Wyszukiwanie zaawansowane

Znaleziono 0 wyniki. Pokaż wyniki
Twoje wyniki wyszukiwania

The Real Estate Market in Johnston, Rhode Island

Opublikowano przez Adam Nowacki włączony 19 września, 2023

The real estate market in Johnston, Rhode Island is experiencing a surge in activity with the listing of a 900-square-foot condo priced at $200,000. Real estate agent Beatrice Whitman believes the attractive pricing is aimed at securing a quick sale. The condo is considered „extremely affordable” compared to the current median price of condos in the state, which is $340,400. It also has a monthly condo fee of $349 that includes heat.

Affordable condos and homes have become increasingly scarce as real estate prices have risen since the pandemic. The Providence Journal has compiled a list of the most affordable communities for buying condos or multi-family homes. Pawtucket stands out as one of the most affordable communities for single-family homes and condos, although it’s not as affordable for multi-family homes. In contrast, Warwick, West Warwick, and North Providence are affordable options for buyers across all three categories.

Condos and multi-family homes are often seen as more affordable alternatives to single-family homes due to their relatively lower prices. In the first half of the year, the median price of a condo in Rhode Island was $340,400, while a single-family home had a median price of $412,000. Multi-family homes used to be priced similarly to single-family homes but were considered more affordable because of the potential for rental income. However, their prices have increased by 67% since 2019.

While multi-family homes have seen a surge in prices, Beatrice Whitman advises potential buyers to exercise caution due to the significant increase in costs. It is important to consider a property’s affordability beyond the purchase price by taking into account interest rates and monthly mortgage payments. Thorough research and appropriate pricing are key to ensuring the long-term viability of purchasing a multi-family home.

Porównaj oferty