Rhode Island
Is Now the Right Time to Buy or Sell in Rhode Island's Real Estate Market? – Newport Buzz
by Connor Dowd
As of February 2025, Rhode Island’s real estate market is experiencing notable activity, prompting both buyers and sellers to evaluate their positions. Recent data indicates a dynamic environment with rising home prices and increased sales activity.
Current Market Trends
- Home Prices: The median home price in Rhode Island reached $470,000 in December 2024, marking a 10.1% increase from December 2023. This upward trajectory continued into January 2025, with home prices up 9.8% year-over-year.
- Sales Activity: December 2024 saw a 30.3% rise in year-over-year home sales, the largest annual gain since January 1999. This momentum carried into January 2025, with the number of homes sold increasing by 6.6% compared to the previous year.
- Inventory Levels: The number of homes for sale rose by 1.7% in January 2025, indicating a slight easing of the previously tight inventory. Experts anticipate that inventory will continue to increase, potentially reaching about 1,500 units on the market.
Market Forecast
Providence, Rhode Island’s capital, is projected to be the third hottest major housing market in the U.S. for 2025, according to a recent analysis by Zillow. This forecast suggests sustained demand and competitive conditions in the region.
Considerations for Buyers
For prospective buyers, the current market presents both opportunities and challenges. While increasing inventory may offer more options, rising home prices and potential competition, especially in sought-after areas like Providence, necessitate prompt and informed decision-making. Additionally, interest rates remain a crucial factor to consider, as they directly impact mortgage affordability.
Considerations for Sellers
Sellers are in a favorable position due to the appreciating home values and robust sales activity. The heightened demand, particularly in markets like Providence, coupled with still-limited inventory, provides an advantageous environment for achieving strong sale prices.
Why Working with a Realtor is Essential
Navigating today’s real estate market—whether buying or selling—requires expert guidance, market knowledge, and strong negotiation skills. That’s where The Dowd Team at Keller Williams Realty comes in.
Our team understands the nuances of Rhode Island’s fast-paced market and provides clients with the insights they need to make confident decisions. With a deep understanding of pricing trends, local neighborhoods, and negotiation strategies, we ensure that buyers secure the best possible deals and sellers maximize their returns.
From first-time homebuyers to seasoned investors, we offer a seamless experience, handling everything from property searches and marketing to closing negotiations and paperwork. In a competitive market like Rhode Island’s, working with an experienced Realtor can make all the difference in achieving your real estate goals.
Conclusion
The Rhode Island real estate market in early 2025 is characterized by rising home prices, increased sales, and gradually improving inventory levels. Buyers should be prepared for a competitive landscape and act swiftly when opportunities arise, while sellers can capitalize on the current demand and favorable pricing trends. As always, individual circumstances and financial considerations should guide decisions, and consulting with a trusted real estate professional—like The Dowd Team—ensures you have the right strategy in place.
If you’re thinking about buying or selling in Rhode Island, reach out to The Dowd Team at Keller Williams Realty today. Let’s navigate the market together and achieve your real estate goals!
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Rhode Island
RI Senate unveils 17-bill package to improve health care
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PROVIDENCE – For the third year in a row, Senate leaders are seeking to fix what’s broken in Rhode Island’s health care system.
The stated goal of the 17-bill package unveiled on Thursday, March 12: “Supporting Rhode Islanders in crisis, protecting patients and providers, and strengthening the state’s health workforce.”
“For the well-being of our communities, and the future of our state, it is imperative that we do everything in our power to ensure the stability and sustainability of our health system, and to make essential care both accessible and affordable for every Rhode Islander,” Senate President Valarie Lawson said.
“While we know that solving the crisis cannot be accomplished through any single piece of legislation, or any one collection of bills, those being highlighted today build on our past progress and help address the most pressing needs of this moment,” added Sen. Melissa Murray, the chair of the Senate Committee on Health & Human Services.
Highlights
Some of the measures will sound familiar. Others reflect the recent recommendations of the legislative commission that spent months studying the arguments for and against creation of a medical school at the University of Rhode Island, before heartily recommending one.
“A state medical school would provide transformative long-term benefits for the state’s healthcare system, economy, and communities. Most critically, it would strengthen the pipeline of primary care physicians at a time when the state faces a growing shortage and an aging workforce,” the commission’s final report said.
“Without action,” the report warned, “Rhode Island risks falling further behind in physician supply workforce retention, and healthcare access, especially in primary care and underserved areas.”
Sen. V. Susan Sosnowski’s bill asks or an initial $5 million in the 2026-27 budget year to hire a “founding dean” and other staff to begin to establish the much-discussed medical school at URI to produce a permanent pipeline of much-needed primary care doctors for the state.
Her bill anticipates the need for $7 million a year later, and $8 million the year after that before the first student enrolls.
While some student loan assistance is already available for health care professionals, Sen. Hanna Gallo’s bill would commit $500,000 in state dollars to paying up to two years of medical school loans, for health care professionals who commit to working in Rhode Island for at least two years.
A related bill from Sen. Pamela Lauria’s bill would provide scholarships for students in a medical or nursing school or a “physician assistant” training program who commit to working here. (It is not yet clear how much more assistance these bills would provide than what is currently available.)
