How Do You Sell a Home and Buy Another in a Competitive Market Like RI?
Ever wondered, “How do I sell my home and buy another at the same time in Rhode Island’s competitive housing market?”
It’s one of the most common questions we hear at the Slocum Home Team. Whether you’re upsizing in Warwick, downsizing in East Greenwich, or relocating to Providence, coordinating a sale and purchase in today’s market can feel like walking a tightrope. With limited inventory across Central Rhode Island and rising prices in places like Cranston and North Kingstown, timing and strategy are everything.
In this blog, we’ll break down the process step by step, share local market data, and show you how working with an experienced REALTOR® like Nick Slocum — or one of the Slocum Home Team’s top agents — can help you pull off the move smoothly and confidently.
Why Timing Is Tricky in Rhode Island Right Now
The Rhode Island housing market remains competitive. According to the RI Statewide MLS, the median single-family home price reached $475,000 in 2024, up 11.7% year-over-year. In Warwick specifically, the median price hit $410,000, an 8.7% increase. At the same time, inventory remains tight — just a few months’ supply in many Central Rhode Island communities.
This means sellers are in a strong position, but buyers must act fast. If you’re both selling and buying, you’re playing on both sides of this equation — and the right game plan is essential.
Step 1: Understand Your Financial Position
Before listing your current home or shopping for a new one, get clarity on:
Equity: How much equity do you have in your current home? With values rising in Warwick, Cranston, and Coventry, many homeowners are surprised at how much equity they’ve built.
Mortgage payoff: Know your balance and how much of your sale proceeds will be available for your next down payment.
Loan options: Talk to a lender early. Bridge loans, HELOCs, or extended rate locks may help you buy before you sell — but these tools vary, so consult with a qualified lender.
Step 2: Decide Whether to Buy or Sell First
This is the biggest decision homeowners face. Each option comes with pros and cons:
Selling First
✅ Eliminates the risk of carrying two mortgages.
✅ You know exactly how much you can afford on your next purchase.
❌ You may need temporary housing in Warwick, East Greenwich, or elsewhere.
Buying First
✅ You avoid moving twice.
✅ You can shop with confidence knowing you won’t be rushed.
❌ You may need a bridge loan, HELOC, or significant savings to cover overlapping costs.
Your REALTOR® will help weigh which path makes sense based on your risk tolerance, finances, and local inventory.
Step 3: Use Contingencies Strategically
In Rhode Island, purchase and sales agreements allow for contingencies that can protect both buyers and sellers. Common ones include:
Home sale contingency: Your purchase is dependent on selling your current home.
Use & occupancy agreement: Lets you stay in your sold home temporarily while you close on your new one.
Rent-back agreement: The buyer rents the home back to you for a set period after closing.
These tools give you flexibility — but in a competitive market, they must be used carefully. Buyers in East Greenwich or North Kingstown, for example, may hesitate to accept a home sale contingency. That’s why having an experienced agent negotiate on your behalf is critical.
Step 4: Lean on Local Market Expertise
Every Rhode Island town is unique. A move from Cranston to North Kingstown may involve different timelines, price points, and buyer pools. That’s where the Slocum Home Team comes in.
Our team monitors real-time MLS data, negotiates daily in multiple markets, and understands how to position both your listing and your offers for maximum success.
For example:
Homes in Warwick averaged just 30 days on market in 2025, one of the fastest in the state.
In Kent County overall, prices rose over 10% in the past year, showing the strength of demand.
When selling and buying simultaneously, local data gives you the edge you need.
Step 5: Partner With the Right REALTOR®
The process is complex, but you don’t have to go it alone. Ninety percent of sellers nationwide used a real estate agent in 2024, and homes sold through agents typically closed faster and at higher prices.
Nick Slocum — or one of the Slocum Home Team’s trusted agents — will:
Help you price your Warwick or Providence home competitively.
Market your property aggressively across Central Rhode Island.
Negotiate contingencies to protect your move.
Coordinate timelines so your sale and purchase align.
Final Thoughts: Moving With Confidence
Selling one home while buying another in Rhode Island’s competitive market takes planning, patience, and the right professional support. By knowing your finances, weighing whether to sell or buy first, and using contingencies strategically, you can make the transition smoothly.
At the Slocum Home Team, we’ve helped Rhode Island homeowners successfully navigate this exact situation for decades. If you’re considering a move in Warwick, East Greenwich, Cranston, or anywhere in Central Rhode Island, reach out today. We’ll help you map the path forward with confidence.
