Rhode Island Market Data

The first month of 2020 saw significant growth in Rhode Island’s housing market. The Rhode Island Association of Realtors reported a double-digit increase in the median price of single-family homes sold last month. January’s median sales price of $296,750 represented a 17 percent hike year-over-year.

“Inventory continues to be a problem. We saw a huge jump in sales in December and January. Now that those properties are off the market, our supply of homes is near an all-time low. With less than three months of inventory, our supply is half of what it should be,” said Shannon Buss, president of the Rhode Island Association of Realtors.
“Typically, the spring selling season brings a surge in inventory. Hopefully this year, it will be significant. The irony is, it really is a great time to sell and with interest rates remaining low, when you find the right property, it’s also a good time to buy,” Buss added.

Read more: “2020 starts off with significant increases in Rhode Island’s housing market,” from the Rhode Island Association of REALTORS®.


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