Market Report First Quarter - 2014 Executive Summary Spring is in the air here in Rhode Island and the housing market is coming into full bloom. Across the state, and in most counties, the average sale price of a single-family home in Rhode Island has increased by 25%, while the days on market (DOM) has decreased, as much as 23% in some towns. This increased demand for housing is reflected in the number of homes sold in Rhode Island. Newport County has seen a 26% increase in the number of sales, while Washington County has experienced a 9% increase when compared to Q1 2013. Most notably, Jamestown has sold 75% more homes in Q1 2014 vs. Q1 2013! In the luxury market, properties priced at $750,000 or higher, the number of homes being sold has increased by 77%. The average sale price and median sale price have both increased, 23% and 21% respectively.
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