Rhode Island Single-Family Home Market Heats Up in May 2025: Prices and Sales Continue to Climb
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Cranston, RI – June 19, 2025 — Rhode Island’s single-family housing market showed renewed strength in May 2025 home sales, with key indicators pointing to rising demand and growing confidence among both buyers and sellers. According to the latest data, the median sale price for single-family homes surged to $512,750, marking an 11.5% increase over May 2024.
A total of 702 single-family homes sold in May, representing a 9% increase year-over-year, while 1,075 homes went under contract, up 3.7% from the same period last year. The number of pending sales, often viewed as a forward-looking indicator, suggests that buyer interest remains high heading into the summer market.
Inventory also saw a modest improvement, with 2.3 months of supply available in May, up from 2.1 months in April. While still well below the 5–6 months typically considered a balanced market, the slight increase offers some hope for buyers frustrated by years of tight supply.
"The Rhode Island housing market is showing signs of healthy momentum," said Robert Scaralia, Director of Education at Real Estate Institute of Rhode Island. "Prices continue to rise, but increased inventory and steady gains in sales and pending's reflect a competitive yet active environment."
The combination of strong price appreciation, faster sales activity, and slightly improved inventory paints a picture of a resilient ri real estate housing market, buoyed by life changes, sustained demand, and a gradual easing of supply constraints.
With summer approaching, industry professionals are keeping a close eye on whether inventory will continue to improve and help meet buyer demand. For now, Rhode Island real estate single-family market remains one of the most dynamic sectors in the region.
Media Contact:
Real Estate Institute of Rhode Island
401-943-8500
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