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As we move through 2025, Rhode Island’s housing market continues to make waves with persistent price gains, strong buyer demand, and slowly increasing—but still constrained—inventory. The latest report from the Rhode Island Association of Realtors places the median single-family home price at $520,000 in June, reflecting a 5.3% year‑over‑year increase, and a remarkable 73.6% increase since 2019 rirealtors.org+1rhodeislandliving.com+1. Meanwhile, total listings remain low: with only about 2–2.5 months of supply, it’s well below the 5–6‑month threshold considered balanced rirealtors.org+1Houzeo+1.
Comparatively, Redfin reports a median sale price of $533,800 in June, up 2.3% from the previous year, with home sales increasing nearly 13% YoY and inventory up roughly 7.8% Redfin. Zillow’s data shows average home values around $495,600, up 4.3%, with homes selling in approximately 10 days on average Houzeo+2Zillow+2Architectural Digest+2.
In the first quarter (Q1) of 2025, RI saw fewer single-family transactions (‑3.2% YoY), but prices climbed to $465,000, up from $440,000—a 5.7% increase. Condominiums rose 14% to a median of $390,000, and multifamily homes posted a 12% jump to $570,000 rirealtors.org+1rhodeislandliving.com+1.
On the national stage, Zillow has named Providence among the “Top 10 hottest housing markets for 2025”, driven by strong demand, limited supply, and its appeal as relatively affordable compared to larger metros like Boston or New YorkArchitectural Digest.
🏠 What This Means for Buyers, Sellers — and Where Prices May Be Headed
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Sellers remain in a strong position: low inventory and rising prices mean homes often sell quickly and sometimes above list price. Redfin data shows over 52% of Rhode Island homes sold above list price in June, and the average sale‑to‑list ratio hovered around 101.3% Zillow+2Redfin+2Houzeo+2.
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Buyers face competition—but there’s cautious optimism. While some sellers engage in bidding wars, areas with price drops and higher days on market may offer negotiation chances.
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Price Forecast: National forecasts suggest strong appreciation continues. A recent HireAHelper/Redfin analysis projects that by 2030, Rhode Island’s median home price could approach $855,000, potentially requiring average incomes near $190,000 just to remain affordable Houzeonypost.com.
Curious how these state‑level trends compare with what’s projected for the rest of 2025? Read on to dive into the forecast article below — plus what it all means for your next move in the Ocean State market.
