The Rhode Island Association of Realtors (RIAR) has said
that the sales in this spring’s housing market are strongest since 2008.
According to the report released by the trade group on
Thursday, the sales of single-family homes increased by 7% in April 2013
compared to the same month last year. At the same time, the median price rose
3% to $180,000.
Even Woonsocket, a nearly bankrupt city in Providence County
, floating a fiscal recovery plan which may lead property taxes to skyrocket
next year, is demonstrating healthy signs, said RIAR.
The number of single-family homes sold in the Woonsocket in
April was only four compared to 15 during the same month a year ago. But the
median sales price of a home in the metropolis witnessed a rise of 4.6%.
Bob Martin, a representative of Century 21 Crossroads
Agency, said the rise in price indicates that the demand for housing in Woonsocket,
where the home prices are comparatively lower than other parts of the state, is
drawing level with the supply.
He said that due to the vitality of the city’s economy and
the lingering uncertainty over tax rates, some foreign buyers are hesitant to
invest in the Woonsocket market with local investors driving most of the
activity here.
The realtors association has not confirmed the figures of
multi-family homes in the community in Rhode Island but said they increased as
well. The sales rose to 11% last month statewide, reversing a recession
reported in March. However, the median price of $107,000 was 16% less
than last year’s price.
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