R.I. home sales soar in 3Q

SINGLE-FAMILY home sales climbed 9.9 percent in September, to 1,024, and the median price also rose 0.4 percent, to $231,000, according to the R.I. Association of Realtors. / COURTESY R.I. ASSOCIATION OF REALTORS
SINGLE-FAMILY home sales climbed 9.9 percent in September, to 1,024, and the median price also rose 0.4 percent, to $231,000, according to the R.I. Association of Realtors. / COURTESY R.I. ASSOCIATION OF REALTORS

WARWICK – Rhode Island had a record-breaking quarter for sales of single-family homes.
Sales climbed 10.2 percent compared with last year for transactions recorded from July through September.
The median price rose to $245,000, up 4.5 percent, according to the Rhode Island Association of Realtors.
Buyers are apparently being motivated by historically low interest rates, an improving economy and enhanced consumer confidence, according to the association, which released its quarterly report and September results on Wednesday.
The sales volume broke all records for previous quarters in Realtor-assisted sales, said Arthur Yatsko, president of the association.
“This year has been a banner year for home sales,” he said, in a released statement. “First-time and move-up buyers and even those whose credit was hurt during the recession, are now able and willing to invest in real estate again.”
In September, 1,024 single-family houses were sold, up 9.9 percent from September 2015. The median sale price for the month rose to $231,000, up 0.4 percent.
The median sale price has climbed consistently over previous years. In September 2015, the median was $230,000. In 2014, it was $206,000.
In the condo market, sales climbed by 7.4 percent in September, to 174 units. The median price fell 7.5 percent, to $185,000, according to the association.
In the multifamily market, sales fell over the year in September by 10.9 percent, to 131 units from 147. The median price rose by 2.9 percent, to $180,000.

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