Top Mega Teams in Rhode Island – Ranked by Sides

Download the Rankings

  • Choose Location
    • No qualifiers found. Please navigate to a different category.

    Download the Rankings

    2022 Market Summary

    Rhode Island started 2022 with a total of 668 single-family homes on the market, with a median home price of $459,900 and an average price per square foot of $362. By the end of the year, inventory had increased to 747 homes on the market (+11%), with a median home price of $475,000 (+3%) and an average price per square foot of $355 (-1%).

    At the start of 2022, the median days on market (DOM) was 49 days – by the end of the year, median DOM had increased to 56 days.

    Rhode Island started the year with 20% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 26% of Rhode Island homes for sale had taken a price cut.

    Finally, Altos’ proprietary Market Action Index (MAI) shows that Rhode Island started 2022 as a strong seller’s market, with an MAI score of 59; by the end of the year, the MAI had dropped to 46 – a strong seller’s advantage.

    This market summary is powered by Altos Research – click here to run a free report for your area.

    Latest Posts

    Orlando, Florida, USA Downtown Drone Skyline Aerial

    Amid rising housing costs, prospective homebuyers are looking to relocate: Redfin 

    Nov 20, 2023By

    A record 26% of homebuyers are looking to move to a different part of the country, up from 24% a year ago and 19% before the pandemic began, a Redfin report found. 

    Housing Market News

    for sale home

    Pending home sales fall to their lowest level in two decades 

    Nov 30, 2023By

    Pending home sales in October fell to their lowest level since 2001 as mortgage rates hit 8%. Still, the Northeast posted a monthly gain in transactions.

    Frequently Asked Questions

    Run a Report
    presented-by-Altos