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
Thousands drop public health insurance coverage in RI after premiums spike
Health care premiums set to rise as ACA subsidy deal collapses
Obamacare subsidies are set to expire after Congress failed to reach a deal, leaving millions facing higher health care costs.
Thousands of Rhode Islanders dropped health insurance coverage through Rhode Island’s public insurance marketplace instead of maintaining plans with rising premiums and lower subsidies, HealthSource RI said.
Enrollment through HealthSource, Rhode Island’s “Obamacare” exchange, plunged 20% between the end of last year and the close of the annual enrollment period a month later, as federal funding for premium tax credits expired, according to a HealthSource new release.
There were 48,060 individual and family enrollments on Dec. 31 of last year, the day the premium subsidies from the American Rescue Plan and Inflation Reduction Act ended.
On Feb. 1, there were 38,557 enrollments.
Before this drop, HealthSource has posted enrollment increases almost every year since Affordable Care Act exchanges launched in 2013.
How did we get here?
Last year, the Republican-controlled federal government declined to extend premium tax credits after a protracted budget battle with congressional Democrats, who are now negotiating to restore the health insurance subsidies.
The lapse in subsidies coincided with an increase in premiums, driven by a combination of factors, which sent the total cost of coverage climbing.
The average premium across HealthSource enrollees more than doubled (101%,) the exchange said, or $111 per person, per month.
Many enrollees opted for cheaper insurance plans despite their higher deductibles and out-of-pocket costs.
Others dropped coverage altogether.
“The increase in premiums, combined with the decrease in federal supports, makes this an incredibly challenging year for folks depending on HealthSource RI for health coverage,” HealthSource Director Lindsay Lang said in the release. “Having health coverage helps protect against one bad turn of luck becoming years of financial burden. We will work with every customer to find options that are best for their needs and budget, and continue to work with state leaders and our federal delegation to find long-term solutions.”
Could help be on the way?
Gov. Dan McKee included $9.5 million in his proposed state budget for the year starting July 1 to subsidize coverage for some of the lowest-income exchange enrollees.
The enrollment declines show that may be too little for some Rhode Islanders, and too late for others.
“It is disheartening but not surprising that, as President Trump’s policies have caused health insurance costs to skyrocket, more Rhode Islanders are struggling to pay for health coverage,” McKee said.
Since the exchange opened in 2013, Rhode Island’s uninsured rate has declined by two thirds, down to 2.2%, HealthSource said.
Rhode Island
RI Lottery Powerball, Numbers Midday winning numbers for March 9, 2026
The Rhode Island Lottery offers multiple draw games for those aiming to win big.
Here’s a look at March 9, 2026, results for each game:
Winning Powerball numbers from March 9 drawing
22-23-28-36-54, Powerball: 13, Power Play: 3
Check Powerball payouts and previous drawings here.
Winning Numbers numbers from March 9 drawing
Midday: 5-7-4-4
Evening: 2-1-3-2
Check Numbers payouts and previous drawings here.
Winning Wild Money numbers from March 9 drawing
02-14-16-34-35, Extra: 10
Check Wild Money payouts and previous drawings here.
Winning Millionaire for Life numbers from March 9 drawing
06-16-26-41-43, Bonus: 03
Check Millionaire for Life payouts and previous drawings here.
Feeling lucky? Explore the latest lottery news & results
Are you a winner? Here’s how to claim your prize
- Prizes less than $600 can be claimed at any Rhode Island Lottery Retailer. Prizes of $600 and above must be claimed at Lottery Headquarters, 1425 Pontiac Ave., Cranston, Rhode Island 02920.
- Mega Millions and Powerball jackpot winners can decide on cash or annuity payment within 60 days after becoming entitled to the prize. The annuitized prize shall be paid in 30 graduated annual installments.
- Winners of the Millionaire for Life top prize of $1,000,000 a year for life and second prize of $100,000 a year for life can decide to collect the prize for a minimum of 20 years or take a lump sum cash payment.
When are the Rhode Island Lottery drawings held?
- Powerball: 10:59 p.m. ET on Monday, Wednesday, and Saturday.
- Mega Millions: 11:00 p.m. ET on Tuesday and Friday.
- Lucky for Life: 10:30 p.m. ET daily.
- Millionaire for Life: 11:15 p.m. ET daily.
- Numbers (Midday): 1:30 p.m. ET daily.
- Numbers (Evening): 7:29 p.m. ET daily.
- Wild Money: 7:29 p.m. ET on Tuesday, Thursday and Saturday.
This results page was generated automatically using information from TinBu and a template written and reviewed by a Rhode Island editor. You can send feedback using this form.
Rhode Island
Spring And Summer Concert Guide: 10 Can’t-Miss Shows In Rhode Island
Whether with a stop on a national or international tour or a regional favorite, the spring and summer concert calendar is filling up in Rhode Island.
The Ravers, Newport’s reggae band, comes to Rhode Island in April. There are plenty of concerts in the area that will have you dancing all spring and summer long, including some regional favorites.
We’ve rounded up 10 concerts in Rhode Island that are worth getting on the calendar. And speaking of calendars: Are you planning an event this spring? Feature it, so nearby readers see it all across Patch — including in roundups like this!
Here’s what you need to know about upcoming concerts:
- Candlelight: Tribute to Queen and The Beatles, March 20, Bishop McVinney Auditorium, Providence
- Soulful Sounds in Pawtucket, April 3, Hope Events on Main, Pawtucket
- Ravers Night! April 11, Newport Vineyards & Winery, Middletown
- Corvettes — Doo Wop Revue, April 19, Courthouse Center for the Arts, Kingstown
- “Dancing at the Forty Steps” – Newport Irish Heritage Month flagship event, March 29, the Forty Steps on Cliff Walk, Newport
- Newport Classical: Yevgeny Kutik & Llewellyn Sanchez-Werner, April 10, Newport Classical Recital Hall, Newport
- Newport Classical: Zijian Wei performs Ravel and Liszt, May 8, Newport Classical Recital Hall, Newport
- Newport Classical Finale: Amir Hoshang Farsi and Chelsea Wang, June 5, Newport Classical Recital Hall, Newport
- An Evening With John Legend, April 26, Providence Performing Arts Center, Providence
- Ani DiFranco with Special Guest Valerie June, May 8, Providence Performing Arts Center, Providence
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