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RI home sales flat, prices up 3 percent

PROVIDENCE, R.I. (AP) -- Sales of single-family homes in Rhode Island in the fourth quarter of last year were relatively flat compared to the same period in 2012, while the median price rose 3 percent.

The Rhode Island Association of Realtors said Thursday there were 2,172 sales from October through December, up 1 percent from the same period a year earlier. The median price rose to $201,000, from $194,800.

The number of distressed sales fell to 138, from 485.

Condominium sales were up 2 percent, and the median price rose less than 1 percent to $195,000.

Multifamily sales were flat, with the median price climbing 17 percent to $139,900.

Association President Robert Martin says the market slowed in the fourth quarter but made good strides overall in 2013.