Mixed Indicators: Where Rhode Island Residential Real Estate Market Is Heading

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Saturday, November 06, 2021

 

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2022 market may be more turbulent PHOTO: GoLocal

There is growing uncertainty about the future of the national and Rhode Island residential real estate market.

Locally, every month has seen double-digit year-over-year increases in prices. Now, the median price of a single-family home in Rhode Island is $385,000.

Residential real estate prices have been on a rocket ship upward — but there are some early indications that the market may be changing.

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One example of the growth is Residential Properties, which sold a record amount of real estate to date in 2021. The company has sold more than $1 billion dollars in just 10 months, breaking its own record of $1 billion in 12 months in 2020.

And, now there are some indicators that the real estate market may face some serious challenges — one of the…

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