Jan. single-family home sales up 21%

PROVIDENCE – The limited supply of houses for sale in Rhode Island continues to narrow, according to the latest statistics released by the Rhode Island Association of Realtors.

The association reported Feb. 28 that listings of single-family homes in January fell to 3,194, down 13 percent from the previous January, and down 17 percent from January 2015.

The tight supply of available inventory has tipped much of the state into a seller’s market, and is threatening to subdue sales activity. The number of pending sales, which foretell activity for the months ahead, fell in January for the second straight month, the association reported.

In January, the number of single-family houses sold in Rhode Island increased by 21 percent, compared to January 2016. The median sale price was $225,000, a slight drop from the $226,500 recorded the prior year. •

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