RI Housing Market Update: July 2025 vs July 2024
he Rhode Island housing market in July 2025 tells a story of resilience, subtle shifts, and a few surprises. While overall prices have continued to rise in most segments, the market’s pace and inventory mix have changed in ways that buyers and sellers alike should watch closely.
Rhode Island Single-Family Homes (Statewide)
The single-family home market stayed steady, with a slight bump in activity. New listings in July 2025 reached 1,127, just above the 1,108 from a year earlier — a 1.71% gain. Sales volume was almost unchanged, up only 0.37%, with 807 homes sold compared to 804 in 2024.
Prices, however, continued their upward march. The average sale price climbed to $671,431, up 0.91% year-over-year, while the median sale price rose 1.51% to $505,000. Buyers paid more per square foot as well — $399, a 4.72% increase from last year.
One small shift worth noting: the average sale-to-list price ratio dipped slightly from 102% to 101%, signaling that buyers may be negotiating a bit more successfully. Still, the average days on market held steady at 28, showing demand remains strong.
Rhode Island Multi-Family Homes (Statewide)
Multi-family properties saw a surge in inventory, with new listings up 24.30% to 266. Yet, sales dropped 11.43%, pointing to a shift in buyer appetite or affordability challenges.
On the pricing side, this segment saw some of the biggest gains: the average sale price rose 5.52% to $628,938, and the median price jumped 11.24% to $611,800. Despite this, the average price per square foot slipped slightly to $210.
One notable change — the average days on market leaped from 20 to 28 days, a 40% increase, suggesting properties are taking longer to move despite price growth.
Rhode Island Condominiums (Statewide)
The condo market told a different story. Inventory tightened, with new listings dropping 14.19% to 248 units. Sales followed suit, falling 12.56% year-over-year.
Prices, however, moved in opposite directions. The average sale price climbed 4.33% to $483,770, but the median price fell 4.75% to $376,250 — suggesting more high-end sales are skewing the average upward while mid-market prices softened. The average price per square foot also slipped 3.24% to $388.
Homes lingered a bit longer on the market, with the average days on market rising from 31 to 36 days.
Warwick Single-Family Homes
Warwick was a standout performer in 2025. New listings rose 13.33% to 136, and sales spiked 28% year-over-year — from 75 to 96 homes sold.
Prices followed suit: the average sale price climbed to $492,574 (+4.55%), and the median price hit $437,250 (+4.11%). Buyers paid $354 per square foot, slightly higher than last year, and the average days on market stayed low at 23 days.
Overall, Rhode Island’s market in July 2025 reflects steady price appreciation and stable buyer interest, but the dynamics differ by segment. Single-family homes remain competitive, condos are feeling some price pressure in the mid-range, and multi-family properties — despite higher prices — are taking longer to sell.
For sellers, pricing strategically is key, especially in segments where inventory is climbing. For buyers, the small shifts in negotiation leverage and days on market could create opportunities.
