South County home sales up 16 percent from last October

South County home sales up 16 percent from last October



Single-family home sales in South County were up 16.4 percent in October, compared with the same month in 2016, according to data on closings reported this week by the Rhode Island Association of Realtors. Here are the results from local towns:

Westerly: 30 homes sold, one more than in October 2016. The median price was $338,450, compared with $325,000 a year earlier, and the properties were on the market for an average of 80 days, one day more than October 2016. There were two “distressed sales” (a category that includes foreclosures and underwater sales); last year there was one.

Charlestown: 24 homes sold, compared with 15 one year ago. The median price was $416,250, compared with $315,000 last year, and the average days on the market was 56, down from 80 in October 2016. There was one distressed sale; last year there were none.

Richmond: 15 homes sold, two more than last year. The median price was $287,500, up from $238,000 a year ago, and the average days on market was 57, compaed with 67 in October 2016. There was one distressed sale; last year there were none.

Hopkinton: 4 homes sold, compared with 9 last year. The median price was $220,250, compared with $234,900 a year ago. Two of the sales were distressed; last year there was one.

South Kingstown and North Kingstown were the volume leaders with 39 closings apiece, and Block Island registered an unusually high number of sales, with 7 transactions and a median price that slipped below $1 million. But at $910,000, the median price for Block Island homes still led Rhode Island. Little Compton was next at $890,000.

Statewide, the Realtors reported 1,038 single-family home closings, a gain of 8.6 percent from October 2016. Rhode Island continues to see a diminished inventory, with 3,615 listing reported in October, compared with 3,960 a year earlier. The statewide median price was $264,950 last month, compared with $235,000 in October 2016.

Monthly sales of condos in October totaled 221, up 44 percent from a year earlier. The median price was $199,900, down from $218,000 last year. There is no town-by-town breakdown of condominium transactions.

blauxbachand@thewesterlysun.com


 
 
Advertisement

Latest Videos

X