RHODE ISLAND ASSOCIATION OF REALTORS®, INC. "The Voice of Real Estate in Rhode Island" Press ReleaseContact: Kerry Park |
 |
|
RI Home Sales Start Off Strong in January
Warwick, RI, February 28, 2014… Rhode Island's housing market had a strong start for the year with single family homes sales rising nearly 12 percent and median price increasing 11 percent in January, despite home sales across the nation faltering last month. Rhode Island's single family home median price – the midpoint of all sales with half selling for more and half selling for less – rose to $194,950 from $175,000 a year earlier. Both sales volume and median price rose by eight percent in the multi-family market while the number of condominium sales remained the same from January, 2013 and median price rose three percent to $205,000. Sales under contract but not yet closed were down from a year ago among single and multi-family homes, indicating that the Rhode Island market may be slightly trailing national numbers which showed slower sales last month. The National Association of Realtors reported that January experienced the lowest level of sales activity since July of 2012. "The New Year started out with a bang but the supply of single family homes and condos has fallen. That, along with the winter weather that we've had, could constrain sales in the next couple of months. We're confident that we'll see the supply of homes for sale bounce back in the spring market," said Robert Martin, 2014 President of the Rhode Island Association of Realtors. |
Robert Martin2014 REALTOR® January 2014 ------------------ January 2014 ------------------ January 2014 ------------------ |
About the Rhode Island Association of REALTORS®The Rhode Island Association of REALTORS®, one of the largest trade organizations in Rhode Island with more than 5,000 members in nearly 1,000 offices, has been serving Rhode Islanders since 1948. Advocating for Rhode Island's property owners, the Rhode Island Association of REALTORS® provides a facility for professional development, research and exchange of information among its members and to the public and government for the purpose of preserving the free enterprise system and the right to own real property. Last year, RI Realtors transacted $6.9 billion in residential real estate sales and $7.1 billion in total sales and rentals including commercial transactions. The Association is one of more than 1,500 boards and associations that comprise the National Association of REALTORS® (NAR). The National Association of Realtors®, “The Voice for Real Estate,” is America's largest trade association, representing over 1.5 million members involved in all aspects of the residential and commercial real estate industries and who subscribe to a strict Code of Ethics. REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics. |
|
