Home Sales Up in May

Finally, some good real estate news! Here are some facts: Single Family

• # Homes Sold increased 2.2% in May of 2009 as compared to May of 2008
• # Homes Sold increased 25.9% from April to May of this year
• # Pending Sales are up 24% from last year.
• Median Single Family sales price rose from $183,000 in April to $190,000 in May.
• Single Family Short Sale & Foreclosures are down, from 42% in April, to 34.2% in May.

Condos

• The # of condo sales rose 21% from April to May, but the median price decreased 19.7% during that time period. Just over 30% of those condo sales in May involved short sales or foreclosures.

Multi-families

• The # of Multi-family sales were up 46.2 percent from May of last year, but down 22.3% from April of this year.
• The median price of multi-family properties rose from $69,900 in April to $82,000 in May. Distressed properties account for 79.3% of these sales.

For a full analysis of the data, visit RILiving.com To read more about Mays market performance, visit Projo.com Visit Providence Business News to read real estate staff writer Kevin Shalvey's article on home sale growth