More Rhode Island Homes Sell—but Prices Reach a Record High

Rhode Island’s housing market picked up in June, but buyers continued to face record prices and limited inventory.

The median price of a single-family home climbed to a monthly record of $550,000—up 5.8% from June 2025—according to the Rhode Island Association of Realtors.

Single-family sales increased 14% year over year, marking the first annual increase in closed sales recorded this year. Although the number of homes listed for sale rose 4%, stronger buyer demand kept available inventory tight.

“Amidst increased inflation and mortgage rates, Rhode Island home sales held their own in June,” said Michael Pereira, president of the Rhode Island Association of Realtors.

Pereira attributed some of the increased activity to summer demand and said the state is seeing signs of improvement in the economy and movement in new-home construction.

Condominium sales and inventory each increased 5.4% from a year earlier. The median condominium price remained relatively unchanged at $417,450.

The multifamily market was less active. Sales increased only 1.3%, while listings rose 10.7%, providing buyers with more choices. The median multifamily price fell to $590,000—only the second month since 2014 in which that market’s median price declined from the previous year.

Despite June’s stronger single-family sales, second-quarter sales remained below last year’s levels in both the single-family and multifamily markets. Median prices continued to rise.

The figures are based on Realtor-assisted transactions reported through the association’s State-Wide Multiple Listing Service.