NEW: Median Price of a Single-Family Home in April Jumps 10.2% Year Over Year

NEW: Median Price of a Single-Family Home in April Jumps 10.2% Year Over Year

 

If there was hope that Rhode Island home prices had stabilized — that hope may be lost after the release of the home sales numbers for April.

 

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Year-over-year however, data released by the Rhode Island Association of Realtors shows that the Ocean State’s housing issues show little overall improvement.

 

In April, the median sales price of existing single-family homes was $529,000, up 10.2% from April 2025.

 

While the number of listings on the market increased both month-to-month and year-over-year, sales fell 6.9% from a year ago, and transactions in process fell 12.9%, a sign of slower future sales.

 

This home data, coupled with a new Zillow report on rising rental costs in Providence, offers little relief to those looking for a place to live in Rhode Island. Providence is the "hottest' rental market in the U.S.

 

“Affordability remains the issue. Price hikes, not only in the price of the properties themselves, but in related expenses like insurance, oil and other home goods and services, have created a situation for too many prospective buyers where home ownership is a pipe dream. Rhode Island’s real estate taxes and fees for new regulations also continuously increase, creating even more financial burdens for homeowners, buyers, sellers and renters,” said Michael Pereira, President of the Rhode Island Association of Realtors.