Most recent median home sales in Providence County up at $400,000
Newly released data for July shows that potential buyers and sellers in Providence County saw houses sell for higher than the previous month's median sale price of $385,000.
The median home sold for $400,000, an analysis of data from Realtor.com shows. That means July, the most recent month for which figures are available, was up 3.9% from June.
Compared to July 2022, the median home sale price was up 0.1% at $400,000 compared to $362,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.providencejournal.com.
Looking only at single-family homes, the $400,000 median selling price in Providence County was up 1.3% in July from $395,000 the month prior. Since July 2022, the sale price of single-family homes was up 0.1% from a median of $365,000.
Seven condominiums or townhomes sold for $1 million or more during the month, compared to seven recorded transactions of at least $1 million in July 2022.
Condominiums and townhomes increased by 7.4% in sales price this July to a median of $349,000 from $325,000 in June. Compared to July 2022, the sale price of condominiums and townhomes was up 0.2% from $299,892. One homes sold for $1 million or more during the month, compared to one recorded transactions of at least $1 million in July 2022.
In July, the number of recorded sales in Providence County dropped by 0.3% since July 2022 from 660 to 406. All residential home sales totaled to $175.9 million.
In Rhode Island, homes sold at a median of $421,900 this July, up 1.7% from $415,000 in June. There were 758 recorded sales across the state this July, down 0.3% from 1,097 recorded sales in July 2022.
The total value of recorded residential home sales in Rhode Island decreased by 23.8% from $510.3 million in June to $389 million this July.
Out of all residential home sales in Rhode Island, 0.1% of homes sold for at least $1 million in July, up from 0.04% in July 2022.
Sale prices of single-family homes across Rhode Island the same as $425,000 in June. Since July 2022, the sale price of single-family homes across the state was up 0.1% from $395,000.
Across the state, the sale price of condominiums and townhomes rose 9.1% from a median of $347,500 in June to $379,000 this July. The median sale price of condominiums and townhomes is up 0.2% from the median of $318,700 in July 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared on The Providence Journal: Most recent median home sales in Providence County up at $400,000
