Great trade up house. | | 70 Freeman Pkwy | 725,000 | 2488 | 3 beds, 2.2
baths | 149 | Conventional |  | Freeman Plat - near Arlington | This house has beautiful updates and an open floor plan. It had been on the market for some time at a higher price, but reduced to a level that solicited a workable offer. | | 122 Colonial Road | 369,000 | 1800 | 3 beds, 1.1 baths | 72 | Conventional |  | Summit | This house was in great condition with a beautifully updated kitchen. The location a few steps from North Main Street accounts for the lower pricing. This house would be in the 400's in another locale. | | 45 Methyl Street | | | | | |  | | This briefly went pending and is currently (as of 10/8) back on the market. Surprised about this one. It is a very nice house. It many have started out at too high a price point and has been on the market too long. Otherwise, very nice condition. Not much of a yard however. | Our take on September 2009 Single Family Property Sales on the East Side: The first time homebuyer segment continues to dominate sales on the East Side. Median list price for September was $475,000 for the 13 Listings that went pending with a median days on market of 63 days. The good news that I see however is the return of the trade-up buyer. Earlier in the year there was not much activity here and I worried what was happening to the sellers of the first time homebuyer houses. Were they renting and waiting for a more stable market? I think that there is a growing and greater sense of confidence happening (the stock market is in the mid-9000's, many think were are at the bottom of the real estate market). What was missing this month were any sales priced $800,000 and over. The highest price this month was in the low $700,000's. The lowest days on market for any pending sale this month was 7. Median price per square foot in September was $225, with a low of $118 and a high of $291. Click here to view all East Side Single Family Listings.
August 2009 Sales Single Family Homes - East Side of Providence August proved to be a combination of first time home buyer sales and trade ups. There were 12 pending sales for single family homes, half under $400K (first time home buyer) and 5 between $600K-$900K (trade-ups). One home in the over $1.mm price segment and only one foreclosure sold. For more detail, see below and scroll down to full commentary below chart. August 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 18 Hobart | 399,000 | 2409 | 5 beds, 2 baths | 39 | Conventional |  | Wayland off Elmgrove/Lloyd | This house offered a lot of space for the money. Drawbacks were some work needed and slightly commercial location. | | 39 Chace Av | 229,000 | 1428 | 3 beds, 1.1 baths | 108 | Conventional |  | Summit | Down far towards North Main which accounts for the low pricing. For first time buyer taking a tax credit, can't beat the price. | | 324 Williams St | 134,888 | 1052 | 6 beds, 1.1 baths | 34 | Conventional |  | Fox Point | Who needs to rent when you can be in an up and coming location for under $1000/month. Needed finishing work but great upside potential. | | 8 Jencks | 639,000 | 3369 | 5 beds, 3.1 baths | 142 | Conventional |  | College Hill off Benefit | In years past, this house sold in the 800's. An example of how far the market has come down. This house, although in great location, is a very vertical house which lacks appeal for some. | | 173 Brown | 785,000 | 3321 | 5 beds, 3.1 baths | 81 | Conventional |  | College Hill | This house sold in a bidding war less than 2 years ago. The buyers never moved in and sold it for less than they paid. Beautiful house, superior location near Brown, high grade finshes. | | 127 Arlington | 1,795,000 | 4668 | 6 beds, 3.2baths | 40 | Conventional |  | Wayland | This house was a complete redo with an addition that added significant space and large master suite. All details spectacular, brand new. Great for people who want "new" construction on the East Side. | | 26 Tecumseh | 63,000 | 1194 | 3 beds, 1 baths | 27 | Foreclosure |  | Mt. Hope | Foreclosure. | | 29 Locust | 95,000 | 2050 | 3 beds, 1.1 baths | 38 | Conventional |  | Mt. Hope | Near North Main | | 37 Fourth St | 259,900 | 1562 | 3 beds, 1.1baths | 151 | Conventional |  | Summit. | Great for first time homebuyer - nice street but close to North Main | | 43 Elmgrove | 739,000 | 5439 | 5 beds, 3.2
baths | 112 | Conventional |  | Wayland | Completely renovated, all ugrades and updates. On busy street close to commercial area but great location - steps from Wayland Square. | | 150 Meeting Street | 895,000 | 4340 | 5 beds, 3.1 baths | 55 | Conventional |  | College Hill | Classic and Beautiful in premier location. This house is assessed for over a million. | Our take on August 2009 Single Family Property Sales on the East Side: The first time homebuyer segement continues to dominate sales on the East Side. Median list price for August was $519,000 for the 12 Listings that went pending with an median days on market of 68 days. This stands in contrast to sales in May the height of our spring market for example, where the medial days on market were much shorter. Part of this is seasonal (I'd rather be at the beach too), but houses are not moving quite as quickly as they did in spring. The lowest days on market for any pending sale this month was 27. Median price per square foot in August was $166, with a low of $46 and a high of $384 for the property at 127 Arlington. Currently there are 67 Active singe family listings on the East Side. Click here to view all East Side Single Family Listings.
