Realtors: Home sales up but activity slowing

WARWICK – Residential sales activity began to moderate in June from previous highs, possibly reflecting tighter inventory of houses listed for sale, according to the Rhode Island Association of Realtors.

Single-family home sales in the Ocean State rose by 2.6 percent in June, as compared to the previous June. The median sales price climbed 3.6 percent to $245,000.

Although the trend was upward, activity was less brisk than in previous months. Both sales and median-price activity jumped by double-digits for most of the first half of the year, according to Arthur Yatkso, president of the Realtors association.

The state had a total of 4,662 houses listed for sale in June, 13.7 percent fewer than the 5,403 listed last June.

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The multifamily market remained flat, with 0.65 percent more sales than the previous year. The median sales price rose 8.8 percent to $185,000.

In condominiums, sales increased 22.1 percent. Median sales fell 5.3 percent to $207,900. •

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