Market Report Second Quarter - 2014 Executive Summary Across the state there has been a decline in the number of properties sold for both year-to-date and quarter to quarter. This has been offset by increases in both the average and median sales price over the same time periods. The increase was highlighted by a double digit gain in year-to-date for average sales price. Additionally, we are very encouraged by double digit decline in days on market (DOM) for both the Q2 2014 vs. Q2 1013 and year-to-date. The declining DOM is across all counties with Providence and Washington counties leading the way with 21% and 16% quarter to quarter declines. Although unit sales are down statewide, both Newport and Washington counties reported both quarter to quarter and year-to-date gains. These same counties also reported gains in average sales price, with 17% and 14% increases quarter to quarter. Inventory to demand ratios have remained fairly consistent for all counties.
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