Realtors: Fewer homes for sale, more being sold
Jul. 26, 2017
PROVIDENCE, R.I. (AP) — Home sales in Rhode Island are well above 2016 levels.
The Rhode Island Association of Realtors said Wednesday that sales of single-family homes rose 3.7 percent during the second quarter of the year from the same period a year ago, while median prices jumped 7.5 percent.
The median price of a home was $258,000, compared to $240,000 in the April through June period of 2016.
Association President Brenda Marchwicki says there are fewer homes on the market than a year ago, leading to quick sales and multiple offers, especially in the starter home market.
She says it appears that better economic conditions and the fear of rising prices are motivating factors.
There were 3,116 homes sold in the quarter, compared to 3,004 during the same period last year.