May 2009 Pending Sales Single Family Homes - East Side of Providence Times are changing once again, this time a boost for the trade-up home as this segment is beginning to thaw. We had 19 Single Family Homes go pending in May, and more than half list priced at over $450,000. For more detail, see below and scroll down to full commentary below chart. May 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 21 Sixth St | 299,000 | 1569 | 3 beds, 2 baths | 7 | Conventional |  | Summit - Near North Main | Normally, houses near N.Main St. tend to sell at lower prices. This one was architect designed and had stunning renovation. Clear why it went so quickly and over asking at $310K. | | 20 East George St | 315,000 | 1344 | 3 beds, 1.1 baths | 14 | Conventional |  | Fox Point | Location, location and great for first time buyer. Sold for full asking | | 25 Greaton | 345,000 | 1848 | 4 beds, 1.1 baths | 88 | Conventional |  | Summit | For Sale by owner but listed and sold through agent. | | 122 Everett | 469,000 | 2198 | 5 beds, 2.1 baths | 21 | Conventional |  | Blackstone/Wayland - off Elmgrove | Nice house on quiet street off Elmgrove. In need of updates. Sold for $450,000 or $204/sq ft. | | 531 Lloyd | 599,500 | 2680 | 4 beds, 2.2 baths | 33 | Conventional |  | Wayland | Roomy, great location and condition. Sold for $566,000 or $211 sq. ft. | | 203 Blackstone Blvd. | 685,000 | 5000 | 7 beds, 3.2baths | 500 | Conventional |  | Blackstone Blvd. | What a history! Was priced at one time over a million. Started out at $895,000 - sold for $600,000 or 120 sq. ft. - great value but needed total rehab. | | 96 Lloyd | 889,000 | 4124 | 7 beds, 3.1 baths | 40 | Conventional |  | College Hill | Updated, spacious house in College Hill. Sold for $815,000 or $197 a sq. ft. | | 328 Doyle | 599,000 | 2500 | 3 beds, 2.1 baths | 4 | Conventional |  | Blackstone - Doyle Ave near Freeman Plat | Sold immediately. Charming and lovely - inside and out. | | 15 Vassar | 429,000 | 1440 | 3 beds, 1.1baths | 5 | Conventional |  | Blackstone off Hope and Elmgrove. | Lovely well-maintaned house. Has bonus studio loft space over garage. | | 142 Sixth St | 249,000 | 1380 | 3 beds, 1.1
baths | 13 | Conventional |  | Summit near Miriam Hospital | Needs complete rehab but cannot beat the price. | | 20 Balton Rd | 555,000 | 1869 | 3 beds, 2 baths | 256 | Conventional |  | Blackstone - off Rochambeau | One level living, excellent location, great oversized deck off back. | | 129 Fosdyke | 689,000 | 2600 | 4 beds, 3.1 baths | 5 | Conventional |  | Blackstone | Totally renovated move in condition. | | 110 Hartshorn | 985,000 | 2862 | 3 beds, 3.1 baths | 271 | Conventional |  | Blackstone near Blvd | Oversized lot, one level living. Contemporary. On market 271 days - Highest listed price to sell this month. List price is $344 sq. ft. | | 152 Tenth St | 299,000 | 1008 | 2 beds, 1.1 baths | 10 | Conventional |  | Summit | First time home buyer product in nice condition/location. | | 868 Angell Street | $639,000 | 3763 | 6 beds, 2.1 baths | 58 | Conventional |  | Wayland near Patterson Park | First deal on this house fell through. Had originally gone pending several months prior. | | 46 Top St | $249,000 | 1001 | 2 beds, 1 bath | 10 | Conventional |  | Summit | Great for first time home buyer. Second floor expansion possibilities. Shared driveway. | | 68 Bayard | $299,000 | 2000 | 4 beds, 2 baths | 29 | Conventional |  | Summit | Great for first time buyer. Attached garage. Good space for the money. | | 17 Irving | $495,000 | 2481 | 6 beds, 2 baths | 28 | Conventional |  | Wayland off Arlington Ave | Just a lovely, lovely house in great location. Charming. In need of some updates. | Our take on May 2009 Single Family Property Sales on the East Side: For the first time this year we saw solid movement in the "trade-up" segment - those homes priced $450,000 - $850,000. In fact, of the 19 properties that went under agreement in May, more than half were priced above $450,000 and one was priced at nearly $1,000,000. Part of this sales trend is seasonal as families with children, the classic trade-up buyer tends to purchase around the school year cycle with a move happening prior to the September school start. However, the news is good for this segment of the market and the first real momentum we have seen in some time. First time home buyer homes also did well with 9 going under agreement. Median list price for May was $495,000 for the 19 Listings that went pending with an median days on market of 13 days. That's pretty quick in our book and a sign of better times ahead. Oh, and not one pending sale was a short sale or foreclosure - first time all year! Click here to view all East Side Single Family Listings. May 2009 Pending Sales for Condominiums - East Side of Providence In May, there were 14 pending sales of condominium homes on the East Side. Of these 14 properties, the highest list price was $699,000 while the lowest was $149,900. All but two of the condos that went under agreement per priced under $300,000. May 2009 Condominium Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 54 Pitman Court | 169,000 | 718 | 1 beds, 1 baths | 180 | Conventional |  | Foxpoint/Wayland | Rent alternative. Good location, but busy street. Closed at $150,000. | | 255 Doyle | 234,000 | 1272 | 2 beds, 1 baths | 11 | Conventional |  | Blackstone - Doyle Ave near Morris | Despite outward appearances, this was a very nice unit at good price/location. Sold for $225,000. | | 124 Blackstone Blvd | 299,000 | 980 | 2 bed, 1.1 baths | 73 | Conventional |  | Blackstone Blvd | Great location/renovation. Sold for $285,750 or $293 sq. ft. | | 235 Doyle | 249,000 | 826 | 2 beds, 1 baths | 42 | Conventional |  | Blackstone off Morris - Hope | Larger association. Nice building. Closed sale at $233,000 or $282 sq.ft. | | 120 Grand View | 219,900 | 1406 | 2 beds, 1.1 baths | 65 | Conventional |  | Mt. Hope | New construction with a lot to offer - garage - nice layout. Location leaves much to be desired. | | 140 Humbolt | 149,000 | 625 | 1 beds, 1 baths | 119 | Conventional |  | Wayland | Rent Alternative, first time homebuyer segment. Near shops at Wayland Square/ Blackstone BLVD. | | 139 Doyle | 199,000 | 1313 | 2 beds, 2 baths | 193 | Conventional |  | Mt.Hope | Spacious for the price but busy street. | | 204 Rpchambeau | 209,000 | 1062 | 2beds, 1.1 baths | 32 | Conventional |  | Summit. | First floor unit. Near Hope St. shops. Good location - rent alternative. | | 555 South Main | 239,000 | 864 | 1 beds, 1 bath | 75 | Conventional |  | Fox Point | Water views, large establised condo association. | | 146 Elmgrove | 255,000 | 935 | 2 beds, 2 baths | 5 | Conventional |  | Blackstone on Elmgrove Ave - Wayland | Shortest days on market of any condo this month. Established association, great location, price. | | 2 Pratt Street | 699,000 | 1900 | 3 beds, 3.1baths | 201 | Conventional |  | College Hill | New Construction. Garage. High end finishes. Highest priced pending condo this month. | | 5 East St | 299,000 | 1168 | 1 bed, 2 baths | 121 | Conventional |  | Fox Point | Renovated in 2005 - historic charm - desirable location. | | 34 Barnes | 349,000 | 1460 | 2 beds, 1.1 baths | 75 | Conventional |  | College Hill | Nice renovation - location. | | | 191 Morris Ave | 1323 | 3 beds, 1 bath | 61 | Conventional |  | Blackstone - near Freeman Plat | Good location - recently renovated. | Our take on May 2009 Condo Sales on the East Side: Not a foreclosure or short sale a one. This segment was again driven by the first time homebuyer with almost all the condo sales being in the $300K and under range. This time of year is when medical interns/residents/fellows as well as grad student are looking for housing. Median list price for the condos that went under agreement was $244,000 with a median days on market of 89 days, far, far longer than single family homes on the East Side. This category has more inventory and less demand but is still a viable alternative to renting on the East Side of Providence. Click here to view Active Condo listings on the East Side, Providence RI.
