Home Sales Surging Back In Rhode Island

Nov 27, 2013

October was another good month for home sales in Rhode Island.

Home sales have surged back in Rhode Island.
Credit Courtesy RI Housing

The sale of single family homes in Rhode Island rose 19 percent between October 2012 and October 2013. During the same time frame the median price rose from $200,000 to $204,000.  Sales of condos rose 11 percent over the year and the median price is up 17 percent.

Rhode Island Association of Realtors president Robert Martin said growth in the housing market is slow and steady with no negatives.

"The market is getting better slowly which is the way that we would like to see it go as opposed to having a big hiccup and then having some retrenchment," said Martin.

It now takes an average of 89 days to sell a house in Rhode Island. That’s down from 104 days last year.