Work on the Providence Arcade is in the final stretch. Building owner Evan Granoff says the job of rehabilitating the old shopping mall is 80 percent complete and it should be ready for occupancy sometime this spring.
The fourth quarter report on housing sales in Rhode Island during 2012 is filled with good news. The report issued by the Rhode Island Association of Realtors says that median prices for single-family homes, multi-family home and condominiums all increased. In addition foreclosures and short sales dropped for all three categories.
In the single-family home market the Association reports sales activity went up by 25 percent and the median price increased five-percent to 195-thousand-dollars. The market between buyers and sellers was evenly matched.
There is some good news for Rhode Island’s housing market. The Rhode Island Association of Realtors reports that single family home sales increased by 43% last month as compared to a year ago. The median price of 195-thousand-dollars is 1% higher than November 2011. November’s numbers also show an even balance between the supply of houses for sale and the number of potential buyers according to the RIAR.