The Rhode Island real estate market continues to evolve, and as we step into spring, many buyers and sellers are wondering what the latest data tells us.

Using MLS research, we’ve analyzed key market trends across Rhode Island, Kent County, Warwick, multi-family homes, and condos. Below, we break down the year-over-year changes in home prices, inventory, and sales activity to help you navigate today’s market.

⚠️ This analysis is based on our research of MLS data and is deemed reliable but not guaranteed.

Rhode Island Statewide Single-Family Market Trends

The statewide single-family market saw notable changes year over year:

  • New Listings: Slight increase of 0.76% (656 in 2024 → 661 in 2025)

  • Total Sales: Down 8.35% (443 in 2024 → 406 in 2025)

  • Average Sale Price: Up 5.60% ($554,866 in 2024 → $585,936 in 2025)

  • Median Sale Price: Up 4.09% ($440,000 in 2024 → $458,000 in 2025)

  • Average Price Per Sq Ft: Up 6.05% ($347 in 2024 → $368 in 2025)

  • Average Days on Market (DOM): Up 7.89% (38 days in 2024 → 41 days in 2025)

⏩ Takeaway: While new listings have slightly increased, total sales have declined. However, home prices continue to rise, showing resilience in the market despite affordability concerns.

Kent County Single-Family Market Trends

Kent County saw some of the most significant changes this year:

  • New Listings: Up 1.95% (154 in 2024 → 157 in 2025)

  • Total Sales: Down 13.89% (108 in 2024 → 93 in 2025)

  • Average Sale Price: Up 10.46% ($437,178 in 2024 → $482,898 in 2025)

  • Median Sale Price: Up 10.10% ($386,000 in 2024 → $425,000 in 2025)

  • Average Price Per Sq Ft: Up 9.18% ($316 in 2024 → $345 in 2025)

  • Average Days on Market: Down 7.50% (40 days in 2024 → 37 days in 2025)

⏩ Takeaway: Prices in Kent County have surged, with both average and median prices increasing over 10%. However, fewer sales indicate that buyers may be cautious in this higher-priced market.

Warwick Single-Family Market Trends

Warwick followed a similar trend to Kent County, with price increases but stable sales:

  • New Listings: Up 12.99% (77 in 2024 → 87 in 2025)

  • Total Sales: No change (54 in 2024 → 54 in 2025)

  • Average Sale Price: Up 15.12% ($415,820 in 2024 → $478,701 in 2025)

  • Median Sale Price: Up 6.12% ($400,500 in 2024 → $425,000 in 2025)

  • Average Price Per Sq Ft: Up 15.09% ($318 in 2024 → $366 in 2025)

  • Average Days on Market: Down 26.67% (45 days in 2024 → 33 days in 2025)

⏩ Takeaway: Warwick home prices have increased at one of the fastest rates in the state, while total sales remained stable. The significant drop in days on market suggests high demand and strong buyer competition.

Rhode Island Multi-Family Market Trends

The multi-family market saw a strong increase in prices, despite fewer new listings:

  • New Listings: Down 8.00% (150 in 2024 → 138 in 2025)

  • Total Sales: Up 7.89% (76 in 2024 → 82 in 2025)

  • Average Sale Price: Up 19.02% ($539,987 in 2024 → $642,694 in 2025)

  • Median Sale Price: Up 10.58% ($520,000 in 2024 → $575,000 in 2025)

  • Average Price Per Sq Ft: Up 13.98% ($186 in 2024 → $212 in 2025)

  • Average Days on Market: Down 13.95% (43 days in 2024 → 37 days in 2025)

⏩ Takeaway: Multi-family homes continue to be in demand, with sales increasing and prices rising sharply. Investors and buyers looking for rental income are still actively competing for these properties.

Rhode Island Condo Market Trends

Condos saw the most dramatic year-over-year price increases:

  • New Listings: Down 9.73% (185 in 2024 → 167 in 2025)

  • Total Sales: Up 3.48% (115 in 2024 → 119 in 2025)

  • Average Sale Price: Up 22.46% ($380,510 in 2024 → $465,956 in 2025)

  • Median Sale Price: Up 21.95% ($328,000 in 2024 → $400,000 in 2025)

  • Average Price Per Sq Ft: Down 8.60% ($465 in 2024 → $425 in 2025)

  • Average Days on Market: Up 10.26% (39 days in 2024 → 43 days in 2025)

⏩ Takeaway: Condo prices skyrocketed, with median prices up nearly 22%. However, longer days on market and a drop in price per square foot suggest some resistance at these higher prices.

What This Means for Buyers and Sellers

  • For Sellers: If you’re considering selling, rising home prices and strong demand—especially in Warwick and Kent County—make this a great time to list.

  • For Buyers: With inventory still tight, be prepared for competition. However, higher prices mean affordability is becoming a bigger concern, especially in the condo and multi-family market.

  • For Investors: Multi-family homes remain a strong investment, with rising rents and solid price appreciation.

If you’re thinking about buying or selling in 2025, let’s connect to discuss the best strategy for your needs.