According to the Rhode Island Association of Realtors, the median price of a single family home dropped two percent in the second quarter of 2011, when compared to the same period last year. Sales were down more than 20 percent year-over-year.
In East Providence, the news was mixed.
Sales of single-family homes were down nearly 41 percent, more than twice the state average, while prices dropped 7 percent from $188,500 to $175,000. Days on the market held steady at 81 days.
The condominium market, which had just 5 sales, fared better. Despite a 37 percent drop in sales, the median price rose more than 4 percent from $137,000 to $143,000. The number of days on the market rose slightly from 112 to 115.
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