Busiest November for home sales in 12 years

SINGLE-FAMILY home sales in the Ocean State climbed nearly 30 percent in November to 910, the highest November total recorded in 12 years, The Warren Group said. / BLOOMBERG FILE PHOTO/DANIEL ACKER
SINGLE-FAMILY home sales in the Ocean State climbed nearly 30 percent in November to 910, the highest November total recorded in 12 years, The Warren Group said. / BLOOMBERG FILE PHOTO/DANIEL ACKER

PROVIDENCE – Single-family home sales in the Ocean State climbed nearly 30 percent in November to 910, the highest November total recorded in 12 years, The Warren Group said Tuesday.

The Warren Group said November also marked the 19th consecutive month of positive year-over-year sales growth.

In November 2015, 703 single-family homes were sold.

“Sales in Rhode Island continue their strong run,” Timothy Warren, CEO of The Warren Group, said in a statement. “The recovery of the Rhode Island real estate market for the past two years has been extraordinary, surpassing the gains seen in the neighboring states of Connecticut and Massachusetts.”

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Year to date, 9,915 homes have been sold compared with 8,119 during the same period last year, a 22.1 percent increase.

The median sale price of a single-family home in Rhode Island rose 6.8 percent to $235,000 in November from $220,000 in November 2015. Year to date, prices rose 4.2 percent to $234,000, compared with $224,500 during the same period last year.

There were 157 condominium sales in November compared with 108 in November 2015, a 45.4 percent jump. This marks the 11th consecutive month of positive year-over-year sales growth. Year to date, sales of condos have risen 23.5 percent, with 1,642 sold through November compared with 1,329 in the same period last year.

Condo prices rose 15.8 percent, with a median selling price of $220,000, compared with $189,950 in November 2015. Year to date, the median price of a condo fell 0.5 percent to $194,000 from $195,000 at the same time last year.

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