April 2009 Pending Sales Single Family Homes - East Side of Providence In April there were 15 pending sales of single family homes on the East Side of Providence. As you will see from the anaylsis below, times are changing........ April 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 496 Morris | 359,000 | 1600 | 4 beds, 2 baths | 19 | Conventional |  | Blackstone - near Hope St. - Morris Ave | Had nice kitchen renovation, open floor plan. First time homebuyer price point. | | 152 Eighth St | 395,000 | 1710 | 4 beds, 2.1baths | 64 | Conventional |  | Summit - near Miriam Hospital | Oversized lot. | | 15 Grotto | 520,000 | 2118 | 3 beds, 2.1 baths | 58 | Conventional |  | Grotto - off Blackstone Blvd. | Bungalow on desirable Grotto Ave. Needed updates | | 16 Elmway | 579,000 | 2774 | 3 beds, 2.1 baths | 39 | Conventional |  | Blackstone/Wayland - off Elmgrove | Nice house on quiet street off Elmgrove. | | 176 Pleasant St | 199,900 | 3212 | 5 beds, 5.1 baths | 11 | Probate/Estate Sale |  | MT. Hope Neighborhood | Estate Sale. Very low price per sq. ft. $62 vs. median or $234. | | 123 Dexterdale | 269,000 | 1913 | 3 beds, 1 baths | 68 | Short Sale |  | Summit near north main st. | Short sale. | | 20 E. George | 315,000 | 1344 | 3 beds, 1.1 baths | 7 | Conventional | | Fox Point | Sold befoe open house. Solid fox point location. Great price point - condo alternative. | | 360 Morris | 389,000 | 1344 | 3beds, 1.1 baths | 2 | Conventional |  | Blackstone - Morris Ave near Stadium | Sold immediately. Great price/location. | | 221 Eighth | 389,000 | 1201 | 3 beds, 2 baths | 3 | Conventional |  | Cute, well maintained Bungalow. Sold out of its open house. | Large house, great location, needed cosmetic updates. | | 31 East Manning | 479,000 | 2629 | 4 beds, 1 baths | 70 | Conventional |  | Wayland | Lots of Charm but needed lots of work. Only one bathroom in whole house. | | 82 Grotto | 528,000 | 1984 | 4 beds, 2 baths | 26 | Conventional |  | Blackstone - Grotto | 1940's Colonial with updates and attached garage. Desirable location. Nice backyard | | 270 Freeman Parkway | 599,000 | 2543 | 3 beds, 2.1 baths | 0 | Possible Estate Sale |  | Freeman Plat/Blackstone | Classic East Side Colonial near Blvd. Extensive renovation needed. | | 38 Hazard | 755,000 | 2800 | 4 beds, 3.1 baths | 29 | Conventional |  | Freeman Pla | On the market last year as well. Complete Renovation top to bottom. | | 18 Ray | 475,000 | 2629 | 4 beds, 1 baths | 70 | Conventional |  | Blackstone near Blvd/Cole Ave | Needed cosmetic updates. Good location. | Our take on April 2009 Single Family Property Sales on the East Side: April was the month of the first time home buyer on the East Side with good quality inventory under $450K being snapped up before a listings first open house and/or multiple offer situations. Muliple offers? Is this 2004 again? Of course not, but the first time homebuyer is out in full force on the East Side. The houses that are in good move-in condition are the ones that are selling. Too much work needed and the inventory is sitting. Over half of the properties that went pending in April were priced at $450 and under. One of those was a short sale, another a foreclosure. Days on Market numbers: Of the 15 April Pending sales: 5 of the 15 pendings (33%) went pending in LESS THAN ONE WEEK. This shows how much pent up demand there is in the first time homebuyer segment with low interest rates and the $8000 tax credit. Four more houses had been on the market under 30 days (quick velocity again), 5 between 31-90 days and only one that had been on the market for 90 days or more. The highest priced sale in April went pending at a list price of $755,000. This house was a complete renovation in a very desirable location. Nothing above this price point went under agreement in April. Click here to view all East Side Single Family Listings. April 2009 Pending Sales for Condominiums - East Side of Providence In April, there were 11 pending sales of condominium homes on the East Side. Of these 11 properties, the highest list price was $579,000 while the lowest was $84,900. More than half the condos that went under agreement per priced as "rent alternatives" or under $200,000. April 2009 Condominium Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 160 Irving | 125,000 | 698 | 2 beds, 1 baths | 87 | Conventional |  | Blackstone/Wayland | Rent alternative. Good location. | | 537 Angell | 189,000 | 662 | 2 beds, 1 baths | 46 | Conventional |  | Wayland | Steps to Wayland Square. Great condition/price. | | 186 Camp St | 84,900 | 820 | 2 bed, 1 baths | 107 | Conventional |  | Mt. Hope/Camp St. | Rent alternative/first time home buyer. | | 11 North Ave | 114,900 | 528 | 1 beds, 1 baths | 20 | Conventional |  | Blackstone/Summit | Rent alternative. Great location off Blackstone Blvd/Hope. | | 274 South Main St | 189,900 | 600 | 1 beds, 1 baths | 17 | Conventional |  | College Hill | Shortest time on Mkt for all condos this month. | | 32 34 Sargent Ave | 199,000 | 1200 | 2 beds, 1 baths | 26 | Conventional |  | Summit | Rent Alternative, first time homebuyer segment. | | 12 Aldrich Terrace | 259,000 | 1748 | 3 beds, 1.1 baths | 33 | Conventional |  | Summit | Good square footage/location for the money. | | 26 7th St | 273,000 | 1440 | 3 beds, 1.1 baths | 192 | Conventional |  | Summit. | 2006 Construction | | 156 Prospect | 388,500 | 1272 | 2 beds, 1 bath | 38 | Conventional |  | College Hill Location | Roomy, nice details. | | 1 Wayland | 439,000 | 1570 | 3 beds, 2 baths | 173 | Conventional | | Wayland/Foxpoint | New 2006 Construction | | 156 Medway | 579,000 | 2800 | 3 beds, 2 baths | 176 | Conventional |  | Wayland | New Renovation. High end finishes | Our take on April 2009 Condo Sales on the East Side: For this category, you are seeing the effect of the $8000 tax credit and first time home buyers looking for rent alternatives. More than half the condos that went under agreement were listed at $200,000 or under. With 105 active condos on the market, and 117 sales based on a rolling year, we are looking at a years worth of inventory. Expect prices to continue to fall in this segment until inventory levels get in line with demand. Click here to view Active Condo listings on the East Side, Providence RI.
