Rhode Island: Highest Pending Real Estate Sales in New England

Rhode Island: Highest Pending Real Estate Sales in New England

RE/MAX of New England's October Monthly Housing Report found that yearly real estate sales have increased 6.5% year over year in the region.

RE/MAX claims claims that the nice weather is helping to increase home sales by 3.5% each month, while pending sales are up 65.7% in New England.

Rhode Island home transactions* have risen 4.6% while median pricing has increased by 12%, the median cost for a home in Rhode Island has risen from $205,000 up to $229,500 from last October. 

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

Rhode Island's pending real estate sales are also the highest in all of New England, with a 23.6% increase year-over-year. 

“We’re excited to see an increase in sales across the region this month,” said Dan Breault, EVP/Regional Director of RE/MAX of New England.

“Traditionally, this time of year represents a slow-down in the housing market, but with pending sales up almost 70% and pricing holding steady, New Englanders are starting to feel the effects of a more stable economy.” 

*Transactions are the total number of closed residential (single family and condo) transactions during the given month. 

For more information please visit RE/MAX New England's site, or contact Alicia Pirraglia at [email protected].