Rhode Island single-family home sales increase 8 percent in 2nd quarter

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PROVIDENCE, Rhode Island — Sales of single-family homes increased 8 percent in Rhode Island in the second quarter of the year, and median prices are also on the rise.

That's according to the Rhode Island Association of Realtors, which says the median price in the quarter ended June 30 rose to $225,000, up 2.5 percent from the same period last year.

The group says sales of condos and multi-family homes are also up, rising 7 percent and 6 percent respectively.

The median price of a condo rose to $214,900 in the quarter, while the median price for a multi-family home rose to $167,000.

Realtors President Bruce Lane says the market shows no signs of slowing down as pending sales are also ahead of last year.

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