Despite Upturns Elsewhere, Multi-Family Home Sales Dip
Thursday, May 13, 2010
While sales rose in the Rhode Island single-family and condo markets during the first quarter of 2010, multi-family home sales dropped. Sales were down approximately 26% compared to the first quarter of 2009.
However, figures from the first quarter of 2010 show the median price of multi-family homes rose to 34%. The median price for 2010 is $107,150 compared to $80,000 in the first quarter of 2009.
Current data from RILiving.com indicates that there is a seven-month supply of multi-family properties available for sale.
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