The price of a single-family home in Rhode Island has nearly doubled since 2019, with the median price of a single family home now just short of a half-million dollars.
“It’s nuts, it’s crazy, it’s nuts,” said Redfin real estate agent Bryan Quinlan.
Quinlan recently listed a single-family house in Coventry for $510,000 – a price that left him reeling.
“It’s just a normal house,” he said. “Three bed, one bath. A ranch. It’s not even on the water.”
“I don’t want to say it’s absurd, but prices have gone a little absurd,” he continued. “There’s no other way to put it, no other way to talk. This is the new normal.”
In June, the median price for a single-family home hit $494,000. Five years ago, in the pre-pandemic days of 2019, the median price was $250,000.
How high are prices?
Obviously, prices are high.
Really, really high. South Shore of Massachusetts in 2019 high .
Which is also to say that, while Rhode Island has gone high, Massachusetts has gone higher – now at an estimated $635,000 median price for a single-family house.