Single-family home prices up 8 percent in 2013

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PROVIDENCE, R.I. (AP) - Single-family home prices in Rhode Island climbed 8 percent in 2013, and sales were up 10 percent from the year before.

The Rhode Island Association of Realtors said Thursday the median sales price rose last year to $205,000, from $190,000. There were 8,844 sales, up from 8,029 in 2012.

Meanwhile, the number of distressed sales fell to 1,667, from 2,020 - a drop of more than 17 percent.

The median price in the condo market was up 13 percent to $197,250 in 2013. Sales were up 29 percent.

Multifamily sale prices were up 8 percent to $130,000, and sales were flat.

Association President Robert Martin says the market made good strides overall in 2013, though it slowed in the fourth quarter.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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