🏡 Understanding the Real Estate Market: Trends & Insights in Rhode Island

Are you curious about what’s happening in the Rhode Island housing market? Whether you’re buying, selling, or investing, staying informed is key to making smart decisions. Here’s a breakdown of the latest trends and insights shaping the Ocean State’s real estate landscape in 2025.

📊 Market Snapshot: Rhode Island Real Estate in 2025

• Median Home Price: 📈 $521,300 — up 4.0% year-over-year 
• Sales Volume: 📉 Down 7.0%, with 1,096 homes sold in July 
• Inventory: 🏘️ Up 9.7%, totaling 3,451 active listings 

👉 Explore full market data on Redfin

🌟 Hot Markets & Price Growth

Some cities are seeing remarkable growth:

• Newport: 🚀 +55.2% in median sale price
• Lincoln: 📈 +15.2%
• Portsmouth: 🌊 +14.8%
• Bristol: 🏖️ +14.7% 

These areas are attracting both local and out-of-state buyers looking for lifestyle and investment opportunities.

🌍 Out-of-State Buyers & Luxury Trends

Did you know that 25% of residential sales in Rhode Island involved out-of-state buyers in 2024? Even more striking:

• 42% of $1M+ homes were purchased by non-local buyers 
• Popular among these buyers: coastal towns and suburban communities

👉 Read the full report from RI Association of Realtors

🔥 Competitive Cities

Homes are selling fast and often above asking price:

• Barrington, Cumberland, and Cranston are among the most competitive
• 50.3% of homes sold above list price in July 

👉 Check competitiveness on Realtor.com

🧭 What’s Ahead: Forecast & Legislation

Experts predict moderate price growth through 2026. Key factors to watch:

• Mortgage Rates: Still high, impacting affordability
• Housing Reforms: Rhode Island is taking action:
  • 🏗️ ROAD to Housing Act: Boosting supply and affordability 
  • 🏡 Expansion of Accessory Dwelling Units (ADUs)
  • 🏚️ Creation of a Housing Land Bank to repurpose vacant properties

👉 Learn more about the ROAD to Housing Act

🏘️ Multifamily & County-Level Insights

• Multifamily Homes: Median price now $595,000, up 24.6% 
• County Trends:
  • Washington County: ⬆️ +19.66%
  • Providence County: ⬆️ +8.64%
  • Bristol County: ⬇️ -17.52% 

👉 Explore county-level data on Zillow

💬 Final Thoughts

The Rhode Island real estate market remains dynamic and full of opportunity. Whether you’re buying your first home, upgrading, or investing, understanding these trends helps you stay ahead.

📍 If you’re looking to buy, sell or invest in Rhode Island, I’d love to help you navigate the market with confidence.