RI median home price jumps 9 percent in March

Rhode Island median home price increases 9 percent in March to $190,000, sales activity slows

Associated Press

WARWICK, R.I. (AP) -- New housing data show that home prices continued to rise in Rhode Island last month.

The Rhode Island Association of Realtors released a report Friday showing that the median price of a single-family home in the state increased 9 percent to $190,000 in March, compared with the same month last year.

Nearly 600 homes were sold last month — a 2 percent drop from the previous March — while the number of homes available for sale declined by 16 percent.

Association of Realtors President Victoria Doran says the condominium market has seen a robust recovery. The median condo price in the state jumped 38 percent to nearly $178,000 in March compared with the same month last year. Condo sales increased 31 percent last month from the previous year.

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