Rhode Island

Rhode Island single-family homes nearing $500,000 median sales price

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2 hours ago

October 18, 2024

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Rhode Island single-family homes nearing 0,000 median sales price

Home Buying

Homes in Rhode Island sold for a median price of $485,000 in September, which is $30,000 more than last year.

In Washington County — home to Block Island (above), North Kingstown, and South Kingstown, among other high-income enclaves — the median sales price for a single-family home was $700,000, a 19.66 percent jump since September 2023. Adobe Stock

It cost buyers $30,000 more to purchase a single-family home in Rhode Island in September than it did last fall, according to a report the state’s realtor association released Thursday.

The median sales price for a single-family home in Rhode Island was $485,000 in September, which reflects a 6.6 percent year-over-year increase.

Soaring home prices, mortgage rates that are at their highest level in two months, and a lack of inventory have put a damper on sales. “Closed sales fell by 3 percent, and pending sales … also dropped by 2.2 percent,” according to the report.

The inventory of homes “continues to creep upward” but is “still critically low,” according to the association. The state had a 2.4-months’ supply of homes on the market in September. A healthy market has at least a five.

“Each month since January 2022, pending sales have fallen compared to the previous year, a sign that housing affordability is not improving in Rhode Island,” Sally Hersey, president of the Rhode Island Association of Realtors, said in a news release. “The median sales price of single-family homes has risen year over year every month since January 2017. We desperately need to build more housing.”

Home buyers who are turning to the condo market to fulfill the American dream of homeownership shelled out nearly $48,000 more last month for a unit than they did in September 2023. The median sales price of $427,450 last month was a record and reflected a 12.52 percent year-over-year increase. Sales were down 5.3 percent, but the inventory got a bump; it’s up 31 percent year over year.

“We haven’t yet seen much of an effect from the Federal Reserve’s September rate cut on Rhode Island’s housing market. Our main problem continues to be supply. The Realtor Association is committed to supporting all viable legislative initiatives that can help in that regard in the 2025 legislative session,” Hersey said.

Some buyers purchase multifamily homes to cover their mortgages. They live in one unit and rent out the other/s. That endeavor gets more challenging by the month. The median sales price for a multifamily in Rhode Island “skyrocketed to a record $595,000” in September, an increase of nearly 25 percent.

Buyers still in the game had more listings to consider. The inventory in Rhode Island’s multifamily market increased 7.4 percent compared to September 2023.

In a drilldown into single-family home prices, the report noted that Washington County — home to Block Island, North Kingstown, and South Kingstown, among other high-income enclaves — the median sales price for a single-family home ($700,000) jumped 19.66 percent in September. The median sales price in September 2023 was a more palatable $585,000.

Providence County, home to the capital, the median sales price rose a more modest 8.64 percent to $440,000.

The only county that saw a price drop was Bristol. The median sales price of $622,753 reflects a 17.52 decrease, but that is based on only 34 sales. Compare that to Washington County (111 sales) and Providence County (345). Fewer sales can skew the results.

Eileen McEleney Woods is the real estate editor for Boston.com and editor of the Boston Globe’s Sunday real estate section (Address).

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Rhode Island

Rhode Island high school football Week 6 schedules, scores and stats

Published

10 hours ago

October 18, 2024

Press Room

Rhode Island high school football Week 6 schedules, scores and stats

Who seized wins in Week 6 of Rhode Island high school football? And who has work to do at the midway point of the season? Here’s where you can turn to find out.

The Providence Journal will be listing the final scores and as many recaps stats as we can get this weekend, so check out the scores and stats from Week 6 below!

Coaches are reminded to send in their results after each game by 10 p.m. by email — pjsports@providencejournal.com — or by calling the Sports desk at (401) 277-7340, on weeknights with the final score and game details.

Looking for streaming links?: Check out the NFHS network

Week 5 recap: Rhode Island high school football Week 5 schedules, scores and stats

Thursday’s Game

Narragansett’s defense locked in after a scoring frenzy in the first 24 minutes.

Trailing, 21-20, to open the second half, the Mariners orchestrated an 11-play drive that saw Jack Giannetto plunge in for a 2-yard touchdown. Narragansett held a 26-21 advantage on the score after the 2-point try was no good.

