Market Conditions for Warwick, Rhode Island Reported by Steve Gillikin, REALTOR, GRI, CRS, CRP, ABR and E-Pro Updated May 8, 2012.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

Warwick Single Family Monthly Real Estate Sales Report for the month of April 2012:

Number of homes on the market: 419, down from 436 last month. Average list asking price: $271,223, up from $256,003 last month. Average days on market of homes for sale: 108, down from 124 last month.

Number of homes under contract: 254, up from 218 last month. Average list price of homes under contract: $156,040, down from $151,583 last month. Average days on market of homes under contract: 96, up from 95 last month.

Number of homes closed sale: 68, down from 79 last month. Average selling price: $146,612, down from $147,890 last month. Average days on market of sold homes: 72, down from 83 last month.

ZIP Codes: 02886, 02888, 02889

Approximate Location Boundaries: South of Cranston, North of East Greenwich, East of West Warwick

Location Characteristics: The city of Warwick was founded January 12, 1642, when Samuel Gorton, and a dozen friends purchased more than 100 square miles of land from the Mahament Indians, a local branch of the great Nanhiganset nation. These new settlers made their home in what today is referred to as Shawomet, or Old Warwick, at the head of the Old Warwick Cove. The city was reduced in land size by the loss of Coventry in 1741 and West Warwick in 1913. This left Warwick half of its original size, or 50 square miles. The settlement took its name "Warwick" in honor of the Earl of Warwick, who was instrumental in gaining an official charter in 1647.

Today, Warwick is the second largest city in Rhode Island. The city is situated at the center of the state's super-highway system. Theodore Francis (T.F.) Green State Airport is located there and is the state's largest commercial air terminal. Two large shopping malls are also located in Warwick. Warwick offers many educational, recreational and cultural opportunities. The Knight Campus of Community College of Rhode Island, a state-supported facility, is located in the western section of Warwick. Goddard Memorial State Park, one of the largest parks in Rhode Island is located in the Potowomut section of Warwick. The park offers picnic areas, accented with activities such as golfing and salt water bathing. Warwick's central location in Rhode Island as well as the easy access for air travel, has made the city a prime area for further industrial, commercial and population growth.

Mostly a blue collar city of small and affordable homes. Many locations along the waterfront of Narragansett Bay and are more affluent. The area of Cowessett along the East Greenwich border is a more affluent area as well. Home to the principle state airport in the center of the city. Most major shopping along Rt 2 Bald Hill Rd. Many commercial and retail areas. 2 major malls. Accessable via RTs 95, 37 and 295 all through the center of the city.

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I am a licensed Broker in RI & MA. I've been a professional Realtor for going on 30 years. I've sold well over 1,200 properties during my career.

I am a Graduate of the Realtor Institute. There are only 485 out of close to 4,800 licensed agents and brokers in RI who earned the GRI designation. I am a Certified Residential Specialist. There are 123 agents who have earned their CRS designation. I am a Certified Relocation Professional. There are only a few who have taken the courses to obtain this CRP designation. I am an Accredited Buyers Representative. There are only 115 that have the ABR designation. I have also obtained a E-Pro designation. There are 72 E-Pros in RI. I am one of 5 to hold 4 of these and the only one to be certified in 5 areas. This shows achievements in using a higher level of technology to serve my buyer and seller clients. Finally, I specialize in distressed property sales, both short sales and REOs. I've sold over 150 of these hardship case properties over the past 3 years.

All of these designations are recognized by the National Association of Realtors.

I can help you in all aspects of real estate in RI and nearby Mass., whether selling, buying, building or investing.

Please call me or e mail me to answer any questions you may have. Thank you... Steve Gillikin