On a month-to-month basis, single-family home price growth has slowed in Rhode Island, according to the Rhode Island State-Wide Multiple Listing Service, Inc. The median home price in June rose 12 percent ($430,000) year over year, and in July, prices rose 8 percent ($410,000). The cost of a home increased 4 percent in August to $405,000 from $390,000 in August 2021. The median price of a single-family home was $333,164 in August 2020. Homebuyers purchased more houses in August (970) than in July (928), but sales dropped 11 percent compared to August 2021, when there were 1,095 closed sales.
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