The Riverfront Lofts in Pawtucket was a former mill building that was renovated into condominiums and artists’ studios.

The Providence Journal / Bob Breidenbach

Rhode Island’s condominium market weakened last year, but prices overall remained slightly higher than in 2005.

The statewide median condo price during October, November and December fell 7.4 percent, but the median for the year was $225,000, up 2.8 percent from 2005, according to a report released this week by the Rhode Island Association of Realtors.

Prices of condos in the state held up better, overall, than those of single-family houses, which last year saw a $7,500 decline in the statewide median price, to $282,500, the association’s data show.

Rhode Island’s condo sales last year declined 16.3 percent, with 1,883 units sold, compared with 2,251 units sold in 2005. Last year marked the first decline in condo sales since 1993, when the median price of a condo in the state was $83,000, according to the association’s data.

Condo prices rose last year in 17 of the 35 communities reporting condo sales, and fell in 14 communities, the data show. The association reported no condo sales data for 5 communities: West Greenwich, Little Compton, Glocester, Foster and Scituate.

(The association only reports sales made through real-estate agents to the state Multiple Listing Service, so sales by owners do not show up.)

Price changes in the condo market last year varied widely from one community to the next, due partly to a big influx of luxury condos around the state. Double-digit price increases for condos were reported in Warren, North Providence, Woonsocket, Pawtucket, Westerly, North Kingston, New Shoreham, East Greenwich and Coventry.

In New Shoreham, for example, the median price of the 50 condos sold last year rose 73 percent, to $460,000, the association’s data show. By contrast, in North Providence, the median price of the 185 condos sold last year rose nearly 25 percent, to $206,000.

The market’s cooling is being felt in Providence, where hundreds of new luxury condos are coming on line during the next few years. Generally, if the supply runs ahead of demand, prices tend to fall. Last year, the median price of the 142 condos sold in Providence fell 5.6 percent or $12,000, to $201,000, the association’s data show.