Is Now the Right Time to Buy in Rhode Island? A Look at Local Market Trends

If you've been watching the Rhode Island real estate market and wondering, “Is now the right time to buy?” — you're not alone. With interest rates fluctuating, low inventory persisting, and plenty of headlines creating confusion, it's tough to know when to make your move.

Here’s a look at what’s really happening in the Ocean State—and how to decide if now is the right time to buy.

🏡 Spring and Summer Are Active Buying Seasons

In Rhode Island, the real estate market tends to heat up with the weather. Spring and summer are the most active seasons for new listings, open houses, and buyer competition. That means more inventory to choose from, but also more competition—especially for move-in ready homes in desirable areas like East Greenwich, Barrington, and Narragansett.

If you're looking to take advantage of more options, now through early summer could be the sweet spot.

📉 Interest Rates Are Volatile—But Not Forever

Yes, interest rates are higher than the historic lows of 2020 and 2021. But they're still well within average ranges over the past few decades. Many buyers are adopting a “buy the home, refinance the rate later” mindset—especially in Rhode Island where desirable homes don’t sit on the market long.

Waiting for the “perfect” rate could mean missing out on the right home altogether.

🌊 Desirable Coastal & Commuter Towns Are Still in Demand

Rhode Island’s small size means that even if you’re inland, you’re never far from the coast. Towns like South Kingstown, Jamestown, and Portsmouth continue to see strong buyer demand due to their proximity to beaches, lifestyle perks, and ease of access to both Providence and Boston.

Homes in these areas tend to move fast, so working with a local expert who can help you move quickly is key.

📊 What the Numbers Say Right Now

As of spring 2025:

• Inventory is still limited, but slowly growing.

• Home prices are stabilizing in many markets.

• Many sellers are offering credits or rate buy-downs to attract buyers.

• Properties under $500,000 are receiving the most competition, while luxury homes are sitting a bit longer.

This means the market is more balanced than it was in the past few years—giving buyers a better shot at securing a home without a bidding war.

🧠 So... Should You Buy Now?

Here are a few reasons now might be the right time:

• You’ve been pre-approved and have a clear budget.

• You’re ready to stop renting and build equity.

• You’re looking in a high-demand area and want to beat summer crowds.

• You’re flexible and open to seeing homes off-market or pre-list.

If any of those apply to you, waiting might cost you more—in either price or missed opportunity.

👋 Let's Talk About Your Next Move

Every buyer’s situation is different. Whether you're just starting your search or actively looking, the best way to know if now is the right time is to talk it through with someone who understands the market and your goals.

Ready to chat? Let’s set up a quick call and create a strategy that works for you—and puts you one step closer to home.