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May 4, 2017
R.I. CONDO/SINGLE-FAMILY HOME SALES SET NEW RECORDS IN FIRST QUARTER
R.I. CONDO/SINGLE-FAMILY HOME SALES SET NEW RECORDS IN FIRST QUARTERWarwick, R.I., May 3, 2017…Despite diminishing inventory, single-family home sales broke all records in the first quarter, rising an additional two percent from the past record set in the first quarter of 2016. The median selling price of homes sold also increased to $230,000, a 2.2 percent gain. Condominium sales rose 21.2 percent from the prior year, also reaching new heights since the Rhode Island Association began publishing quarterly condominium sales in 2007. There were 394 condos sold in Rhode Island from January to March with a median sales price of $195,000, a two percent gain compared to the first three months of last year. Likewise, multifamily property sales increased substantially, rising 10.6 percent year-over-year. The median sales price rose 9.7 percent to $181,000. “Strong demand buoyed by enhanced financial health and increased consumer confidence is moving homes off the market quickly, particularly in the category of homes coveted by first-time buyers and downsizing empty nesters. Buyers are facing a lot of competition so they need to begin their home search prepared. By the same token, sellers need to be ready to move quickly,” said Brenda L. Marchwicki, President of the Rhode Island Association of Realtors. Realtor statistics show that the number of days properties stayed on the market in the first quarter fell by double digits among all three sectors from a year ago, falling more than 13 percent in the single-family home market, and nearly 20 percent in the condominium and multifamily home markets. “We may see sales start to temper a little bit as we move further down the road due to the low supply of homes for sale,” cautioned Marchwicki. “While the quarter started off with strong sales in January, that activity began to wane in February and March. There simply aren’t enough properties on the market to keep up with demand.” |
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About the Rhode Island Association of REALTORS®The Rhode Island Association of REALTORS®, one of the largest trade organizations in Rhode Island with nearly 5,000 members in approximately 800 offices, has been serving Rhode Islanders since 1948. Collectively, RI REALTORS® transacted more than $4.5 billion in real estate sales last year. Advocating for Rhode Island's property owners, the Rhode Island Association of REALTORS® provides a facility for professional development, research and exchange of information among its members and to the public and government for the purpose of preserving the free enterprise system and the right to own real property. The Association is one of more than 1,400 boards and associations that comprise the National Association of REALTORS® (NAR). The National Association of Realtors®, “The Voice for Real Estate,” is America's largest trade association, representing over 1.1 million members involved in all aspects of the residential and commercial real estate industries and who subscribe to a strict Code of Ethics. REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. |
May 4, 2017
How to Incorporate Oscars Glamour into Your Home
If you love to watch the glitz and glam that surrounds awards ceremonies, then this weekend might be the most wonderful time of your year. Sure, you can host a viewing party to “ooo” and “aah” at celebrities’ outfits, but have you considered making your house just as swoon worthy? Try some of these tips to incorporate a glam style into your home that may last longer than just the awards night.
Roll Out the Red Carpet
An actual red carpet might be a bit much, but you can still hint at the iconic pathway with splashes of its deep, red hue. Follow the 60-30-10 rule, where your main decorating color takes up 60 percent of the space, your secondary color takes up 30 percent, and your accent color, 10 percent. Keep the red carpet vibe as an accent, and bump up it up to with pillows, throws, and candles in the vibrant color.
Dress Up in Black Tie
If you feel elegant when you dress in black, why don’t you apply the same dress code to your home? Consider painting a few pieces of furniture, such as a kitchen table set or a dresser. Be sure to apply a deglosser beforehand, so that the surface can accept new paint. Always use gloves, and work in a well ventilated area.
Shine like a Diamond
While diamonds aren’t the most practical item to incorporate into your home, you can capture their light reflecting qualities with a few tricks. Hang mirrors near light sources, such as near a lamp or across from a window and replace your coffee table with a glass one. The light reflected from the mirror can flow through the glass and potentially brighten up the whole room.
Set a Gold Standard
A bit of glittering gold is sure to catch the eye of anyone in your home, so add some sparkle where you can. Replace the hardware on cabinets and drawers with gold metallic ones — it’s an easy project that can refresh the whole look and feel of your room. Most hardware will have a clear coating to protect the metal from oxidation, so be sure to protect that outer layer when cleaning. Use a soft damp cloth to wipe them down and stay away from acid based cleaners.
With this décor style, your home may be award-worthy every day of the year.
