Residential Properties LTD.

Infographic-January2017The Rhode Island Association of Realtors has just released its January 2017 sales statistics, reporting a strong start to the year for the Rhode Island housing market.

Single family sales increased by 21% compared to January 2016. However, at the same time, inventory continued to drop with 13.2% fewer single family homes hitting the market.

This increase in buyer activity paired with such a low inventory of homes has propelled demand, making this an excellent time to put your home on the market if you have been considering a move.

Other statistics worthy of note were condominium sales, which shot up 31.3% from this same time period last year. Multi-family home sales stayed consistent with the overall trend, rising 20% from January 2016. However, multi-family pending and were both down which hints at lower sales moving forward.

For more information on the real estate market, local communities, and current listings, please visit ResidentialProperties.com.

Steve Readey

Steve Readey

 

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