House sales in Rhode Island increased by nearly 15 percent in the first quarter, compared with the same period in 2015, "making 2016 the best first quarter for single-family house sales since 1986, when the Rhode Island Association of Realtors began keeping sales records."

1. Providence 42° All Access | Activate | Sign In | eEdition | Subscriber Services
| EXPLORE »
NEWS NOW
R.I. house sales break record in
first quarter
COMMENT
AP Photo/John Bazemore
By Christine Dunn
Journal Staff Writer Follow
Posted Apr. 27, 2016 at 12:01 AM
PROVIDENCE, R.I. — House sales in Rhode Island increased by nearly 15 percent in the first
quarter, compared with the same period in 2015, making 2016 the best first quarter for single­
family house sales since 1986, when the Rhode Island Association of Realtors began keeping
sales records.
The association reported Wednesday that there were 1,906 house sales in the first quarter,
which beat the record set in 2005, when there were 1,825 first­quarter sales.
Association president Arthur Yatsko attributed the sales spike to multiple factors, including high
rental prices, low interest rates, and price appreciation that has enabled many people who used
to be "underwater" to make a move. Yatsko said people who have previously experienced short
sales and even foreclosure have been able to become owners again.
The median sales price of Rhode Island houses sold in January, February and March was
$225,000, up 12.5 percent from the same period in 2015.
POPULAR EMAILED COMMENTED
Search business by keyword Search
Add your business here +
TOP CLICKS
Sanders wins Democratic presidential
primary in Rhode Island Apr. 26, 2016
Independents play key role in R.I. wins
Apr. 26, 2016
Pick­your­own tulip farm in Johnston opens
to public Apr. 26, 2016
Editorial: Angry R.I. voters pick Sanders,
Trump Apr. 26, 2016
Cause of death of South Kingstown's Alicia
Storti released Apr. 25, 2016
State police to investigate video of
confrontation at Trump rally in Warwick
Apr. 26, 2016
RHODE ISLAND DIRECTORY
Featured Businesses
E­EDITION
TODAY'S eEDITION
Read Subscribe
f
Search
HOME NEWS POLITICS SPORTS BUSINESS OPINION ENTERTAINMENT OBITS MARKETPLACE JOBS CARS HOMES
Wed, April 27, 2016 » WEATHER THINGS TO DO RACE IN R.I. MARKETS LOTTERIES PREMIUM CONTENT BUSINESS SERVICES PHOTOS TV GUIDE
... French prosecutor: Key Paris attacks suspect moved to France ... This new street drug is 10,000 times more toxic than morphine, and now it's showing u
7 25Recommend
Portsmouth Abbey & School
Cardi's Furniture
Alexander's Uniforms
Saint Antoine Residence Villa
Hollywood Collectibles
Find Rhode Island Attractions
2
▼