March 2009 Pending Sales Single Family Homes - East Side of Providence In March there were 14 pending sales of single family homes on the East Side of Providence. March 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 155 Everett Ave | 459,900 | 2,695 | 5 beds, 3.2 baths | 229 | Short Sale |  | Freeman Plat/Blackstone | Short Sale. Great Value. Completely Renovated. | | 18 Ray St | 464,900 | 2748 | 5 beds, 2.1baths | 121 | Conventional | | Freeman/Blackstone | Solid East Side Colonial in need of a few updates. | | 103 Summit Ave | 299,900 | 1776 | 4 beds, 1.1 baths | 7 | Convention |  | Summit. | Mulitple bids on this handsome, well priced cottage. | | 27 Taft | 314,000 | 1409 | 7 beds, 3 baths | 197 | Conventional |  | Blackstone/near Brown Stadium | Orig price $319K. Good Value for first time homebuyer. Many Bedrooms. | | 40 Magellan | 337,000 | 1508 | 3 beds, 1.1 baths | 51 | Conventional |  | Blackstone off Blackstone Blvd. | In need of cosmentic updates. Great locatio. | | 25 Lauriston ST. | 449,000 | 2300 | 4 beds, 2.1 baths | 10 | Conventional |  | Summit. | Large house, good value for first time home buyer. | | 3 Catalpa | 469,000 | 2500 | 4 beds, 2.1 baths | 176 | Conventional |  | Mt. Hope | Large house, avg. location, originally listed for $579,000. When priced appropriately, did sell. | | 31 Laurel | 475,000 | 2233 | 5beds, 2.1 baths | 13 | Conventional |  | Freeman Plat/Blackstone | Great bones, location, needed complete cosmetic update. Selling at least 55,000 below assessed value. | | 494 Lloyd Ave | 499,000 | 3302 | 6 beds, 1.2 baths | 12 | Conventional |  | Wayland | Large house, great location, needed cosmetic updates. | | 45 Emeline | 639,000 | 2332 | 3 beds, 3 baths | 237 | Conventional |  | Freeman Plat/Blackstone | Selling for highest price for sq. ft. of all single families this month. | | 26 Rhode Island Ave | 639,000 | 2992 | 6 beds, 3.2 baths | 40 | Conventional |  | Wayland/Patterson Park | Large house in desirable neighborhood. Sold once price was reduced by $60K. | | 241 Taber | 735,000 | 2822 | 4 beds, 3.2 baths | 30 | Conventional |  | Freeman Plat/Blackstone | Classic East Side Colonial, beautifully redone. | | 70 Laurel | 824,900 | 3731 | 5 beds, 3.1 baths | 68-300 | Relocation owned |  | Freeman Plat/Blackstone | Lovely brick house in great location. One of the best deals on the East Side. Started in upper $900's. Sold once reduced several times. | | 518 Cole | 875,000 | 3672 | 4 beds, 3.2 baths | 18 | Conventional |  | Blackstone near Blvd. | This Mediterranean style colonial was originally price near assessed value of over $1.mm. Sold quickly when price reduced. | Our take on March 2009 Single Family Property Sales on the East Side: March saw a good return to activity across almost all price points on the East Side. The 14 pending East Side sales range in list price from $299,900 to $875,000. Breaking it down: 2 sales $880K+, 1 sale $700s, 2 sales $600s, 6 sales $400s, 3 sales in the $299-350 range. The only price point seeing little activity is the $1million+ range, a consequence of stock market wealth destruction and hiring freezes or cuts at the corporate executive level. Expect this segment of the market to pick up as prices come down and the economic outlook brightens. Days on Market numbers: Of the 14 March Pending sales: 3 houses had been on the market for 200+ days, 3 houses had been on the market between 100-200 days and 8 houses had been on the market 50 or less. These numbers underscore the critical importance of pricing correctly and realistically: all the properties that were on the market 100 days or more took price reductions before finding the "sweet spot" where buyers found them to be a value. Of the 8 properties that sold in 50 days or less only one (Rhode Island Avenue) had to take a price reduction before going under contract. Sellers will get a higher price by pricing correctly from the start - the first 30 days in a listing or the most important and the time when the seller has the opportunity to get the best price for their house. In this market, seller who sish to "wait for their price" will do just that: wait...and wait. Click here to view all East Side Single Family Listings.
March 2009 Pending Sales for Condominiums - East Side of Providence In March, there were 8 pending sales of condominium homes on the East Side. Of these 8 properties, the highest list price was $1,250,000 while the lowest was $59,000. Two appear to be foreclosures. March 2009 Condominium Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 32 Barnes | 398,000 | 1338 | 3 beds, 2.1 baths | 192 | Conventional |  | College Hill | Near Hope High. Started at $539,000. Special incentive - 8% commission. | | 20 Seventh Street | 104,900 | 987 | 2 beds, 1 baths | 120 | Foreclosure |  | Summit | Close to North Main. This one would provide rental income or be a great first time buyer property. | | 11 North Avenue | 144,900 | 650 | 1 bed, 1 baths | 193 | Foreclosure? |  | Blackstone/Summit | Great Location right off BLVD and Hope St. | | 19 - 21 Pratt | 297000 | 1338 | 3 beds, 1 baths | 66 | Conventional |  | College Hill | Garden Level Condo. Historic Building. | | 283 Benefit St | 329,000 | 1187 | 2 beds, 2 baths | 346 | Conventional |  | College Hill on Benefit Street | 3rd Floor Walkup. Took entire year to sell. Started at $375,000 | | 268 President | 368,000 | 1950 | 5 beds, 1.1 baths | 13 | Conventional |  | Blackstone - Grotto Neighborhood | Affordable condo in location with high end housing. Great Street. Much space, | | 19-21 Pratt | 440,000 | 1748 | 3 beds, 2 baths | 24 | Conventional |  | College Hill | Luxury Townhouse in Historic Building.$251 a square foot. | | 101 North Main | 1,250,000 | 2380 | 2 beds, 3 baths | 27 | Conventional |  | College Hill -Luxury Renovation. | Completely Renovated. Luxury finishes. Only Million Dollar + property to go under agreement on East Side. | Our take on March 2009 Condo Sales on the East Side: With 8 sales and 107 active condo listings, the volume of sales is definitely down. The trend for either LOCATION or PRICE is holding true. Buyers either want a premier, stable location (Benefit Street, College Hill, Grotto Neighborhood) or a value play (7th Street and North Av). We had wild swings in prices per square foot. The one one Seventh Street went under agreement at $60 per square foot while the one on North Main may have set an East Side record at $525 a square foot. Rumor has it that this condo was purchased as a pied a terre for a downsizing couple. On average, the median price for square foot was $212 per square foot. Days on market averaged 93. The shortest selling time was the condo on Grotto Ave (13 days) while the longest one was the one on Benefit Street at 346 days on market. We predict that prices in this segment will have to come down substantially, especially for those condos "in the middle", in decent locations, but not the premier ones. A buyer just has too many options and no urgency. That means lower prices when high supply meets low demand. Unless inventory can correct itself, we predict that condos still have more downside. Click here to view Active Condo listings on the East Side, Providence RI.
