Median R.I. single-family home price in Q3 increases to $295K

THE MEDIAN price of a single-family home in Rhode Island in the third quarter of 2019 increased 7.3% year over year to $295,000. / BLOOMBERG NEWS FILE PHOTO/SCOTT MCINTYRE
THE MEDIAN price of a single-family home in Rhode Island in the third quarter of 2019 increased 7.3% year over year to $295,000. / BLOOMBERG NEWS FILE PHOTO/SCOTT MCINTYRE

PROVIDENCE – The median price of Rhode Island single-family home in the third quarter of 2019 increased 7.3% year over year to $295,000, according to the Rhode Island Association of Realtors Friday.

Sales of single-family homes in the state increased 4.6% year over year to 3,221 sales. The average days on the market of a single-family home sold in the Ocean State increased 18.4% in that time to 58 for the quarter.

“Rhode Island’s housing market remains steady heading into the last quarter of the year. Low interest rates are definitely keeping potential buyers in the game,” said Dean deTonnancourt, 2019 president of RIAR.

The median price of a Rhode Island condominium in the quarter was $239,900, an 11.6% increase year over year. Sales totaled 645, roughly in line with sales in the third quarter of 2018. Sold condos spent an average of 59 days on the market in the quarter, a 9.3% increase year over year.

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Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.

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