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Rehoboth Real Estate - The Real Estate Market in Rehoboth, Massachusetts

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Rehoboth, Massachusetts is located just a few short miles of Providence, Rhode Island. With its 10,000 person population and 46.5 square miles of land area, the population density of 247 people per square mile is a figure that indicates that Rehoboth has a great deal of room for growth. The unfortunate state of the housing market has affected Rehoboth, as the sales price of housing has dropped from their all-time high in 2007 of $400,000 to their lowest mark in the past eight years – $271,000. Rehoboth is seeing a slight resurgence, however, in the number of homes being sold as these numbers have increased by 12% over the past year.

When you consider that the median price that is asked for a house is $342,000, there seems to be a little room for buyers to have sellers come down on their price. People who rent apartments and condos pay a median price of just above $1,000, which is a pretty standard number in this part of the country.

While most of your homes in the state of Massachusetts are older Victorian-style homes, Rehoboth has homes from all different decades. Prospective home buyers are able to find homes that suit their individual styles, which has generally kept the housing prices in this area from completely bottoming out. The average house in Rehoboth will have three bedrooms and one-and-a-half bathrooms while the average rental property has between two and three bedrooms with one bathroom.

Most of the homes in the city of Rehoboth have an estimated value of somewhere between $300,000 and $750,000. The estimated price paid per rental unit is in the neighborhood of $800 to $1,500, which makes Rehoboth apartments obtainable for most any budget. As Rehoboth is generally considered to be a suburb of the Providence area, many residents find employment outside the city limits, which means that commute times in this area tend to be higher but also explains why house prices are a little higher than normal in the state.

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