PROVIDENCE, R.I. — A report says housing prices are up in Rhode Island while the state also experienced a 4 percent dip in sales for the month of July.

The report was released Wednesday by the Rhode Island Association of Realtors, noting that the inventory of homes for sale in July 2017 was about 700 fewer homes than last year. The Providence Journal reports ( ) strong demand for housing pushed the median house price up to $270,000.

The association says the median price is the second highest median price for single-family homes since 2007, though it was below June’s median price.

There were 547 multifamily homes listed for sale in July, a decline of 21 percent from July 2016.