2. "In many towns we’re seeing a bit of a seller’s market because of a diminishing supply of
inventory," Yatsko noted.
Several communities did particularly well in the first quarter of 2016.
Jamestown saw a 133­percent increase in sales, with 21 houses sold in the first quarter, up from
9 in the first quarter of 2015. Bob Bailey, a Jamestown resident who works for Lila Delman Real
Estate International, said many of those sales have taken place in Jamestown village, not the
higher­end East Shore Road and Beavertail neighborhoods. The median house price in
Jamestown, at $600,000, rose less than 1 percent.
Providence also had an active first quarter, with sales on the East Side up 68 percent, and sales
in the non­East Side sections of the city up nearly 40 percent. The East Side median price was
$425,000 (up close to 7 percent), while the median house price climbed 17 percent for the rest
of the city, to $135,000.
Woonsocket experienced a 56­percent jump in sales, but the median price fell nearly 6 percent,
to $125,000.
In Cranston, sales were up by nearly 23 percent, while the median house price increased nearly
9 percent, to $191,500; in Warwick, sales went up 17 percent, and median price also increased
by 9 percent, to $185,000.
Condominium sales increased 22 percent in the first quarter, and the median sales price went up
less than 1 percent, to $191,250. Multifamily sales were up 12.3 percent, and median price
increased 8.3 percent, to $166,250.
cdunn@providencejournal.com
(401) 277­7913
On Twitter: @ChristineMDunn
» Comment or view comments
7 Comments
Login | Signup
Top Video Headlines
of 3
Submit Vote VIEW RESULTS
Sign up for our newsletter and have
the top headlines from your
community delivered right to your
inbox
» EVENTS CALENDAR
WED THU FRI SAT SUN MON TUE
All Day
All Day
10:00 am
10:00 am
10:30 am
More Events » Add Events »
Wednesday, April 27, 2016
“Shakespeare Plays in
Rhode Island”
John Hay Library, Brown University
April Events at
Providence Children's
Museum
Providence Children's Museum
Earth and Water
Providence Children's Museum
Wednesday Story
Time
Portsmouth Free Public Library
Birds from Down
Events by eviesays.com
NDN
TAKE OUR POLL
Should Tom Brady appeal or serve his 4­
game suspension and move on?
Appeal
Take the suspension and move on
EMAIL NEWSLETTER
Six Times
Empire's Lucious
Lyon Reminded
Us He's Basically
the Devi...
Billy Bush Is
Leaving Access
Hollywood Live
for Today
powered by:
More videos:
Ominous Note Scrawled Inside Home
Of Murdered San Jose Couple
CBS San Francisco

3. NewestFollow
Show 1 older reply
SIGN UP TODAY
ERROR: Macro section­
content/home/rightrail/apsports is missing!
Connect with providencejournal.com Facebook Twitter RSS Back to top
Write your comment here
Terms of ServiceUpload video Upload image Submit
User7046700001097 Rank 8
Where are all you haters who said people were leaving this state? Lemme see.....if
people are selling...the people are buying.....and if people are buying....then they're
living in this state....
so ..... if you are an EARNER, then you can afford to buy a house....
...amazing how that works......
Not to mention the number of new houses....hmph.....go figure....
1 hour ago Likes0 Like Reply Share
State of Confusion Rank 3
Sales were up. Prices were up (except for Woonsocket). Who bought all these
affordable houses?
2 hours ago Like1 Like Reply Share
Frank T. Jones Rank 0
@State of Confusion
I would guess that they were bought by working people who have placed
their bets on Rhode Island. You cup­half­empty, none­too­bright
negativists who contribute nothing but hate and vitriol must be very
puzzled.
1 hour ago Likes0 Like Reply Share
Henry B Chafee Rank 0
I wonder why there were soooooo many houses for sale in the first place? Earners
are getting O U T of here.
4 hours ago Likes3 Like Reply Share
Henry B Chafee Rank 0
@Tom Richardson
Who could blame you?
2 hours ago Likes2 Like Reply Share
Frank T. Jones Rank 0
@Henry B Chafee
Apparently there are just as many earners who think it's a good place to
live, you nitwit.
1 hour ago Likes0 Like Reply Share
Be the first of your friends to like this
The Providence Journal
A 167­page report, 41 recommendations
on reducing long­term deficits ... and a
day later, criticism and consideration.
1 hr
Providence budget deficit…
The Providence Journal
57,975 likes
Like Page Contact Us

4. All Access
Subscribe
Vacation
Stops/Restarts
Make a Payment
Contact Us
eEdition
Subscriber
Services News Tips
News Editors
Twitter
Newsroom
About Our Advertising
Display Ads
Classified Ads
Media Kit
Contact Us
Advertising
FAQs
Contact Us
Site Services
Propel Marketing Sign up for News Alerts Archives Newsletters Summertime Fund
Email newsletter Sign Up Today
Sign up for our newsletter and have the top
headlines from your community delivered right
to your inbox.
Stay Informed
Your privacy is important, read our privacy policy.
© Copyright 2006­2016 Gatehouse Media, LLC Some rights reserved Privacy Policy | Terms of Service | Gatehouse Media Publications
Original content available for non­commercial use under a Creative Commons license, except where noted.
providencejournal.com | 75 Fountain St., Providence, RI 02902