New Alerts:
1. Scammers have been sending fake emails pretending to be from staff and/or members of RI REALTORS®. Just a couple of the most recent scams include an offer of a free piano and a "secure" message including an RI REALTORS® Annual Report from our President. Both are fake emails.
2. The Norwich, CT Police Dept. warns REALTORS® of a buyer with suspicious behavior and criminal background.
Warwick, R.I. – August 21, 2025 -- Rhode Island’s single-family home market showed some stabilization in July as the supply of homes for sale continued to grow. Data released by the Rhode Island Association of Realtors highlighted a slight .3% drop in sales activity of single-family homes and a two percent gain in the median price year-over-year. The July numbers also indicated a slow but steady gain in the supply of homes for sale.
Are you booking short-term rentals for 2026 now? Keep in mind that a new tax on short-term rentals of entire homes, cottages and condominium units will take effect, and the local hotel tax will increase.
Just days before the legislative session ended in June, 2025, the House approved tax increases and new taxes on real estate. As a result, the state budget passed with increases to the conveyance tax on sales of real estate or the interest in an acquired real estate company that close on or after October 1, 2025. Even if a purchase and sales agreement is signed before October 1st, the closing date is what triggers the tax.
WARWICK, R.I. – July 22, 2025 – Today, the Rhode Island Association of Realtors reported a year-over-year increase in June’s median home sales price. At $520,000, the median price of single-family homes represented a 5.3% gain from 12 months earlier and a 73.6% gain since 2019, the last year unaffected by pandemic migration.
Moving forward, property owners should take note of new taxes introduced in the recently passed RI FY 2026 budget that impact residential real estate. Whether homeowners are offering short-term vacation rentals, selling their home, or own a non-owner-occupied second property valued over $1 million, new or increased taxes will become a part of their ongoing expenses.
The Rhode Island Association of REALTORS helped to defeat “just cause” legislation that would have abolished a landlord’s existing right to terminate any of the following for any reason: a month-to-month tenancy; a tenancy after a lease expires; or an unwritten rental agreement.
If this legislation had passed, it would have prevented landlords from evicting tenants unless the landlord could document that the eviction was for an acceptable purpose as defined in the legislation...
The Rhode Island Association of REALTORS® helped to defeat several bills that would have imposed rent control on residential rental properties. Rent control has been a failure in Massachusetts and other parts of the country because it discourages production of new rental housing and makes it difficult for landlords to afford repairs and improvements. Since rent control is not needs tested, it benefits high income earners as well as low income earners.
As of June 27, 2025, a new law, Chapters 257 and 265, affects towns, cities, private organizations, and private property owners who wish to reduce or eliminate parking near a Coastal Resources Management Council (CRMC) designated public right of water to the shoreline. These entities must file a plan that will be reviewed by CRMC and the Rhode Island Department of Environment Management (DEM).
