Rhode Island's housing market has seen a significant increase in median sales prices for single-family homes, rising from $309,500 five years ago to $512,750 in May. Abby and Eric Smallwood reflected on their decision to purchase a home in East Providence after observing the price surge. They noted the urgency of entering the market before Rhode Island prices reflect those of Greater Boston, which boasts a median price over $1 million. Chris Whitten, president of the Rhode Island Association of Realtors, emphasized that this increase highlights Rhode Island's appeal, especially compared to higher prices in neighboring states.
"We've seen how the price [of homes in Rhode Island] has kind of jumped, you know, slowly, and then it just, like, [took off] over the past two years."
"If you look at the median price from ... five years ago versus today, it's nearly doubled," said Chris Whitten, president of the Rhode Island Association of Realtors.
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