While Warwick single-family house sales increased for the month of October in keeping with the statewide trend, the median price slipped by 6.28 percent to $168,363.

According to the report issued this week by the Rhode Island Association of Realtors, Warwick saw the most single-family sales in the state with 109 sales. This is up from 98 last October. Of all the state’s cities and towns, South Kingstown recorded the second highest number of home sales for the month at 41.

Statewide, the single-family home market increased five percent last month from 12 months earlier, and the median price rose to $232,000. October’s price represented a 14 percent increase from the prior year and the highest monthly median price since June 2013.

The Rhode Island Association of Realtors attributed the higher price to a 38 percent drop in the number of foreclosure and short sales, which are typically lower-priced.

The report found there were 15 distressed property sales in Warwick for this October as compared to 22 last October, a decline of nearly 32 percent.

Warwick Realtor Phil Slocum was careful not to read a trend into the declining median Warwick house price.

“Don’t think of it as long term,” he said. “It’s a snapshot and the numbers can be so easily skewed.”

Slocum hasn’t seen a decrease in sales or prices. He said the “hottest” Warwick properties are in the range of $200,000 to $225,000. He reported seeing “far less of the real low value things.”

“With inventory and interest rates what they are, opportunities are everywhere,” he said.

Slocum said he’s had homes sell within a couple of days of being listed, especially if properly priced. According to the report, Warwick homes were on the market an average of 69 days before selling, a drop from 71 days as of October 2013.

Slocum is bullish on Warwick. He said the city “enjoys a solid base,” pointing to its schools, police and fire departments and taxes.

“It’s just a solid community,” he said.

According to the association, changes in median price – the point at which half sell for more and half sell for less – are indicative of market conditions but not necessarily individual home values.

Sales in October rose over the prior year for the second consecutive month, and it appears that that trend may continue. Pending sales – properties under contract but not yet sold – have made small but positive gains each month since August, indicating that fourth quarter sales activity will surpass last year.

“It appears that the fourth quarter is starting out strong. We saw sales activity slow just a bit earlier this year, but it appears now that that was temporary. Thanks to a better job market and continued low interest rates, it seems that consumer confidence is growing. All the signs bode well for a strong, healthy housing market in 2015,” Bruce Lane, Association president, said in a statement.

Multi-family sales followed the path of single-family sales with sales activity also increasing five percent in October. The median price soared by 30 percent to $168,000, again likely caused by a 34 percent decline in the number of distressed sales.

Sales of condominiums rose seven percent, though the median price dropped four percent to $190,000. Distressed sales rose by nine percent last month in the condo market, which should pave the way for higher prices in the months ahead as lower priced foreclosure and short sales are pushed out of the market.