PROVIDENCE – The median sale price of a single-family home in Rhode Island increased 13.7% year over year to $290,000, the Rhode Island Association of Realtors said Friday.
Sales in the quarter totaled 2,065, a 8.3% increase from the first quarter of 2019.
“Realtors were incredibly busy in the first quarter, even through the end of March. The economy was strong, and buyers were out in full force,”said Shannon Buss, president of the Rhode Island Association of Realtors. “We had to figure out the process for getting the transactions that were in the pipeline closed very quickly. We’re grateful that everyone involved pulled together to help buyers and sellers reach the closing table, even if a literal closing table was nonexistent.”
Multifamily homes sold for a median price of $287,000 in the quarter, an 11.6% increase year over year. Total sales increased 3.1% to 433.
Condominium sales increased 6.5% year over year to 426. The median price of a condo increased 4.2% year over year to $233,950.
