Dear Laura: Arthur Chapman's response is totally accurate and Raveis certainly has a great web site. Interestingly enough, in the past ( and I have been an agent since 1986) the condominium prices were the last to rise and the first to drop. We have not seen this cycle during this downturn. My educated guess is that the second home buyer often likes a condominium and this trend has stabilized prices for condominiums. The most important rule other than location is the better the condtion the higher the price and or/ speed of sale.

The price per square foot can vary greatly in different locations and quality of building. Averages can be dramatically skewed by a high end sale, and there have been a couple of $1M condo sales in the past 12 months. Check out http://arthurchapman.raveis.com/localhousingdata.asp for detailed market information on the area.

As far as relation to single family properties, I would argue the above. Newport is a very dynamic market and square foot values vary significantly from neighborhood to neighborhood. For example, northern Broadway has had a few foreclosures, thereby reducing the averages and median prices on solds. Whereas the Kay/Catherine area hasn't seen a foreclosure and prices are relatively stable.

We are experiencing very good activity as of late, the Pending Index is over 5 units per day! It was an awful winter, but we seem to be coming out of it nicely. Also, the job creation at the US Naval Base is starting to show itself to the area. There will be many more jobs and students coming to Newport in the next 12 months.

I prepare a great deal of statistics for our clients and agents. I would be happy to share them with you upon your request.

I look forward to being of service.