Fewer home sales, but an ever-growing median price — that is how real estate officials are describing the current housing market in Rhode Island.

According to information provided by the Rhode Island Association of Realtors, home sales for June show prices which continue to climb while the number of sales continues to drop.

Statewide, the median price of single family homes increased 11.7 percent to $430,000 in June 2022, compared to June 2021. That figure marked an all-time high, according to the RI Association of Realtors.

In Barrington, the median price of single family homes sold in June 2022 was $775,000, which was an 8.4 percent increase over June 2021’s figure of $715,000. 

Meanwhile, the number of homes sold dipped from 41 in June 2021 to 35 last month, a 14.6 percent drop. 

“Last month, we experienced the lowest number of sales in June since 2014. We’ve turned a corner, but we still have quite some time to go before we reach a balanced market. We’ve gained a little bit on the supply side but there’s still a significant shortfall,” said Agueda Del Borgo, president of the Rhode Island Association of Realtors.

Barrington had one of the highest median prices for homes sold throughout the state for June. Only a handful of towns — Little Compton, Jamestown and Block Island — had higher prices, and Block Island and Little Compton only had single sales to drive that figure.