Warren Group: Home, condo sales climb in November in R.I.

SINGLE-FAMILY home sales in Rhode Island rose 25.1 percent in November compared with November 2014, according to The Warren Group, publisher of Banker & Tradesman. / COURTESY THE WARREN GROUP
SINGLE-FAMILY home sales in Rhode Island rose 25.1 percent in November compared with November 2014, according to The Warren Group, publisher of Banker & Tradesman. / COURTESY THE WARREN GROUP

(Updated 3:16 p.m.)
PROVIDENCE – Single-family home sales in Rhode Island jumped 25.1 percent in November compared with November 2014, marking the seventh consecutive month of double-digit sales growth, according to The Warren Group, publisher of Banker & Tradesman.
There were 707 homes sold in the Ocean State in November compared with 565 during the year-ago period.
The median sales prices also climbed, 2.6 percent to $220,000 in November compared with $214,500 in November 2014.

For the first 11 months of the year, there were 8,143 single-family home sales, a 17.3 percent increase compared with the 6,943 sales through the first 11 months in 2014. The median sales price through November was $224,500, a 2.8 percent increase from the median of $218,900 through November 2014.

Timothy Warren Jr., CEO of The Warren Group, said home sales in Rhode Island have been very strong since May.
“The rise in sales and prices shows people are feeling a little more comfortable with their own personal economic outlook,” Warren said in a statement.

Condominium sales also rose in November, climbing 22.7 percent, to 108 sales compared with 88 a year ago. The median price for a condo was $189,950, a 1.3 percent drop from the $192,500 median price in November 2014.

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Through November, there were 1,333 condos sold in Rhode Island, a nearly 15 percent increase compared with 1,161 sold through November 2014. The median price year to date climbed 2.6 percent to $195,000, compared with $190,000 during the prior-year period, The Warren Group said.

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