Home sales, median prices dip slightly

PROVIDENCE, R.I. – Rhode Island home sales dipped slightly in January as did the median price. The Rhode Island Association of Realtors reports that existing home sales fell from 395 a year ago to 392 this year.

The median price fell to $198,000 from $200,000 the year prior.

The Realtors Association cautions that the 2010 numbers were artificially high because of a federal tax incentive. When compared to January 2009 when no incentive was available, January 2011 sales were up eight percent and the median price was up 13 percent.

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