Single-family home sales in the Westerly area are running about 4 percent behind the pace set in 2018, according to the latest figures released by the Rhode Island Association of Realtors.
Overall, in the first four months of 2019, there were 169 Realtor-reported closings in the four towns, compared with 176 in the period a year earlier. Town-by-town, 66 single-family homes sold in Westerly, compared with 74 through April of 2018. Charlestown, with 41 sales, was up one from the year before, and Richmond was down seven, to 31. Hopkintown, with 31 closings, was seven ahead of last year.
Statewide, the Realtors reported that the median price of Rhode Island single-family homes sold in April reached $275,000, 2.1 percent higher than April 2018. "Though the number of single-family homes listed for sale in April was 6.5 percent more than last year, inventory remains tight with a supply of less than four months," or 3398 listings, the association said.
Locally, 21 homes changed hands in Westerly last month, compared with 27 in April 2018. The median price was $295,000, compared with $297,500 a year earlier, and the average time the homes spent on the market was 54 days, compared with 70 days in April 2018. Here are the numbers for other area towns:
Charlestown, 9 home sales in April 2019, down from 14 a year earlier. The median price as $399,000, up from $383,500 in April 2018, and the average days on themarket as 86, compared with 69 the year before.
Richmond, 9 home sales, down from 11 in April 2018. The median price was $264,000, up from $228,000 a year earlier, and days on the market averaged 86, compared with 76 in April 2018.
Hopkinton, 7 home sales in both April 2019 and 2018. The median price was $295,000, compared with $340,000 a year earlier, and the average days on the market 59, compared with 56 in April 2018.
In his May commentary, state Realtors President Dean deTonnancourt said, “Buyers are still facing a tough time getting the home they want thanks to too much competition and too few options. Homes are going under contract at a hectic pace and prices, though slowing a bit, are still on the rise."
Statewide, the Realtors counted 815 single-family home sales in April 2019, compared with 760 in April 2018, a gain of 7.2 percent.
In the condominium market, April’s median sales price rose 10.9 percent from the prior year to $229,500. Sales activity fell 4.3 percent to 180 units, and the supply level rose to a level 4½ months, with 854 listings.