BOSTON, January 12, 2016 – Single-family home sales grew 25.1 percent in November, with 707 home sold across Rhode Island. It was the seventh straight month of double-digit sales growth, according to The Warren Group, publisher of Banker & Tradesman.
Not only did sales grow from their November 2014 mark of 683, but median sales prices also rose 2.6 percent. November 2015’s median price was $220,000, up from 214,500 in November 2014.
There were 8,143 single-family sales in Rhode Island year to date through November, a 17.3 percent increase over the 6,943 sales through the first 11 months in 2014. The median sales price through November was $224,500, up 2.8 percent from the median of $218,900 through November 2014.
“Home sales in Rhode Island have been very strong since May, show that when people could get outside after all of last winter’s snow, they wanted to look at – and buy – homes,” said Timothy Warren, Jr., CEO of The Warren Group. “The rise in sales and prices shows people are feeling a little more comfortable with their own personal economic outlook.”
Condo sale rose 22.7 percent in November, posting 108 sales compared with the 88 sales in November 2014. The median price for a condo was $189,950, a 1.3 percent decrease from the median price in November 2014 of $192,500.
Through the first 11 months there were 1,333 condos sold in Rhode Island, a 14.8 percent increase over 2014’s mark of 1,161 through November. The median price year to date was $195,000, a 2.6 percent increase over the median price through November in 2014 of $190,000.
The Warren Group has recorded and tracked real estate transactions since 1872. The fourth-generation family-owned company uses its long-time leadership in Boston real estate and banking information to produce specialized reports and news publications, including Banker & Tradesman and The Commercial Record.
With more than 140 years as a local business leader, The Warren Group has developed relationships with a variety of industry leaders and trade groups, including bankers, mortgage brokers, credit unions and lawyers. Working together with our partners, The Warren Group organizes trade shows and industry events. For more information about The Warren Group, visit www.thewarrengroup.com.
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