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RI single family home sales up 19 percent

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November 5, 2013 11:39 AM EST | AP


WARWICK, R.I. (AP) — Sales of single-family home in Rhode Island were up 19 percent in the third quarter compared to a year ago, while the median price climbed 10 percent.

The Rhode Island Association of Realtors released the statistics Tuesday.

The jump in the median price to $218,000 was attributed in large part to fewer distressed sales. Foreclosures and short sales were down 13 percent. They accounted for 17 percent of total sales, down from 23 percent last year.

Association President Victoria Doran says the condominium market had been lagging in the recovery, but sales were up 57 percent from a year ago. The median price rose 7 percent to $199,450. Distressed sales were way down.

Multi-family home sales were up 6 percent. The median price rose 17 percent to $140,000.