Single-family home sales in area towns declined in August on a year-over-year basis, according to the latest report of the Rhode Island Association of Realtors. The result was similar to the statewide trend. Here are the local figures:
Westerly — 26 single family home sales closed in August, compared with 28 in August 2018. The median price was $363,700, compared with $319,950 a year earlier, and the homes averaged 43 days on the market, five days fewer than in August 2018.
Charlestown — 19 homes sold, one fewer than in August 2018. The median price was $392,100, compared with $370,000 the year before, and the houses spent an average of 59 days on the market, compared with 46 days a year earlier.
Richmond — 11 homes sold in both August of 2019 and August 2018. The median price was $349,900, compared with $374,900 one year earlier. In both years, the days-on-the-market average was 43.
Hopkinton — 7 home sales closed, compared with 11 in August 2018. The median price was $330,000, compared with $256,000 a year earlier, and the average days on the market rose to 65 from 56.
The 10 percent decline in local sales contrasts with a year-over-year gain of more than 26 percent in July, when the Realtors reported 76 closings, compared with 60 in July 2018.
Statewide in August, the association reported 1,075 single family home sales, compared with 1,143 in August 2018.
"Overall, as our economy moves along, so too does our housing market," said Dean de Tonnancourt, president of the association. "The only thing hindering us right now is the lack of properties available on the market. Regardless of what happens to interest rates over the next year, we can’t sell what we don’t have available for sale."
The Realtors reported that August listings fell to 3,676, compared with 4,021 homes for sale a year earlier. The association does not break out the number of listings on a town-by-town basis.