R.I. single-family home sales, median price rose in December

THE RHODE ISLAND Association of Realtors reported the number of single-family home sales rose 6.2 percent in December, compared to the same month in 2015. And the median sales price climbed by 3.7 percent, to $235,900. / COURTESY RHODE ISLAND ASSOCIATION OF REALTORS
THE RHODE ISLAND Association of Realtors reported the number of single-family home sales rose 6.2 percent in December, compared to the same month in 2015. And the median sales price climbed by 3.7 percent, to $235,900. / COURTESY RHODE ISLAND ASSOCIATION OF REALTORS

WARWICK – What holiday slump?

The Rhode Island Association of Realtors reported sales and the median price for the single-family home both increased in December, and the sales volume exceeded all other Decembers on record.

The number of single-family home sales rose 6.2 percent in December, compared to the same month in 2015. And the median sales price climbed by 3.7 percent, to $235,900, the association reported.

As in previous months, the association leadership said supply of homes being listed for sale was tighter.

- Advertisement -

“We saw a tremendously active housing market last year, which continued right up to the end,” said Brenda L. Marchwicki, the 2017 association president, in a statement.

“The result of that was a growing shortage of inventory. We’re thankful for the conditions that have encouraged people to buy, but we’re hopeful that we’ll see more of a balance between supply and demand in the spring.”

The number of homes for sale in December fell almost 19 percent from the year before.

Just a little more than a 3-month supply was on the market in December.

In other markets, sale of multifamily homes fell by 11.8 percent from the year earlier, while the median price of the category rose by 21.3 percent, to $201,950.

In condos, double-digit growth in sales activity was reported. Sales volume rose 36.8 percent, while the median price climbed by 20.8 percent, to $205,400, according to the association.

No posts to display