Rhode Island started 2024 with a total of 657 single-family homes on the market, with a median home price of $539,000 and an average price per square foot of $388.06. By the end of the year, inventory had increased to 740 homes on the market (+13%), with a median home price of $549,000 (+2%), and an average price per square foot of $428 (+10%).
At the start of 2024, the median days on market (DOM) was 56 days – by the end of the year, median DOM had decreased to 56 days.
Rhode Island started the year with 23.29% 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 23.78% of homes for sale had taken a price cut.
