Home values: Median prices in 12 cities

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Providence, R.I.

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)

  • 3 bedrooms/1 bath
  • 1,334 square feet
  • 0.09 acre lot
  • Living room with fireplace and vaulted ceiling
  • Hardwood floors
  • Media room

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.”