2010 Real Estate Guide
House and sky
real estate
Home values: Median prices in 12 cities

Providence, R.I.

Overview
This contemporary three bedroom, one bath, built in 1993, is located in East Providence and features an open floor plan. The living room -- with hardwood floors and vaulted ceiling -- has a fireplace with a black tile hearth and white mantle. It adjoins the dining room, which also has hardwood floors and a vaulted ceiling. The eat-in kitchen has maple cabinets, stainless steel appliances and hardwood floors.

Carpeted master suite features a "good-sized closet" and a bathroom with a large hardwood vanity, says Jane Marshall, Realtor with Re/Max River's Edge. "There's lot of storage in this house," she says. "And it's move-in ready."

The lower level is a partially finished daylight basement which offers a large media room with windows and a tile floor, as well as a hobby area with a workbench. It has a one-car garage.

Price: $229,000
Area median price: $229,700 (down 7 percent)
Amenities
3 bedrooms/1 bath
1,334 square feet
0.09 acre lot
Features
Living room with fireplace and vaulted ceiling
Hardwood floors
Media room
Listed by: Re/Max River's Edge

Price trend:
In Providence, what you can get for the money depends largely on the school district and the condition of the home, says Marshall.

In the median $229,700 range, "you'll probably get a little more if the house needs work," she says. In the median range, "a lot of the inventory is from the 1950s and the 1960s -- some have been updated and some have not," Marshall says.

In the fall of 2008, the median home price in Providence was $247,500, according to the National Association of Realtors. For the same period in 2009, it was $229,700.

For the median price in Providence, buyers can get "a really nice three bedroom, two bath," says Ron Phipps, president-elect of the National Association of Realtors and broker with Phipps Realty in Warwick, R. I. One particular buyer favorite: a fireplace, he says.

The big difference for buyers shopping the $229,000 this year? "The foreclosures and short sales are bringing all of the prices down," says Marshall. This year's buyers are getting "more square footage and better condition."

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