Projo Biz Blog

By Paul Edward Parker
Journal Staff Writer

Two surveys of the Rhode Island housing show a dismal performance in the first three months of 2009.

According to the Rhode Island Association of Realtors, the median sales price of single-family houses in Rhode Island fell 26.5 percent in January, February and March this year compared to the same three months last year. The median price fell from $245,000 last year to $180,000 this year, the Realtors said.

The Realtors track sales made through its State Wide Multiple Listing Service, which generally does not include sales by owners or sale brokered by agents who are not Realtors.

The Warren Group, a Boston-based consulting firm, found the median sales price of single-family houses fell 25.9 percent during the same period. The median price fell from $243,000 last year to $180,000 this year, according to the Warren Group.

The Warren Group compiles its data from deeds recorded at city and town halls, a method that should catch sales not included on the Realtors' service.

The two organizations disagreed on the number of single-family houses sold during the three-month period.

The Realtors counted 1,247 sales this year, up a fraction of a percent from 1,242 sales last year.

The Warren Group saw the number of sales dive 12.3 percent, from 1,369 last year to 1,200 this year.

 Tags  housing prices The Warren Group

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