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RI single-family home sales up 35% in April

Sales of single-family homes in Rhode Island rose 35 percent in April from a year ago, and the median price rose 21 percent to $241,000.

The Rhode Island Association of Realtors on Friday says condo sales also rose 18.5 percent, and the median sales price rose nearly 9 percent to around $197,000.

Multifamily home sales, however, fell by nearly 14 percent, though the median price rose nearly 10 percent to $180,000.

The group says there are some signs of a slowdown. It says pending sales in April rose just 2.5 percent, an indicator of the market in the months to come.

The group's president, Arthur Yatsko, says the market has a five-month supply of homes for sale, which remains nearly balanced between supply and demand.



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