March 2009 Pending Multi Family Homes - East Side of Providence In February, there were 4 pending sales of multi - family homes on the East Side compared to 4 pending transactions for the same period last year. Of these 4 properties, only one was a foreclosure, any only one was listed for longer than 2 months on the market. Our take on February 2009 Multi Family Property Sales on the East Side: There are 37 Active Listings of Multi-families on the market right now. Almost half of these properties are price under $400,000. For the 4 that when pending in the month of February, the Median price was $349,450 for the month compared to a median Price of $482,000 for the same time last year, down 27%. The price for square foot for these properties is down to $102 from $128 for last year. Prices of multifamilies have been falling continually since the boom times of 2004-2005. Multifamily properties on the East Side hit their height in 2004 with condo conversions in full swing. Now these properties are not as attractive, since few actually provide cash flow and with stricter regulations on lead and fire codes, not to mention non-owner occupied taxes. Click Here to view all Active Multifamily Listings on the East Side Providence, RI.
March 2009 Pending Sales Single Family Homes - Oak Hill Pawtucket In February, there was one pending sale of single family homes in Oak Hill Pawtucket, which is just over the line from the East Side. We like to call it "East Side Extension". March 2009 Single Family Pending Sales Oak Hill Pawtucket| Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 223 Lafayette | 179,000 | 896 | 2 beds, 1 baths | 13 | Conventional |  | Oak Hill | Needs updates. Great location/price point for first time home buyer. | Our take on February 2009 Single Family Property Sales in Oak Hill Pawtucket: Not a whole lot to report here, just one sale that seem to be a first time homebuyer looking for a good value for the money. This one went under agreement in less than 2 weeks. If you are interested in Active Listings in Oak Hill, kindly let us know by contacting us and we will send you a list of properties. Contact Us Here.
February 2009 Pending Sales Single Family Homes - East Side of Providence In February there were 6 pending sales of single family homes on the East Side compared to 11 pending transactions for the same period last year. Of these 6 properties, 2 were short sales and 2 were completely renovated throughout. February 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 686 Angell Street | 689,000 | 3763 | 6 beds, 2.1 baths | 104 | Conventional |  | Wayland. Near Lincoln School and Seekonk River. | Spacious, great location. | | 283 Camp St | 229,000 | 1560 | 3 beds, 1 baths | 13 | Conventional |  | Camp St. near Temple and North Main. Summit Neighborhood. | Shortest time on market. House needed kitchen and upgrades throughout. Possible Estate Sale. Good Bones/potential for price. | | 61 Sessions St | 315,000 | 1594 | 4 beds, 1.1 baths | 97 | Short Sale |  | Near Brown Stadium and JCC. Blackstone Neighborhood. | Short Sale. | | 162 Lorimer | 379,000 | 1458 | 3 beds, 1.2 baths | 136 | Conventional |  | Blackstone Neigborhood. Near Hope St. shops. | Completely renovated, like new. | | 115 Upton | 459,000 | 1650 | 3 beds, 1.1 baths | 94 | Conventional |  | Blackstone Neighborhood need Blackstone Blvd. | Completely renovated. | | 420 Angell | 575,000 | 6232 | 9 beds, 3.2 baths | 345 | Short Sale |  | Wayland. Corner of Taber and Angell. | House assessed at 1.6million. Had been on market several years. Bargin price. | Our take on February 2009 Single Family Property Sales on the East Side: Last Month was all about VALUE. The houses that went under agreement in February were either great values (420 Angell, 283 Camp Street), were short sales (one would assume also bargins), and those with added value (those that were completely renovated). Median Price per square foot for these listings is $190.36 with the high being Upton at $278 per square foot and the lowest being Camp St. for $92 per square foot. Clearly, house sales are being driven by bargin hunters and value seekers. This stands in stark contrast to the same period last year in which there were 11 off market transactions or about 45% less for the same time period. Also for last year, the low price per square foot was $162.40 and the high $284.48 with the median of $202.17. Median prices for last years off market February transactions were $629,000 vs. $419,000 in 2009. Currently there are 54 active single families on the market, just 23 or 24% are priced below $450,000, yet 16 properties, or 30% of the active listings are 1,000,000 and above. Just like January, we have a lopsided level of inventory at this point with too few for the areas that are selling (first time home buyers) and too many (73%) in the trade up and luxury ranges. Hopefully we will see more in the first time home buyer price range come spring. Click here to view all East Side Single Family Listings.
February 2009 Pending Sales for Condominiums - East Side of Providence In February, there were 9 pending sales of condominium homes on the East Side compared to 6 pending transactions for the same period last year. Of these 9 properties, the highest list price was $499,000 while the lowest was $100,000. None of the off market transactions appear to be short sales or foreclosures. February 2009 Condominium Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 19 Pratt Street | 297,000 | 1338 | 3 beds, 1 baths | 38 | Conventional | | College Hill | Desirable location at Pratt and Halsey. | | 154 Irving | 100,00 | 540 | 1 beds, 1 baths | 399 | Conventional |  | Blackstone/Wayland Border | Near Blackstone Blvd. An alternative to renting. | | 98 Evergreen | 199,900 | 1262 | 2 beds, 1.1 baths | 257 | Conventional |  | Mt. Hope | Resale of renovated unit. | | 170 Irving | 319,000 | 1764 | 3 beds, 3 baths | 169 | Conventional |  | Blackstone/Wayland | Renovated Townhouse. This time last year, one in this complex sold for $365,000. | | 47 South Angel St | 289,000 | 2400 | 3 beds, 2.1 baths | 0 | Conventional |  | Wayland Square | New Construction -sold before print | | 79 Taber | 499,000 | 2250 | 3 beds, 3.1 baths | 210 | Conventional |  | Wayland | Completely Renovated. High end luxury finishes. | | 377 Hope St | 129,000 | 881 | 2 beds, 1 baths | 173 | Conventional |  | Hope Street. Blackstone Neighborhood. | On market a year. Sold for $115,000. A good solid alternative to renting. | | 30 Grotto | 489,000 | 2715 | 3 beds, 3.1 baths | 311 | Conventional |  | Grotto - Blackstone Neighborhood | Completely Renovated. Luxury finishes. | Our take on February 2009 Condo Sales on the East Side: This was a decent month for condos with 9 sales and none being foreclosures or short sales. A couple of trends emerge from looking at this data. First, buyers want NEW and completely renovated, or they want the value play or alternative to renting. All of the sales this month are under the $500,000 price mark, falling into that first time home or non-jumbo loan category. There were a couple of resale units (Pratt St, Evergreen), but for the most part, the condos that sold were newly renovated and brand new to market. Median price per square foot for the February off market condos were $150 with the highest being $222 per square foot (Pratt St) and the lowest $158 per square foot (154 Irving). Last year, the price trend per square foot was considerable more at a median of $282 per square foot. Median selling price for February 2009 was $287,500 vs. 364,500 for the same time last year. Prices in this segment have fallen and with the amount of inventory on the market, probably have further to go. Most soft are the sales of resale (not newly renovated) units. Not many changes or new news for this category vs. January. Currently there are 96 Active Condos on the market. Just like last month, over half of them (53)are condos priced under $300,000,. The inventory in this segment cannot sustain the slow rate of sales. We predict that prices in this segment will have to come down substantially. A buyer just has too many options and no urgency. That means lower prices when high supply meets low demand. Last year there were 117 condos in total sold on the East Side and 71 sold under $300,000. So roughly we are looking at a year's worth of inventory since the sales rate in this category has also slowed. More inventory should hit the market in spring, further driving down prices. Unless inventory can correct itself, we predict that condos still have more downside. Click here to view Active Condo listings on the East Side, Providence RI.
