Median Price For Single Family Home Tops $200K For First Time Since '08

Median Price For Single Family Home Tops $200K For First Time Since '08

Rhode Island's housing market continued to improve in the first quarter. Sales activity among single family homes rose five percent year over year and the median sales price increased four percent to $202,500. 

This is the first year that the first quarter median price of single family homes has topped $200,000 since 2008. 

The number of foreclosure and short sales dropped 16 percent as the market strengthened, according to Rhode Island Association of Realtors data released today. 

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Block Island saw the highest median sales price at $1.225 million, two percent higher than the previous year while East Greenwich achieved the strongest price appreciation with a 52 percent increase.  

The Rhode Island Association of REALTORS is one of the largest trade organizations in Rhode Island with approximately 4,000 members in 750 offices. The organization has been serving RI since 1948.