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February gave us a clear signal: Rhode Island’s housing market isn’t slowing down, it’s tightening.
A combination of winter weather, economic uncertainty, and an ongoing supply shortage pushed single-family home sales down 13.6% year-over-year, with just 349 homes sold—the lowest February total since 2011. At the same time, pending sales dipped 4.8%, suggesting continued pressure in the months ahead.
But here’s the real story…
Despite fewer sales, prices continue to rise.
The median single-family home price climbed to $475,000, up 4.3% year-over-year, driven by one core issue: lack of inventory. Rhode Island is currently sitting at just 1.4 months of housing supply, which is considered a severely constrained seller’s market .
What This Means (Plain and Simple)
When inventory is this low:
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Buyers face more competition and fewer choices
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Sellers maintain strong leverage
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Prices remain elevated—even when sales slow
This is exactly what we’re seeing play out.
A Look Across the Market
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Multifamily homes showed modest resilience, with sales up 2.4%, though pending activity dropped sharply—pointing to a likely slowdown ahead.
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Condos took the biggest hit, with sales down 20.2% and prices falling 11.8%, making them the most affordable entry point—but still not immune to declining demand.
The Bigger Picture
Economic factors are adding another layer:
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Rising energy costs
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Tariff-related price increases
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Interest rates holding steady
All of this is keeping some buyers on the sidelines while those still in the market are competing for limited inventory.
My Take
This isn’t a weak market. It’s a constrained one.
And in markets like this, strategy matters more than timing.
Whether you’re buying, selling, or just trying to understand your options, the difference between success and frustration comes down to how well you navigate the conditions—not just react to them.
Thinking about making a move?
Let’s talk. I’ll help you cut through the noise, understand your position, and create a strategy that works in today’s market.
📩 Message me directly or connect with me to get started.
Tony Verdi
Broker Associate
Coldwell Banker Realty
401.225.7800
tony.verdi@cbrealty.com
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