The price of single-family homes has risen in Rhode Island, but sales have fallen, The Associated Press reports.
The Rhode Island Association of Realtors said Thursday that the price of single-family homes rose 11 percent in May from the previous month and 5 percent, compared to a year ago.
The median price stood at $210,000, up from $199,500 a year ago. The price of multi-family dwellings also rose 11 percent compared to May 2010, while condominium prices fell 1 percent.
But sales were down in all three categories. There were 10 percent fewer single-family home sales in May, compared to a year ago. Multi-family sales were down 6 percent and condo sales were down 2 percent.
So-called distressed sales — after a foreclosure or through a short sale — decreased overall.