February 2009 Pending Multi Family Homes - East Side of Providence In February, there were 4 pending sales of multi - family homes on the East Side compared to 4 pending transactions for the same period last year. Of these 4 properties, only one was a foreclosure, any only one was listed for longer than 2 months on the market. Our take on February 2009 Multi Family Property Sales on the East Side: There are 37 Active Listings of Multi-families on the market right now. Almost half of these properties are price under $400,000. For the 4 that when pending in the month of February, the Median price was $349,450 for the month compared to a median Price of $482,000 for the same time last year, down 27%. The price for square foot for these properties is down to $102 from $128 for last year. Prices of multifamilies have been falling continually since the boom times of 2004-2005. Multifamily properties on the East Side hit their height in 2004 with condo conversions in full swing. Now these properties are not as attractive, since few actually provide cash flow and with stricter regulations on lead and fire codes, not to mention non-owner occupied taxes. Click Here to view all Active Multifamily Listings on the East Side Providence, RI.
February 2009 Pending Sales Single Family Homes - Oak Hill Pawtucket In February, there was one pending sale of single family homes in Oak Hill Pawtucket, which is just over the line from the East Side. We like to call it "East Side Extension". January 2009 Single Family Pending Sales Oak Hill Pawtucket| Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 223 Lafayette | 179,000 | 896 | 2 beds, 1 baths | 13 | Conventional | | Oak Hill | Needs updates. Great location/price point for first time home buyer. | Our take on February 2009 Single Family Property Sales in Oak Hill Pawtucket: Not a whole lot to report here, just one sale that seem to be a first time homebuyer looking for a good value for the money. This one went under agreement in less than 2 weeks. If you are interested in Active Listings in Oak Hill, kindly let us know by contacting us and we will send you a list of properties. Contact Us Here.
January 2009 Pending Sales Single Family Homes - East Side of Providence
In January, there were 4 pending sales of single family homes on the East Side compared to 6 pending transactions for the same period last year. Of these 4 properties, all were listed under $450,000 and the one on Sessions Street was a foreclosure. January 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 9 Belair Ave | 449,000 | 1684 | 3 beds, 2 baths | 88 | Conventional |  | Blackstone near Brown Stadium | Providence 4 square. Price started at $465K. | | 137 Sessions | 310,000 | 2343 | 4 beds, 1.1 baths | 10 | Foreclosure |  | Blackstone near Brown Stadium | Shortest time on market. Had multiple offers. Intereting to see if it closes above asking price. | | 301 Rochambeau | 409,900 | 1426 | 3 beds, 1.1 baths | 214 | Conventional |  | Blackstone near Hope Street - Rochambeau Library | Open floor plan, newer construction 1997. | | 60 East Manning | 415,000 | 2706 | 7 beds, 2.1 baths | 61 | Conventional |  | Fox Point - Near Gano Street | Largest Square footage and number of bedrooms of the 4 pendings | Our take on January 2009 Single Family Property Sales on the East Side: With credit markets in a deep freeze, just about the only people who are purchasing property are first time home buyers or bargin shoppers. With the FHA limit at $426,000 for the Providence area, conforming FHA loans are the easiest way to finance in this tight credit market. Nothing over $450K sold in the month of January. Other price segments remain frozen in place. Interestingly, of 49 active single families on the market, just 13 or 27% are priced below $450,000, yet 16 properties, or 33% of the active listings are 1,000,000 and above. We have a lopsided level of inventory at this point with too few for the areas that are selling (first time home buyers) and too many (73%) in the trade up and luxury ranges. Hopefully we will see more in the first time home buyer price range come spring. In general, there are less pending sales this year (one third less volume) as there were in 2008. Click here to view all East Side Single Family Listings. Foreclosures don't happen often on the East Side, but when they do, be sure there will be multiple offers as in the case of 137 Sessions, and the price of the property will be bid up. Best to bring cash in this circumstance and your very highest and best offer at the get-go.
January 2009 Pending Sales for Condominiums - East Side of Providence In January, there were 7 pending sales of condominium homes on the East Side compared to 10 pending transactions for the same period last year. Of these 7 properties, the highest list price was $589,000 while the lowest was $89,900. Two condos on Cole Avenue and the lowest priced of the 7 were foreclosure, bank owned properties. January 2009 Condominium Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 124 Blackstone Blvd | 269,000 | 980 | 2 beds, 1.1 baths | 285 | Conventional |  | Blackstone on the Blvd | Established association. Desirable location. | | 170 Prospect Street | 160,000 | 647 | 1 beds, 1 baths | 9 | Conventional |  | College Hill Prospect St. near University Heights | NearBrown University & Whole Foods Market | | 47 South Angel St | 289,000 | 2400 | 3 beds, 2.1 baths | 0 | Conventional | | Wayland Square | New Construction -sold before print | | 12 Cole Ave #1 | 114,900 | 1000 | 2 beds, 2 baths | 107 | Foreclosure |  | Wayland Square Area near Blackstone Blvd | 3 unit Multifamily building - small condo association | | 14 Cole Ave #2 | 89,900 | 865 | 2 beds, 1.1 baths | 270 | Foreclosure |  | Wayland Square Area near Blackstone Blvs | 3 Unit Multifamily building - small condo association | | 275 Angell St | 589,000 | 1732 | 3 beds, 2 baths | 154 | Conventional |  | College Hill. Near Hope Street | Historic Building. Luxury finishes. | | 79 Taber #2 | 499,000 | 2250 | 3 beds, 3.1 baths | 209 | Conventional | | Wayland | Newly Revovated. Luxury Finishes. | Our take on January 2009 Condo Sales on the East Side: Hold on to your hats! This category is down, down, and then some.....and probably more to go. What you have in this segment are an abundance of resales from small condo associations from the condo conversion boom of 2004 - 2005. The one on Cole Avenue was a foreclosure of two such units. From having viewed these units when they first went on the market, I know that there were no upgrades made to the building's previous life as an apartment rental building. They were just originally put on the market as "condos" but still looked like apartments and were priced at what were then considered "good values" for home ownership. Now they went to foreclosure. The smaller unit was priced at almost double its current listing price, starting at $172,900 to the current list price of 89,900. Hard to say who bought these as they would appeal to both a first time home buyer and an investor - at current rents, both units would provide positive cash flow. Currently there are 90 Active Condos on the market, yes, 90. Over half of them are condos priced under $300,000, a full 51 of them. That sure is a lot to chose from. The inventory in this segment cannot sustain the slow rate of sales. I predict that prices in this segment will have to come down substantially. A buyer just has too many options and no urgency. That means lower prices when high supply meets low demand. Last year there were 117 condos in total sold on the East Side and 71 sold under $300,000. So roughly we are looking at a year's worth of inventory since the sales rate in this category has also slowed. More inventory should hit the market in spring, further driving down prices. For the higher end condos that went pending, 79 Taber and 275 Angell Street. Both saw reductions from their initial asking price of $130,000 and $150,000 respectively, both 79% from the original asking. Condos that are new or have high level finishes still hold appeal although not at the prices once commanded as evidenced by the two examples above. Unless inventory can correct itself, we predict that condos still have more downside. Click here to view Active Condo listings on the East Side, Providence RI.
