News

Warwick, R.I. – August 20, 2026 – Today, the Rhode Island Association of Realtors reported that the median price of single-family home sales in the Ocean State continued to increase year-over-year last month, rising to $525,000 from $505,000 in July 2025. Rising prices and recent mortgage rate increases prompted fewer sales than the prior year, helping to increase the number of homes on the market.

Josh McGinn of Putnam, Connecticut, has been named Director of Professional Development at the Rhode Island Association of Realtors (RI REALTORS). In his new role, he will oversee the development and delivery of educational programming for the 6,000-member trade association, as well as education programs for consumers. McGinn brings 25 years of experience

RI REALTORS® has been made aware of a fraudulent email currently being sent to some members claiming that their membership payment is past due. The email may appear to come from RIAR or State-Wide MLS and includes language requesting that recipients reply to receive payment instructions. This message is not legitimate and was not sent by RIAR or State-Wide MLS.

Now that Rhode Island's new statewide Non-Owner-Occupied Property Tax has taken effect, REALTORS® working with any type of residential property, which can include 2-, 3-, and 4-unit dwellings depending on the municipality,  should be aware that some of these properties may now be subject to the tax.

A common misconception is that the tax only affects luxury single-family homes or vacation properties. In reality, the tax applies more broadly. Any property that is classified as residential by the municipality, is not owner occupied, and has an assessed value of $1 million or more may be subject to the tax unless the owner can document that an exemption applies.

Rhode Island's housing market posted year-over-year gains in closed sales across all residential property types despite ongoing economic uncertainty. Single-family home sales led the way with a 14% increase - the first annual gain in closed transactions this year - while the median sales price climbed to a record monthly high of $550,000, up 5.8% from June 2025.

Reminder: Starting on July 1, 2026, owners of residential dwellings that are assessed at more than $1 million are required to pay a new quarterly state property tax on the portion that is over $1 million unless the owners can document that (1) they live in the property for 183 days or more or (2) rent to tenants during the tax period.

With the 2026 Rhode Island legislative session now complete, RI REALTORS® has released its digital 2026 Legislative Wrap-Up, highlighting the key real estate-related outcomes from the more than 300 proposed bills the Association monitored this year. 

Effective July 1, 2026, Rhode Island's new Survivor Early Lease Termination Act gives certain residential tenants the right to end a lease early without penalty and, in some situations, request that their landlord change the locks. The law is intended to help survivors quickly leave unsafe living situations while providing landlords with clear procedures to follow.

Warwick, R.I. – June 18, 2026 – May sales data from the Rhode Island Association of Realtors marked a reversal of a long-standing trend of single-family home median price gains year-over-year. For the first time since January 2017, last month's median price of $500,000 represented a 2.5% decline from 12 months earlier.

The Rhode Island Association of REALTORS® has released a new accessibility guide to help members better understand common home accessibility features and modifications that can support aging in place and independent living.