Monday January 19, 2015
Angelo Greco's
Executive Summary
CRANSTON, RI
Single Family Homes
This Week
The median list price in CRANSTON, RI this week is $199,900.
Inventory has been lightening lately and the Market Action Index
has been trending up. Though days-on-market is increasing, these
are mildly positive indications for the market.
Real-Time Market Profile
Trend
Median List Price
$ 199,900
Asking Price Per Square Foot
$ 141
Average Days on Market (DOM)
146
Percent of Properties with Price Decrease
40 %
Percent Relisted (reset DOM)
17 %
Percent Flip (price increased)
3%
Median House Size (sq ft)
1488
Median Lot Size
6,501 - 8,000 sqft
Median Number of Bedrooms
3.0
±+
≠≠
==
Median Number of Bathrooms
Supply and Demand
Market Action Index
The market has shown some evidence of slowing recently. Both
prices and inventory levels are relatively unchanged in recent weeks.
Watch the Market Action Index for changes as it can be a leading
indicator for price changes.
±+
No change
2.0
Buyer's Advantage
28.3
±+
== Strong upward trend ≠≠ Strong downward trend
= Slight upward trend ≠ Slight downward trend
Price
Market Action Index
The market is hovering around this plateau. Look for a persistent
change in the Market Action Index before we see prices deviate
from these levels.
Price Trends
7-Day Rolling Average
90-Day Rolling Average
Buyer/Seller Cutoff
The Market Action Index answers the question "How's the
Market?" by measuring the current rate of sale versus the
amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.
Quartiles
7-Day Rolling Average
Characteristics per Quartile
Quartile
Median Price
Sq. Ft.
Top/First
$ 408,300
Upper/Second
90-Day Rolling Average
Investigate the market in quartiles where each quartile is 25% of homes
ordered by price.
Lot Size
Beds
Baths
Age Inventory New Absorbed DOM
2518
0.50 - 1.0
acre
3.0
2.5
28
72
4
3
228
Most expensive 25% of properties
$ 239,900
1537
8,001 10,000 sqft
3.0
2.0
58
72
8
6
115
Upper-middle 25% of properties
Lower/Third
$ 179,900
1307
4,501 6,500 sqft
3.0
1.5
68
73
8
3
108
Lower-middle 25% of properties
Bottom/Fourth
$ 139,900
1247
4,501 6,500 sqft
3.0
1.5
74
73
7
6
131
Least expensive 25% of properties
Angelo Greco | (401) 286-8404
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