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september 2025
Rhode Island Housing Report

RHODE ISLAND

Home Sales Up, Average Price Up

September 2025 Housing Snapshot RI

For all categories combined, home sales are up 19% year over year, with September 2025 at 1,204 compared to 1,012 last September. Sales are up across all categories.

  • Single families: 703 (2024) | 830 (2025) 
  • Condominiums: 180 (2024) | 220 (2025) 
  • Multi-families: 129 (2024) | 154 (2025)

Average sale price increased by 15.8% overall year-over-year, now at $737,650 compared to $636,978 in September 2024. Prices are up across all categories.

  • Single families: $675,170 (2024) | $806,732 (2025) 
  • Condominiums: $508,017 (2024) | $540,765 (2025) 
  • Multi-families: $608,790 (2024) | $646,584 (2025)

Homes Listed For Sale:

The number of homes listed is up by 8.1% when compared to September 2024.

  • 2025: 1,674
  • 2024: 1,549
  • 2023: 1,283

Pending Home Sales:

The number of homes placed under contract is up by 12.8% when compared to September 2024.

  • 2025: 1,130
  • 2024: 1,002
  • 2023: 922

Data provided by RI Statewide MLS then compared to the prior year. 

What’s Happening in the Market?
  • In September 2025, national home sales increased 1.5% year over year September 2024 compared to September 2025. According to NAR Chief Economist Lawrence Yun, “As anticipated, falling mortgage rates are lifting home sales. Improving housing affordability is also contributing to the increase in sales.”   
  • According to Mortgage News Daily, August mortgage rates ended around 6.4%. They’re currently at 6.17% as of October 21st. Buyers are well advised to keep their pre-approvals up to date as mortgage rates adjust over time.
  • Sellers, there is a lot involved in the home sale process! Being prepared and hiring the RIGHT REALTOR are one of the most important steps to take to avoid making these 6 common seller mistakes! Savvy sellers who sell fast sell for more money. 
  • Some buyers wonder if skipping the buyer’s agent altogether and working directly with the seller’s agent is a less costly way to get the house they want. Seller’s agents have a duty to work on behalf of the seller, not the buyer. Learn more about why selling without a buyer’s agent will cost you money, and potentially, the home you want!
  • Massachusetts has implemented a new law that significantly changes how home inspections are handled in real estate transactions, which took effect on October 15, 2025. This impacts both buyers and sellers.  Watch Anthony discuss on NBC Boston News.

As we navigate the adjusting market and the impact it’s having on buying, selling, renting, and homeownership, being informed is one of the first steps in knowing what to do next. Click on the button to visit the RI Real Estate Updates page and never hesitate to contact us with questions.

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