The value of single family homes and multis in RI just keeps going up and up! Single family homes increased in value by 9% and multis by a whopping 15.6% (year over year). Interestingly, condo values have decreased close to 8% year over year. Inventory remains tight at 2.3 months (balanced being between 5 & 6 months) but it has ticked up slightly from August’s 1.8 months.

We will see how interest rate decreases affect the market, most evidently in new home building and current home inventories!

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