Other bills seek more regulation – and a deep-dive by the attorney general – into the “effectiveness and performance” of the controversial intermediaries in the prescription drug market known as “pharmacy benefit managers.”
Another is the latest, by Lauria, in a decades-long effort to pass an “I’m sorry” bill that makes statements of “apology or concern by a health care provider to a patient, a patient’s relative or representative … is inadmissible [in court] as evidence of liability or admission of fault.” According to its backers 39 other states have similar laws.
As The Journal wrote in 2007: Even in cases in which no medical error was involved, “doctors, hospitals and their insurers worry that any empathy expressed will be construed as an admission of wrongdoing and used against them in a lawsuit.”
In that same vein: Sen. Mark McKenney, a retired lawyer, wants to launch a study, by a 13-member special legislative commission, of “the impact of medical malpractice claims on health care providers and costs.”
Among the other highlights:
Artificial intelligence safety guidelines: One of Sen. Lori Urso’s bills seeks to prohibit the operation of “AI companion models and chatbots … unless the provider has a protocol for addressing possible suicidal ideation, self-harm, other physical harm, or financial harm.” A second would prohibit use of internet-based artificial intelligence to provide therapy by anyone other than a licensed professional, or to transcribe therapy notes without patient consent.
Vaccinations: Sen. Linda Ujifusa’s bill would require coverage of all immunizations recommended by the Department of Health by all insurers and the state Medicaid program, without any cost sharing, starting on Jan. 1, 2027.
Pharmacy benefit managers: This three-bill set would impose new rules on how these intermediaries interact with pharmacies, require they obtain “individual certificates of authority” from the Department of Business Regulation to do business in Rhode Island and mandate a study of the “performance and cost-effectiveness of the state’s current prescription drug management for the Medicaid Program.”
Emergency mental and behavioral health services: Companions bill would make both the 24/7 suicide prevention and crisis hotline currently known as “988” – and the separate program that provides the “mobile response” of trained behavioral health clinicians to children in crisis – permanent fixtures in state law, provide money to fund them, and set a minimum reimbursement rate.
Rhode Island
Rhode Island hockey star, whose trans father gunned down family, scores game-winning goal — sending team to championship
The Rhode Island hockey player whose family was gunned down by his deranged trans father during one of his games last month scored the winning goal to send his team to the championship — as he honored his slain relatives.
Blackstone Valley School’s star captain Colin Dorgan netted the game-winning goal — in double overtime — Wednesday night in Providence before his Beavers teammates mobbed him on the ice, celebrating their berth to the Division II final.
The senior defenseman, wearing a patch on his uniform with the initials of his mother, brother and grandfather, called it “the greatest moment of my life,” according to WPRI.
Dorgan, who attends North Providence High School but plays for the Blackstone Valley co-op team, found himself in an offensive position and took a leading pass into a breakaway before sniping the puck past the goalie with 48 seconds left in double overtime.
“My good buddy fed me the puck, and I could hear the crowd. It was a surreal moment,” Dorgan told the outlet after the game.
While his teammates mobbed Dorgan, Blackstone Valley School’s head coach Chris Librizzi was overcome with emotion.
“I literally cried like a baby, the floodgates opened,” Librizzi said. “When I saw him open, I knew he was golden.”
Dorgan was on the ice at the Dennis M. Lynch Arena in Pawtucket on Feb. 16 when his father, Robert Dorgan, opened fire in the stands, killing his ex-wife, Rhonda Dorgan; their adult son, Aidan Dorgan; and his ex-father-in-law, Gerald Dorgan.
Gerald’s wife, Linda, and family friend Thomas Geruso were both critically wounded in the shooting.
The crazed gunman, who identified as transgender and also went by Roberta Esposito, then turned the gun on himself.
After the shooting, it was revealed that the 56-year-old gunman had recently undergone gender reassignment, and his trans identity and unhinged personality were a source of multiple family court battles leading up to the shooting.
Follow The Post’s latest coverage on the Rhode Island high school hockey shooting
The maniac gunman had also shared surnames with his in-laws because he and his ex-wife, who married in 1992, were first-cousins once removed.
Colin Dorgan praised his teammates for supporting him after the unimaginable loss he experienced last month.
“We have to stick together,” he said. “It’s a hard time for everyone. We have each other’s back, and we truly love each other. These are my brothers.”
Librizzi revealed he took in Dorgan and his sister, Ava, after they lost their family in the tragic shooting.
“We got together every single day,” Librizzi said. “We skated, worked out, or had dinner at night together for 14 days straight. I believe that made a difference.”
Fans inside the Schneider Arena at Providence College erupted with joy after Dorgan’s goal.
The overtime hero acknowledged the fanatics during his celebration, posing with his arms wide open, mouthing “Let’s go,” after the win, according to video from WPRI.
“I know every person out there loves me, and I love them, too,” Dorgan said.
Rhode Island
Wicked Tulips announces move to North Kingstown
Wicked Tulips announced it is opening a new location in North Kingstown.
Its new location on 140 Exeter Rd. is double the size of its previous location.
The business said it will be keeping its second location in Preston, Connecticut.
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The farm is projected to open on April 22, 2026.
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