The 20 Hottest Real Estate Towns in Rhode Island

The 20 Hottest Real Estate Towns in Rhode Island

Summer may be all but over with cooler weather fast approaching, but the housing market in Rhode Island continues to heat up, according to the Rhode Island Association of Realtors. At the end of August, they announced that single family home sales rose 22 percent in July from 12 months earlier, with the median price bumping up from $207,000 to $216,000 during the same time period -- among other factors indicating a housing market upswing.

"Certain areas heat up due to increased consumer confidence and lack of new supply. Neighborhoods that show "pride of ownership" always attract new buyers," Arthur Chapman with Willaim Raveis told GoLocal. "There are "hot spots" all over the state, but areas near the coast where there is second home activity and good summer rental history are extremely hot. "

Stephen Readey with Residential Properties similarly saw coastal areas as being hot, but added that urban areas also were gaining pull.  "Areas along the water are always in demand, but Jamestown and South Kingstown have been particularly active, posting a 93% and 55.5% increase over the second quarter as compared to last year," Readey told GoLocal.  

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"A number of factors can contribute to a rush in any particular area, including new business opportunities, societal changes, and the state of the economy," he continued.  "I believe that urban centers will become particularly popular in the near future as rising gas prices, the green movement, and a more health conscious society influence people to live in areas where they can walk to everything they need."

What are the "hottest" towns in Rhode Island?  

With the market gaining traction in Rhode Island, GoLocalProv examined the most recent median house sale prices (May-July 2013) for every town and city in the state, looking for the biggest jumps since last year.

See who posted the largest gains in median price since 2012, as well as average cost per square foot and how that's changed, and also relative activity in year-over-year in home sales. The hot spots vary -- and may surprise you. See where the action is, right now, in the real estate market.