The market is into Multis! This month’s RI real estate data shows that the median price of multifamily homes has increased 78.7% in the past four years, hitting a new record of $545,000 last month. Real estate continues to be a solid investment, and multis enable buyers to make significant gains on the full value of their investment, often while also providing buyers with a place to call home!

Single family homes continue to increase in value with the continued squeeze on inventory (only 2 months worth!) leading to a decrease again this month in the number of homes going under contract and the number of homes closed.

Data Points provided by the Rhode Island Association of Realtors®.