RHODE ISLAND
Home Sales Down, Average Price Up
Home sales are down 5.4% year over year, with July 2025 at 1,118 compared to 1,182 last July. Sales are down across all categories.
- Single families: 830 (2024) | 816 (2025)
- Condominiums: 205 (2024) | 175 (2025)
- Multi-families: 147 (2024) | 127 (2025)
Average sale price increased 3.1% year-over-year, now at $636,069 compared to $616,675 in July 2024. Prices are up across all categories.
- Single families: $659,634 (2024) | $668,925 (2025)
- Condominiums: $460,282 (2024) | $481,937 (2025)
- Multi-families: $592,216 (2024) | $637,349 (2025)
Homes Listed For Sale:
The number of homes listed is up by 2% when compared to July 2024.
- 2025: 1,643
- 2024: 1,610
- 2023: 1,270
Pending Home Sales:
The number of homes placed under contract is up by 0.7% when compared to July 2024.
- 2025: 1,114
- 2024: 1,106
- 2023: 925
Data provided by RI Statewide MLS then compared to the prior year.
What’s Happening in the Market?
- In July 2025, national home sales increased by 2%. Despite this trend, Rhode Island experienced a 5.4% decrease in home sales.
- Mortgage rates finished July around 6.75%, but by August 14th they had fallen to 6.53%, per Mortgage News Daily. This decline represents the lowest rate since October 2024, creating a timely affordability advantage for buyers.
- Thinking about selling soon? Get your home’s photos taken before the seasons shift. Capturing sunny exteriors and your yard at its best means you’ll be prepared to market your home attractively, even with a winter listing.
- Buyers, take note: Fall is often the most advantageous season to purchase a home. With inventory on the rise as summer ends, now is the time to explore your options. If you’re debating between renting and buying, let us help you make an informed decision.