SHELTON, Conn. – In Providence, the median price for a single-family home was halved in the first quarter of 2009 compared with the same 2008 quarter, fueling a 71.4 percent increase in sales. But statewide median prices fell by only 26.5 percent and quarter-over-quarter sales in Rhode Island stayed nearly even, according to William Raveis Real Estate, Mortgage & Insurance.

The median price of a home sold in Providence fell to $84,000, a 49.1-percent drop from the $165,000 median price in the first quarter of 2008, according to a monthly four-state, Multiple Listing Service inventory and sales analysis released Friday by Shelton, Conn.-based Raveis. On the other hand, the quarter’s median sale price across Rhode Island dropped 26.5 percent to $180,000.

In the first quarter of this year, 1,235 single family homes were sold in Rhode Island, nearly the same number as the 1,237 sold in the same 2008 period. But sales were still 23.5 percent lower than the 1,614 sold in the same 2007 period, according to Raveis.

But in Providence, 168 homes were sold compared with the 98 homes sold in the same 2008 quarter.

With lowered prices, the on-the-market time in Providence fell to 90 days from 97 days in the same quarter last year. Statewide, the number of days on the market inched up from 104 days to 106 days last quarter, according to Raveis, which has two Rhode Island offices.

By the end of March, there was an 11-month supply of single-family homes listed on the market statewide, but only an eight-month supply in the Providence market.

For additional information about William Raveis Real Estate, Mortgage & Insurance, which has offices in Massachusetts, Rhode Island and Connecticut, visit www.raveis.com.