Rhode Island Home Sales Dip While Median Prices Are On The Rise

Home sales are down in Rhode Island as the media price rises, according to a recent report.

"The number of single-family homes sold during the third quarter declined 6.7% from the same three-month period a year ago, while the median sales price rose 3.8%, according to numbers made public Wednesday by the Rhode Island Association of Realtors," according to National Mortgage News.

"The median price for houses sold in July, August and September of 2018 was $275,000, a $10,000 increase from the third quarter of 2017."

The number of homes sold is down by over 200 units compared to last years numbers. Meanwhile, the highest median home prices could be found in New Shoreham, the East Side of Providence and Jamestown, according to the report.

The report showed that Condominium prices are actually on the decline and the number of condos sold are up 5.3%.

To learn more about the dip in home sales for Rhode Island, click on the image above.

#RhodeIsland #HomeSales #MedianPrices #CondominiumSales #Trends #Statistics