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.
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. •