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What is the Condition of the Real Estate Market in RI?

Home » Rhode Island » Rhode Island: Real Estate Market » What is the Condition of the Real Estate Market in RI?

Not unlike any other state, Rhode Island real estate has been in a state of frenzy. Prices of homes and condominiums have risen dramatically. Last year the median price of a home was $225,000 and now it is at $259.000 and condominiums are in the range of $189,000 to over $300,000. The median is a typical market price where half of the homes sold for more and half sold for less. Prices in the Rhode Island area had not had a rise that significant since 1980.

Last year, Rhode Island had the third highest rate of appreciation when compared to all other states, with a 97.6 appreciation rate over the last five years.

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