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Sizzling Summer Sales Hit High in Rhode Island
 
 
Sizzling Summer Sales Hit High in Rhode Island
 
Warwick, RI, September 20, 2013… According to sales statistics released by the Rhode Island Association of Realtors today, the median price of single family home sales was $225,000, up 10 percent from August 2012. Single family foreclosure and short sales dropped to 16 percent of total sales – excluding those distressed sales, the median price was $245,000. Sales activity also rose 22 percent in August from 12 months earlier, a pace not exceeded since last November.  Pending sales – or sales under contract but not yet closed – fell seven percent since August, 2012 however, likely a result of rising interest rates. 
 
"We're in a good place.  Right now, we're running on pent up demand but things will likely begin to moderate a bit.  That's not a bad thing because we don't want to see another run of unsustainable appreciation which was in no one's best interest.  We're feeling that the recovery is on a good track right now," said Victoria Doran, 2013 President of the Rhode Island Association of Realtors.
 
Condo sales saw a massive 77 percent increase in the number of sales in August from twelve months prior, though ... more

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