Are high mortgage rates making you wonder if now is the right time to sell your home in Rhode Island?

This is one of the most common questions we hear from homeowners across Warwick, East Greenwich, Cranston, Coventry, North Kingstown, Providence, and throughout central Rhode Island. With mortgage interest rates fluctuating in recent years, many sellers are left wondering if they should wait for rates to drop before listing their home. Let’s break it down and help you make an informed decision.

Understanding the Current Rhode Island Real Estate Market

The Rhode Island housing market remains active despite rate changes. According to the RI Statewide MLS, the average sales price in Warwick reached $460,986 in 2025, up 8.5% from the previous year, and homes are selling in just 30 days on average.

Statewide, median prices have climbed to $475,000, reflecting steady demand across central Rhode Island. Even with higher interest rates, buyer activity has not completely slowed down. Why? Many buyers understand that rates can be refinanced later, but home prices tend to keep rising.

Should You Wait Until Rates Drop?

Here are a few critical considerations:

1. Rates Might Not Drop Significantly Anytime Soon

While rates have edged down from their 2024 peaks, many experts predict that we won't see ultra-low pandemic-era rates again. Waiting for rates to "crash" could mean waiting years – all while your home's value may fluctuate and competition increases.

2. Inventory Is Still Tight

Rhode Island inventory levels remain low. Fewer homes on the market mean less competition for your listing. If rates drop, more sellers could flood the market, giving buyers more options and potentially driving down your negotiating power.

3. Buyer Demand Is Steady

Even with higher rates, buyers in Warwick and surrounding towns are still making moves due to job changes, growing families, and downsizing needs. Many are looking now because they fear prices will continue rising.

4. Your Personal Timeline Matters

Are you relocating for work? Downsizing? Moving closer to family? Your life plans should be a bigger factor than trying to time the market perfectly. Waiting for rates to drop may not align with your personal goals.

Why Sellers Are Listing Now in Central Rhode Island

• Strong Prices: Home values are still high across Warwick, East Greenwich, Cranston, and beyond.

• Quick Sales: Average days on market remain low, giving sellers confidence in a timely sale.

• Motivated Buyers: Many buyers want to lock in a purchase now and refinance later.

At the Slocum Home Team, we’ve helped countless Rhode Island sellers navigate this market. In fact, we’ve seen sellers in Warwick receive multiple offers in less than a week, even with rates hovering around 7%.

What Happens If Rates Drop After You Sell?

If rates fall after you’ve sold and bought your next home, you could potentially refinance to lower your payment. Plus, selling now allows you to cash in on today’s high home values.

Tips for Selling in Today’s Market

• Price Strategically: Homes priced right are still moving quickly.

• Prepare Your Home: Staging and small repairs can maximize your ROI.

• Work With a Local Expert: Partner with a trusted Warwick REALTOR® like Nick Slocum or one of the Slocum Home Team’s top agents to market your home effectively.

So, Should You Wait?

For most Rhode Island homeowners, the answer is probably not. If selling aligns with your goals, today’s market conditions could still work in your favor. Waiting for rates to drop may sound tempting, but it comes with its own risks – like increased competition and potential price corrections.

Ready to Make Your Move?

If you’re thinking about selling your home in Warwick, East Greenwich, Cranston, Coventry, North Kingstown, Providence, or anywhere in Rhode Island, let the Slocum Home Team guide you. We’ll help you create a strategy that works for today’s market and your unique situation.

Contact us today to schedule a free home evaluation and learn what your home could sell for in this market.