How does the Providence-Warwick housing market compare to other major metro areas in 2025? Are we outperforming the national average—or bracing for correction?

It’s a question we’re hearing often from homeowners, investors, and first-time buyers alike. With the national housing landscape shifting, many are wondering how local conditions in Warwick, East Greenwich, Cranston, and the greater Providence area measure up.

We reviewed the latest insights from ResiClub's national housing reports and matched them with Rhode Island MLS data to bring you a clear, localized answer.

National Housing Market in 2025: Cooling Momentum

According to ResiClub’s May 2025 analysis of America’s 50 largest metro housing markets:

• Home prices are rising year-over-year in just 60% of major metros, and falling in the remaining 40%.

• This marks a notable decline from late 2024, when only 14% of large U.S. housing markets were experiencing annual price drops.

• Some of the worst-performing metros over the past 6–12 months include Austin, San Antonio, New Orleans, and Phoenix, where prices have dropped anywhere from 3% to over 6%.

• In contrast, only 5 out of the top 50 metros are showing 6-month price appreciation above 3%—and Providence is one of them.

That last point is crucial.

Providence-Warwick: A Top Performer in 2025

Despite the national slowdown, Providence-Warwick is outperforming.

Per the same ResiClub data:

• 6-month price growth in the Providence metro was +3.3% as of April 2025

• 12-month price appreciation was +7.7%, ranking among the top five performers nationally

This puts Providence-Warwick in elite company, with stronger annual appreciation than high-demand markets like Miami (+5.5%) or Boston (+4.2%).

Meanwhile, Rhode Island MLS stats support these trends. From Q1 2024 to Q1 2025:

• The median single-family sales price in Warwick rose from $400,000 to $419,000 (+4.75%)

• The average sales price increased by over 8.5%

• Homes sold 8 days faster on average compared to last year, with DOM dropping to 30 days

• The average price per square foot rose from $316 to $341 (+7.9%)

These figures confirm that while much of the country is experiencing cooling or even declining home prices, the Providence-Warwick metro continues to heat up.

Why Providence-Warwick is Bucking the National Trend

Several factors are helping the Providence area outperform:

1. Inventory Remains Low

Many major markets—especially in the South and Southwest—are seeing inventory levels exceed pre-pandemic norms. In contrast, Rhode Island’s available housing stock remains limited, keeping competition strong and prices supported.

2. Relative Affordability

With a metro-wide median home value still well below Boston’s or coastal Connecticut’s, Providence-Warwick is drawing both local buyers and regional transplants looking for value. This spillover demand is keeping pressure on prices.

3. Stable, Needs-Based Demand

Unlike boom markets driven by speculation, Rhode Island’s buyer pool is deeply rooted—consisting of long-time residents, upsizing families, and retirees staying close to home. This results in more consistent, less volatile demand.

What This Means for Buyers and Sellers in RI

For Sellers:

• Now is a strong window to list. While national headlines may suggest hesitation, the local market remains active, with well-priced homes moving quickly.

• Accurate pricing is still key. Overpricing in a transitioning national market can backfire, even locally. Strategic pricing paired with strong marketing is what gets results today.

For Buyers:

• Expect competition in desirable areas. Inventory remains tight in hotspots like East Greenwich, Cowesett, and Elmhurst.

• Use local data—not national noise—to guide your decisions. Partnering with a Warwick real estate agent who knows the street-level trends is more important than ever.

Looking Ahead: A Market with Momentum

While the broader U.S. housing market is showing signs of softening, the Providence-Warwick area is a clear outlier—and in a good way.

We’re seeing sustained price growth, fast sales, and resilient demand at a time when many markets are backpedaling. If you’re planning to buy or sell in Warwick, Cranston, Coventry, East Greenwich, North Kingstown, or Providence this year, you’re in one of the few metros where timing is still on your side.

Want personalized guidance on how to take advantage of this window? Reach out to Nick Slocum or one of The Slocum Home Team’s top agents. Our team is here to help you make your move with clarity and confidence.