And that was enough for the Narragansett defense. The Mariners limited Scituate’s star running back, Paul Zolkos (23 carries for 114 yards, 3-yard touchdown rush, 8-yard touchdown rush) in the second half and pitched a shutout. Narragansett added a 37-yard field goal from Alec Hayes with five minutes left in the fourth quarter to cap the scoring.

Scituate went 11 plays on the ensuing drive, with a chance to tie in regulation, but the drive stalled out at the Narragansett 24.

Narragansett quarterback, Matt Timpson (11-of 16-for 192 yards, 7-yard touchdown rush) went into victory formation to finish out the contest. Giannetto tallied 17 carries for 85 yards and three catches for 75. Narragansett’s win gives them a bit of bragging rights in Division IV as Scituate entered undefeated.

Sean O’Brien finished 12-of-17 for 144 yards. Travis Howman finished with five catches for 83 yards and a 43-yard touchdown catch. The Spartans haveToll Gate next, while Narragansett hasNorth Smithfield.

Friday’s Games

Toll Gate at Davies, 5 p.m.

North Providence at Chariho, 6 p.m.

Middletown at West Warwick, 6 p.m.

St. Raphael at La Salle, 6 p.m.

South Kingstown at East Providence, 6 p.m.

Tolman at Mount Pleasant, 6 p.m.

Central Falls at Cranston East, 6:30 p.m.

Cranston West at Barrington, 6:30 p.m.

Rogers at Ponaganset, 6:30 p.m.

Hendricken at Central, 7 p.m.

Burrillville at North Kingstown, 7 p.m.

Cumberland at Portsmouth, 7 p.m.

Moses Brown at Westerly, 7 p.m.

Johnston at East Greenwich, 7 p.m.

Classical at Pilgrim, 7 p.m.

Stafford (CT) at Mt. Hope, 7 p.m.

Saturday’s Games

Tiverton at Juanita Sanchez, noon

North Smithfield at Hope, noon

Smithfield at Exeter-West Greenwich, 1 p.m.

Lincoln at Coventry, 1 p.m.

Shea at Woonsocket, 1 p.m.

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Rhode Island

Officials host second Washington Bridge demolition update | ABC6

Published

17 hours ago

October 18, 2024

Press Room

Officials host second Washington Bridge demolition update | ABC6

PROVIDENCE, R.I. (WLNE) — State officials hosted another public meeting on the Washington Bridge demolition after receiving criticism that the last meeting was too short.

Gov. Dan McKee and Rhode Island Department of Transportation Director Peter Alviti led the virtual discussion and took questions from the public.

Members of the public asked about demolition debris impacting nearby properties as well as why the decision was made to have the work done at night.

“Sunday night, Monday night and Tuesday night, Oct. 20 through [Oct. 22] are the last three nights that the contractor is going to be allowed to be doing nighttime hammering activity,” officials said.

It was not revealed who would be named in the lawsuit over the bridge’s failure, nor was their any update on the timeline for that lawsuit.

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Rhode Island

(VIDEO) “Space Debris” Slams Into Portsmouth, RI Mansion and Ignites Massive Blaze!!! – Newport Buzz

Published

1 day ago

October 17, 2024

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(VIDEO) “Space Debris” Slams Into Portsmouth, RI Mansion and Ignites Massive Blaze!!! – Newport Buzz

Wow! In a scene reminiscent of a sci-fi thriller, a massive fireball, suspected to be ‘space debris’, crashed into a mansion on Sea Spray Lane in Portsmouth, RI late Tuesday night, igniting a fire that destroyed the home and damaged two neighboring properties.

Surveillance footage from a nearby residence captured the dramatic moment the glowing object fell from the sky and struck the mansion, setting off a blaze that spread rapidly. Although fire crews responded quickly, the mansion was fully engulfed in flames and ultimately destroyed.

No one was injured in the fire.

@newportbuzz A sprawling 9,000 square foot mansion on Sea Spray Lane in Portsmouth caught fire Tuesday night just before 8pm, as firefighters from Portsmouth, Middletown, and Newport race to control the inferno. The massive home, which towers over the exclusive neighborhood, appears to be a total loss, with flames gutting the property in what onlookers are calling a devastating scene. The cause of the fire remains unknown, and so far, there’s no word on any injuries. The home was under construction and vacant at the time of the fire. #portsmouthri #newportbuzz #fire ♬ original sound – Newport Buzz

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