Single family home prices up, sales down in RI

Published on NewsOK Modified: January 29, 2014 at 10:27 am •  Published: January 29, 2014

WARWICK, R.I. (AP) — The median sale price of single family homes in Rhode Island was up 8 percent in December, but sales fell by 2 percent from the same period a year ago.

The Rhode Island Association of Realtors said Wednesday the median price climbed to $200,000 compared to the previous December.

Realtors cited as one reason for the sales decline the partial federal government shutdown in October, which they said delayed some December closings. They also said Rhode Island had the lowest number of homes for sale since 2005.

Sales of multi-family homes were down 19 percent. Meanwhile, the median sales price climbed 25 percent to $150,000, the highest since May 2008.

Sales fell 4 percent in the condo market, and the median price was down 8 percent to $183,250.