Median home prices are up, but momentum is shifting. Here’s what you need to know to stay ahead.
The Rhode Island housing market remains historically strong, but key data points reveal a noticeable pivot underway as we move through summer 2025. According to the Rhode Island Association of Realtors, the median price of a single-family home climbed to $520,000 in June, marking a 5.3% increase year-over-year—and a staggering 73.6% increase since 2019. Still, behind these numbers, a quieter but significant market shift is developing.
🏡Sellers: The Spring Surge Is Over—Now What?
While home values remain high, sellers who missed the spring market’s peak frenzy are now encountering longer days on market and increasing price sensitivity from buyers. Inventory is up 20.4% compared to last year, and closed sales have increased by 14.2%, signaling renewed activity—but also more competition.
More telling: 10–15% of Rhode Island listings have seen price reductions in the past 30 days alone.
“We’re seeing a shift,” says Steve Miller, Team Leader of the Steven Miller Group at Coldwell Banker Realty. “Sellers who didn’t get their home under contract or sold in the hotter 2025 spring market are now having to reduce their price or re-list at new more realistic pricing to attract buyers based on condition and location. And, if homeowners are unable to get under contract in the next two weeks by August 1 or thereabouts, they may need to reduce again. This is mainly because a portion of the buyer market here in Rhode Island and Massachusetts with school-age kids really need to be settled into their new home by end of August. After Labor Day weekend, buyers will have somewhat more negotiating power than we've seen in all of 2025 because many buyers with school-age kids will now opt-out until next spring of 2026.”
🔍Buyers: Conditions Are Tilting in Your Favor
While competition remains in such markets as East Greenwich, Barrington, and Narragansett, buyers across Rhode Island are starting to gain an edge. Average days on market for single-family homes have climbed to around 25 days, and many sellers are now open to contingent offers, closing flexibility, and inspection negotiations.
This presents a window of opportunity for well-prepared buyers to act before fall inventory floods the market.
Today’s transactions are no longer straightforward. Deals are often layered with seller “suitable housing” clauses, buyer home-sale contingencies, and tight relocation timelines. The June through August stretch is especially intense, with overlapping closings and limited vendor availability. Without expert guidance, the stakes can feel overwhelming.
That’s where the Steven Miller Group steps in.
“Our team is built for these high-stress and complicated real estate home selling and buying scenarios,” says Miller. “From pre-marketing to our network, staging prep, home cleaning/de-cluttering, and coordinating handymen/contractors/painters to managing all communications with agents, lenders, attorneys and most importantly - handling the high-stakes offer negotiations, we do it all—so our clients don’t have to.”
📊What Should You Do Now?
➤ Thinking of Selling?
Now is your moment to act before fall competition increases. We’ll provide a free market analysis, a tailored pricing strategy, and a targeted marketing plan to make sure your property gets the attention it deserves.
➤ Looking to Buy?
We’ll help you take advantage of rising inventory and negotiate favorable terms—even in competitive neighborhoods. Whether you’re moving up, downsizing, or buying for the first time, we’ll build a strategy around your goals.
✅Let’s Create Your Custom Buying or Selling Plan Today
Don’t wait for fall, get a head start now for what's to come. Contact the Steven Miller Group now to schedule your no-obligation, free consultation and position yourself for success in today’s evolving market. Happy to chat more about your journey and where you need to go. #livewhoyouareandwhereyouwanttobe
📞 (401) 246-7614
