RI home sales dip, prices rise in 2nd quarter

Rhode Island single-family home sales dip, but prices rise in 2nd quarter

Associated Press

PROVIDENCE, R.I. (AP) -- The number of homes sold in Rhode Island during the three-month period ended in June fell, but the median price of homes sold during the period was up.

The Rhode Island Association of Realtors says on Wednesday that the number of sales dropped 4 percent in the quarter from the same period in 2013, while the median sales price rose to $220,000, an increase of 5 percent.

Robert Martin, president of the group, says sales had been at a frenzied pace for a while, but now the market is getting back to normal.

The group says condominium sales dipped 5 percent and the median sales price fell 6 percent, to around $190,000.

Multifamily home sales also fell, by 3 percent, but the median price rose by 14 percent to $145,000.

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