January 2009 Pending Multi Family Homes - East Side of Providence In January, there were 4 pending sales of multi - family homes on the East Side compared to 6 pending transactions for the same period last year. Of these 4 properties, all were listed under $400,000 one was a foreclosure, two were estate sales. January 2009 Multi Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Units | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 2 Trenton St | 259,900 | 1684 | 3 | 70 | Foreclosure |  | Fox Point | No parking | | 54 56 East Manning | 400,000 | 4180 | 3 | 61 | Estate Sale |  | Wayland | Oversized Lot - 10,393 Sq. Ft. No Pkg. Walk to Brown. Sold with 2 other properties as package. | | 68 70 East Manning | 400,000 | 3566 | 3 | 61 | Estate Sale |  | Wayland | Walk to Brown. Garage, pking. Sold with 2 other properties as package. | | 550 Hope St | 319,000 | 4365 | 2 | 183 | Conventional |  | Mt. Hope - on Hope Street | 2 Family on Hope St. near Cypress | Our take on January 2009 Multi Family Property Sales on the East Side: There are 37 Active Listings of Multi-families on the market right now. For the 4 that when pending in the month of January, the Median price was $359,950 for the month of January compared to a median Price of $437,500 for last year, down 18%. The price for square foot for these properties is down to 110.75 from 125.42 for last year. Multifamily properties on the East Side hit their height in 2004 with condo conversions in full swing. Now these properties are not as attractive, since few actually provide cash flow and with stricter regulations on lead and fire codes, not to mention non-owner occupied taxes. Click Here to view all Active Multifamily Listings on the East Side Providence, RI.
January 2009 Pending Sales Single Family Homes - Oak Hill Pawtucket In January, there were 2 pending sales of single family homes in Oak Hill Pawtucket, which is just over the line from the East Side. We like to call it "East Side Extension". One house that went pending was an Estate sale, the other was a foreclosure. January 2009 Single Family Pending Sales Oak Hill Pawtucket| Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 4 Nottingham St | 349,000 | 2300 | 3 beds, 2 baths | 78 | Estate Sale |  | Oak Hil - right off East Ave | Good condition but in need of Updates | | 324 Glenwook Av | 89,900 | 1628 | 5 beds, 1 bath | 454 | Foreclosure |  | Oak Hill - Near Pawtucket Ave | Could have been short sale if not forclosure | Our take on January 2009 Single Family Property Sales in Oak Hill Pawtucket: The house on Nottingham when pending fairly quickly. The agent is keeping the house on the market as "active pending" just in case, so the days on the market were actually under 30, not 78 as indicated above. The house was in a good location at a very good price, so it went pending quickly. Like the East Side, there is still demand in that first time home buyer segment.
Our take on September 2009 Single Family Property Sales on the East Side: The first time homebuyer segment continues to dominate sales on the East Side. Median list price for September was $475,000 for the 13 Listings that went pending with a median days on market of 63 days. The good news that I see however is the return of the trade-up buyer. Earlier in the year there was not much activity here and I worried what was happening to the sellers of the first time homebuyer houses. Were they renting and waiting for a more stable market? I think that there is a growing and greater sense of confidence happening (the stock market is in the mid-9000's, many think were are at the bottom of the real estate market). What was missing this month were any sales priced $800,000 and over. The highest price this month was in the low $700,000's. The lowest days on market for any pending sale this month was 7. Median price per square foot in September was $225, with a low of $118 and a high of $291. Click here to view all East Side Single Family Listings.
