News

WARWICK, R.I. – February 21, 2025 – The number of single-family homes for sale increased 4.8% year over year, though the increase is not keeping pace with pent-up demand. Given the number of homes on the market in January, at the current pace of sales all homes currently for sale would be sold within 1.5 months. The data, released by the Rhode Island Association of Realtors today, represents all Realtor-assisted sales transacted last month through its subsidiary, State-Wide Multiple Listing Service.

Sales activity in Rhode Island’s housing market rose last year for the first time since 2020. According to data released today by the Rhode Island Association of Realtors, 7681 single-family homes sold in the Ocean State in 2024, a 3.3% increase from 2023. Stunted by rising prices however, sales continue to fall far behind 2019 when 11,013 homes sold. In the five years since then, the median price climbed 66.7%. Last year alone, the 2024 median price of $475,000 represented an 11.8% increase from 2023.

Warwick, R.I. –January 16, 2025 – End-of-year sales of single-family homes soared according to December home sales data released by the Rhode Island of Realtors today. Rhode Island’s housing market saw a 30.3% rise in year-over-year home sales last month, the largest annual gain in sales since January 1999. Last month’s median price also increased, reaching $470,000, a 10.1% jump from December 2023.

Warwick, R.I. – January 7, 2025 – Jennifer Beylard of North Kingstown, R.I. has been named Director of Professional Development of the Rhode Island Association of Realtors. She will oversee the development and execution of all educational offerings for the 6000-member trade association.

Warwick, R.I. – December 18, 2024 – The Rhode Island Association of Realtors released November sales statistics today showing a 3.5% rise in year-over-year sales activity and a 17.6% increase in pending sales expected to close in the coming weeks. This year, monthly sales have risen year-over-year for six months, in contrast to falling every month from January 2022 to January of this year. Inventory has increased from the prior year each month since April, which has helped spark sales.

Warwick, R.I. – November 21, 2024 – The Rhode Island Association of Realtors recently released October sales statistics that show the median price of Rhode Island’s single-family home sales continued to climb year-over-year, rising 11.5% to $485,000. The number of closed transactions also saw an annual gain of 5.4%. Pending contracts rose seven percent, an indication that year-over-year sales activity will likely continue to grow through year-end.

Warwick, R.I. – November 4, 2024 – Sales data released by the Rhode Island Association of Realtors indicates a jump in year-over-year single-family home sales in the third-quarter, compared to falling sales in the first two quarters of the year.  The number of closed sales rose 8.5% compared to July through September of last year.

Warwick, R.I. – October 17, 2024 – The median price of single-family homes sold in September climbed 6.6% year-over-year, continuing a trend in Rhode Island that began in February 2017. The Rhode Island Association of Realtors reported sales statistics today showing that last month’s median sale price of $485,000 was $30,000 higher than September 2023.

Warwick, R.I. – September 20, 2024 – The median price of single-family homes sold last month in Rhode Island rose 9% year-over-year to $490,563 according to a report released today by the Rhode Island Association of Realtors. Sales activity also increased from August 2023, rising 10.7%.

Warwick, R.I. – August 19, 2024 – The Rhode Island Association of Realtors recently released home sales data that showed the median price of single-family homes once again broke records in July, topping out at $495,000, a 12.5% gain from 12 months earlier. The number of listings on the market also rose from last year, rising 16.2%, helping to spark a 21.2% increase in sales activity. Pending sales, a leading indicator of future sales activity, stabilized after 30 consecutive months of decline.