Rhode Island Home Sales and Prices Rise in January

  According to the latest figures from The Rhode Island Association of Realtors, single-family homes sales rose 12 % in January compared with the same period last year, as the median price rose 11 % to $194,950, marking the 16th consecutive month of monthly year-over-year price gains in Rhode Island. Multi-family market sales rose 8% last month compared with January 2013. 86 sold in January and 80 during the same period last year. The median sale price also rose 8% to $125,000 last month. The condominium market was flat in January with 96 sales both last month and last year, while prices rose 3 percent year over year in January to $205,000 from $199,450.   This Week's Real Estate Insight:  Tons of snow and low inventory have certainly put some constraints on the market, but we are definitely off to a great start.