R.I. home sales up 8 percent, price down 7 percent in September

WARWICK, R.I. -- The number of single-family houses sold in Rhode Island increased again in September, up 8 percent from a year ago, but the median price fell 7 percent, to $185,000, according to the Rhode Island Association of Realtors.

The number of homes under contract to be sold but not yet closed increased by 24 percent, the association said, and the supply of homes for sale fell by 18 percent.

Single-family house sales that were distressed, meaning they were foreclosures or short sales, fell from 29 percent of total sales in September 2011 to 24 percent in September 2012.