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ProJo: R.I. real estate: 2017 — a really hot market

on January 18, 2018 in Burrillville, Central Falls, Coventry, Cranston, Cumberland, East Providence, Glocester, Jamestown, Johnston, Little Compton, New Shoreham, Newport, North Providence, North Smithfield, Pawtucket, Providence, Smithfield, Warren, West Warwick, Westerly, Woonsocket by Amy Cola
By Christine Dunn 
Journal Staff Writer 

Posted: Jan 18, 2018 at 12:01 AM

Sales rose again, median price was up 6% and days on market fell, too. Biggest problem was lack of inventory, particularly in the starter home market.


PROVIDENCE — House sales increased in Rhode Island for the fifth consecutive year in 2017, creating a “hot” market despite falling inventory, according to the Rhode Island Association of Realtors.

In a report released Thursday, the association said 2017 single-family home sales reached 11,282, “eclipsing previous records,” and the median house price was $255,000, a 6-percent increase compared with 2016. The median price is still short of that reached for the boom year of 2005, $282,900. After the banking crisis in 2008, the median price fell, reaching a low of $190,000 for 2012.

There were 11,066 homes sold in Rhode Island in 2016, so the 2017 statistics show an increase in sales volume of nearly 2 percent, the association said.

To view the complete article, visit Providence Journal 

Courtesy of Providence Journal 

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