- Associated Press - Tuesday, March 22, 2016

PROVIDENCE, R.I. (AP) - Sales of single-family homes in Rhode Island jumped 24 percent in February from the same time a year ago, and the median price rose 12 percent.

The Rhode Island Association of Realtors on Tuesday says the size of the jump may be due in part to last year’s harsh winter, which put a damper on home sales during the beginning part of 2015.

The median price of a single-family home rose last month to $217,300.

The group says Rhode Island is getting closer to a seller’s market, because the faster pace of home sales is starting to outstrip supply.

Condo sales surged 57 percent in February with the median sales price up five percent.



Sales of multi-family homes rose 31 percent and the median sales price rose nearly 10 percent.

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