R.I. single-family home sales climb 21% in 2016

SINGLE-FAMILY home sales in Rhode Island climbed nearly 21 percent in 2016 compared with 2015, The Warren Group said Tuesday. / BLOOMBERG NEWS FILE PHOTO
SINGLE-FAMILY home sales in Rhode Island climbed nearly 21 percent in 2016 compared with 2015, The Warren Group said Tuesday. / BLOOMBERG NEWS FILE PHOTO

PROVIDENCE – Single-family home sales in Rhode Island climbed nearly 21 percent in 2016 compared with 2015, The Warren Group said Tuesday.

A total of 10,842 homes sold last year, while 8,975 homes sold in 2015. Year to date, the median sale price rose 3.6 percent, to $233,000, from $224,900 during the previous year.
While the median sale price rose, it is still 15 percent below the peak median price in 2006, The Warren Group said.

Single-family home sales also increased 8.3 percent in December, to 927, from 856 in December 2015.

December marked the 20th consecutive month of positive year-over-year sales growth, The Warren Group said. It also marked the highest number of homes sold in December on record (dating back to 2000).

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The median sale price of a single-family home in Rhode Island climbed 2.2 percent, to $230,000 in December, compared with $225,000 in December 2015.

“December home sales in Rhode Island continued a banner year,” Timothy Warren, CEO of The Warren Group, said in a statement.

Year to date, sales of condominiums rose 25 percent, with 1,803 sold through December, compared with 1,442 in the same period last year. Year to date, the median condo price increased 0.3 percent to $195,000, from $194,450 during the previous year.

Condominium sales in December totaled 161 sales compared with 113 in December 2015, a 42.4 percent increase, marking the 12th consecutive month of positive year-over-year sales growth.

Condo prices climbed nearly 21 percent, with a median selling price of $205,400 in December, compared with $169,900 in December 2015.

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