September 2009 Sales Single Family Homes - East Side of Providence
November 2009 Single Family Homes - East Side of Providence November saw 8 single family properties go under agreement. Scroll down to the end of this section for more analysis. November 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 87 Benefit Street | 785,000 | 3240 | 4 beds, 3 baths | 52 | Conventional |  | College Hill - Benefit St | Zoned as a two family, this property had income potential or conversion back to single family. Four car parking - not to shabby for the city - and all new mechanicals. Historic, prime location. | | 89 Halsey | 489,000 | 1838 | 4 beds, 2.1 baths | 13 | Conventional |  | College Hill near Hope High School Fields | New Mechanicals, Kitchen, nice Colleg Hill location for the price. Has integral garage. | | 131 Laurel | 798,000 | 3533 | 6 beds, 3.1 baths | 60 | Conventional |  | Freeman Plat - Blackstone Neighborhood - right off Elmgrove Ave. | Freeman Plat right off Elmgrove Ave. A house with gracios curb appeal and great bones. In need of some updates but all in all, a lovely house at great value. | | 20 Penrose | 369,900 | 1700 | 3 beds, 1.1 baths | 32 | Conventional |  | Off Blackstone - Grotto Neighborhood | Who wouldn't want a house price under $400k so close to the Blvd and Grotto ave? A great location at a first time homebuyer price. Small house in need of updates, but great location on quiet street in one of the most desirable locations on the East Side. | | 10 Woodland Terrace | 900,000 | 2706 | 2 beds, 2.1 baths | 0 | Conventional |  | Grotto Neighborhood | Sold before this went into MLS. Only a two bedroom. The highest priced sale in October. Also the highest price per square foot at $333 vs. median of $242 on the East Side. | | 228 Transit | 180,000 | 1318 | 4 beds, 2.0 baths | 98 | Conventional |  | Foxpoint | Total Rehab. Property damaged from small kitchen fire. | | 23 Chace Drive | 289,000 | 1134 | 3 beds, 1 baths | 173 | Conventional |  | Summit | Cute cape - first time homebuyer house, started out priced over $300K. When last price reduction hit, there were multiple offers. | | 402 Angell | 625,000 | 2498 | 3 beds, 2.1 baths | 89 | Conventional |  | Wayland - near Wayland Square shops | Pretty incredible remodel - stunning interior. Very busy street however - near intersection at Taber and Angell. Historic Bungalow, plaque house. | | 95 Chace | 317,500 | 1528 | 4 beds, 1.1 baths | 24 | Conventional |  | Summit | This house actually was on the market since spring, and relisted again. Relocation owner - it went under agreement once before then sold again at lower price. | | 87 Lauriston | 379,000 | 1712 | 4 beds, 1.1
baths | 13 | Conventional |  | Blackstone - off Hope Street "Hope Villiage" | First time homebuyer product. Walk to all shops on Hope Street. Has garage. | | 338 Taber | 499,000 | 1759 | 4 beds, 2.1 baths | 2 | Conventional |  | Freeman Plat/Blackstone | Brick tudo close to Nathan Bishop Middle School. Great trade up house, nice location. | | 940 Hope St. | 369,000 | 1398 | 3 beds, 1.0 baths | 18 | Conventional |  | Summit - right on Hope Street across from Blackstone park | Historic bungalow. Great location. | | 77 Elton | 349,000 | 2282 | 4 beds, 1.1 baths | 150 | Conventional |  | Wayland | Originally priced at $469,000, this house was reduced finally to $349,000 where it received multiple bids. Had settling/structural issues but great locations and good bones overall. | | 41 Laurel | 689,000 | 2973 | 5 beds, 3.1 baths | 129 | Conventional |  | Freeman Plat - Blackstone - bet. Taber and Arlington | Updated, functional layout, much space. Great trade up house, location. | | 140 Arlington | 749,000 | 2955 | 5 beds, 3.1 baths | 166 | Conventional |  | Technically College Hill (Arlington Ave is split to the West as College Hill and the East Side of the Street as Wayland or Blackstone) | One of the most admired houses around. Has great curb appeal and sits high off the street. Great value for street. |
October saw 15 single family properties go under agreement. Almost half of these would qualify as first time homebuyer products - those under $400,000. Importantly, for the first time in a long time, there were almost just as many "trade-up" houses that went under agreement. The $700K + segment, soft for most of the year saw 3 properties sell. The highest priced single family to sell during the month of October was listed for $900,000 in the Grotto Neighborhood of Providence. Scroll down to the end of this section for more analysis. October 2009 Single Family Pending Sales East Side Providence | Listing Address | Listing Price | Sq Ft. | Beds/Baths | Days on Mkt | Sale Type | Photo | Neighborhood | Comments | | 87 Benefit Street | 785,000 | 3240 | 4 beds, 3 baths | 52 | Conventional | | College Hill - Benefit St | Zoned as a two family, this property had income potential or conversion back to single family. Four car parking - not to shabby for the city - and all new mechanicals. Historic, prime location. | | 89 Halsey | 489,000 | 1838 | 4 beds, 2.1 baths | 13 | Conventional | | College Hill near Hope High School Fields | New Mechanicals, Kitchen, nice Colleg Hill location for the price. Has integral garage. | | 131 Laurel | 798,000 | 3533 | 6 beds, 3.1 baths | 60 | Conventional | | Freeman Plat - Blackstone Neighborhood - right off Elmgrove Ave. | Freeman Plat right off Elmgrove Ave. A house with gracios curb appeal and great bones. In need of some updates but all in all, a lovely house at great value. | | 20 Penrose | 369,900 | 1700 | 3 beds, 1.1 baths | 32 | Conventional | | Off Blackstone - Grotto Neighborhood | Who wouldn't want a house price under $400k so close to the Blvd and Grotto ave? A great location at a first time homebuyer price. Small house in need of updates, but great location on quiet street in one of the most desirable locations on the East Side. | | 10 Woodland Terrace | 900,000 | 2706 | 2 beds, 2.1 baths | 0 | Conventional | | Grotto Neighborhood | Sold before this went into MLS. Only a two bedroom. The highest priced sale in October. Also the highest price per square foot at $333 vs. median of $242 on the East Side. | | 228 Transit | 180,000 | 1318 | 4 beds, 2.0 baths | 98 | Conventional | | Foxpoint | Total Rehab. Property damaged from small kitchen fire. | | 23 Chace Drive | 289,000 | 1134 | 3 beds, 1 baths | 173 | Conventional | | Summit | Cute cape - first time homebuyer house, started out priced over $300K. When last price reduction hit, there were multiple offers. | | 402 Angell | 625,000 | 2498 | 3 beds, 2.1 baths | 89 | Conventional | | Wayland - near Wayland Square shops | Pretty incredible remodel - stunning interior. Very busy street however - near intersection at Taber and Angell. Historic Bungalow, plaque house. | | 95 Chace | 317,500 | 1528 | 4 beds, 1.1 baths | 24 | Conventional | | Summit | This house actually was on the market since spring, and relisted again. Relocation owner - it went under agreement once before then sold again at lower price. | | 87 Lauriston | 379,000 | 1712 | 4 beds, 1.1
baths | 13 | Conventional | | Blackstone - off Hope Street "Hope Villiage" | First time homebuyer product. Walk to all shops on Hope Street. Has garage. | | 338 Taber | 499,000 | 1759 | 4 beds, 2.1 baths | 2 | Conventional | | Freeman Plat/Blackstone | Brick tudo close to Nathan Bishop Middle School. Great trade up house, nice location. | | 940 Hope St. | 369,000 | 1398 | 3 beds, 1.0 baths | 18 | Conventional | | Summit - right on Hope Street across from Blackstone park | Historic bungalow. Great location. | | 77 Elton | 349,000 | 2282 | 4 beds, 1.1 baths | 150 | Conventional | | Wayland | Originally priced at $469,000, this house was reduced finally to $349,000 where it received multiple bids. Had settling/structural issues but great locations and good bones overall. | | 41 Laurel | 689,000 | 2973 | 5 beds, 3.1 baths | 129 | Conventional | | Freeman Plat - Blackstone - bet. Taber and Arlington | Updated, functional layout, much space. Great trade up house, location. | | 140 Arlington | 749,000 | 2955 | 5 beds, 3.1 baths | 166 | Conventional | | Technically College Hill (Arlington Ave is split to the West as College Hill and the East Side of the Street as Wayland or Blackstone) | One of the most admired houses around. Has great curb appeal and sits high off the street. Great value for street. |
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