Home Economy Economic Activity R.I. median home sale prices rose 5.3% to $499K in 2025

R.I. median home sale prices rose 5.3% to $499K in 2025

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PBN Staff

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01/22/2026

Existing Home Sales — THE MEDIAN single-family home sale price in Rhode Island in 2025 was $499,000, a 5.31% increase year over year, the Rhode Island Association of Realtors said on Thursday. / AP FILE PHOTO/ROGELIO V. SOLIS

WARWICK – The median single-family home sale price in Rhode Island in 2025 was $499,000, a 5.31% increase year over year, the Rhode Island Association of Realtors said on Thursday. The number of sales in the state also inched up during that time, totaling 7,881, an increase of 1.3% from 2024. The high-water mark for sales was in 2019 when

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WARWICK – The median single-family home sale price in Rhode Island in 2025 was $499,000, a 5.31% increase year over year, the Rhode Island Association of Realtors said on Thursday. The number of sales in the state also inched up during that time, totaling 7,881, an increase of 1.3% from 2024. The high-water mark for sales was in 2019 when 11,013 transactions were recorded. Condominium sales in the state totaled 1,914 in 2025, a 5.75% increase from 1,810 the year before. The median price of a condo sold went up 9.86% year over year, to $390,000. The median price of a multifamily home sold in Rhode Island in 2025 rose 8.23% year over year, to $585,000. Sales activity fell 0.52% from the year prior to 1,516. For the month, the median price of single-family homes sold in Rhode Island continued to climb in December, rising 5.7% from a year earlier to $496,950. Sales jumped 3.3% year over year, to 716, however pending sales dropped 3.1% to 589. Though the month closed out with a 13.7% increase in the number of single-family homes listed on the market since December of last year, the association said pent-up demand continued to deplete available inventory, causing the state’s housing supply to remain relatively flat from a year ago. “It’s hard for a first-time buyer to compete with wealthier out-of-staters or baby boomers looking to downsize,” said Mike Pereira, president of the Rhode Island Realtors Association. “Thankfully mortgage rates are coming down. That won’t be the magic bullet that changes the trajectory of our housing crisis, but every little bit helps.” Year over year, condominium sales rose 13.79% to 165 in December, while multifamily home sales increased by 7.3% to 147 during that time. The median condominium sales price increased 1.42% to $545,000, while the multifamily home sales price rose 9.17% to $595,000. “The condominium market offers less expensive options for first-time buyers,” Pereira said. “That’s what helped that sector of the market realizes the largest increase in sales activity of all housing types. Creating more of these types of developments can go a long way in eliminating our housing shortage.”