9 RI Communities - The Median Price of a Home is $700K or More

9 RI Communities - The Median Price of a Home is $700K or More

If you are looking to purchase a home in Rhode Island, you may have seen GoLocal’s report two weeks ago that the median price across the state is now nearly $500,000.

But what may be more astounding is that in nine communities across the state, the median price exceeded $700,000 in June.

And, some of the cities and towns that made the list may be surprising.

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SEE THE 9 COMMUNITIES BELOW

 

Providence Price Explosion

No place has seen a bigger price explosion than Providence.

In June of 2023, the median price of a single-family was $370,000 — more than Pawtucket, Woonsocket, Central Falls and West Warwick, but all of the so-called urban corridor communities were under $400,000.

Now, just one year later, Providence housing prices have exploded.

Providence prices have increased a staggering 90% in one year.

The median price of a single-family home is now $705,000.

And, the increase is not based on an aberration of the number of properties sold in June of 2023 v. June of 2024; the number of homes is nearly identical.

In June of 2023, 55 homes were sold in Providence, and that number increased to 60 in 2024.

 

SEE THE 9 COMMUNITIES BELOW