PROVIDENCE – Single-family home sales in Rhode Island rose 24 percent in February, and median prices climbed as well, both indications of what the Rhode Island Association of Realtors described as a “robust market.”
The median sales price increased by 12 percent to $217,300 in February, compared to February 2015. The number of single-family home sales rose to 595, compared to 491 last February.
In addition, pending sales rose 19 percent, according to Art Yasko, state president of the association.
Multifamily sales also rose dramatically, up 31 percent. Twenty-two percent of the sales were distressed sales, falling from 30 percent in February 2015.
The median price of a multifamily structure reached $165,000, up from $150,500 last year.
Condo sales rose 57 percent in February, with 107 units sold. •
