Warwick, R.I. – July 21, 2026 -- Rhode Island's housing market posted year-over-year gains in closed sales across all residential property types despite ongoing economic uncertainty. Single-family home sales led the way with a 14% increase - the first annual gain in closed transactions this year - while the median sales price climbed to a record monthly high of $550,000, up 5.8% from June 2025.

The Rhode Island Association of Realtors reported that although the number of single-family homes on the market increased 4% from a year ago, stronger buyer demand kept inventory tight.

The condominium market also posted gains, with sales and inventory each rising 5.4%, while the median sales price remained essentially unchanged at $417,450.

"Amidst increased inflation and mortgage rates, Rhode Island home sales held their own in June. The allure of the Ocean State in the summer months increased pent up demand and sales activity climbed across the board. As with past months, it’s hard to know what is coming next, but we’re seeing signs of improvement in the local economy and some movement with new builds on the development front,” said Michael Pereira, President of the Rhode Island Association of REALTORS®.

The multifamily home market showed signs of cooling compared to other housing sectors. Closed sales increased just 1.3% and listings rose 10.7%, giving buyers more choices than they had a year ago.  June’s median price of $590,000 marked only the second month since 2014 that the monthly median price of multifamily homes declined year-over-year.

In the second quarter overall, sales were down for single-family and multifamily homes, while the median price continued to climb.

Housing statistics released by the Rhode Island Association of Realtors is sourced from its subsidiary, State-Wide Multiple Listing Service which reports Realtor-assisted transactions.