PROVIDENCE – Rhode Island single-family home sales jumped 8.9 percent in July, marking the 15th consecutive month of positive year-over-year sales growth, The Warren Group said Tuesday.
A total of 1,143 single-family homes were sold in July, compared with 1,049 in July 2015. That’s the most single-family home sales sold since July 2005 when 1,066 homes were sold.
“Sales have seen quite a surge this summer,” Cassidy Murphy, editorial director of The Warren Group, said in a statement. “Buyers are taking full advantage of good inventory levels and record-low interest rates.”
The median sale price of a single-family home in Rhode Island also climbed 4.3 percent in July, to $245,000. This is the highest median sale price recorded in 2016 and the highest since June 2008, The Warren Group said.
Condominium sales rose 20 percent in July, to 192 from 160 in July 2015, marking the seventh consecutive month of positive year-over-year sales growth.
Condo prices rose 8.1 percent to a median selling price of $199,900, compared with $184,950 in July 2015. This is only the second time this year that median sale prices have seen an increase, The Warren Group said.
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