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Rhode Island single-family home sales drop in February amid high prices, but multifamily sales rise – The Boston Globe

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Rhode Island single-family home sales drop in February amid high prices, but multifamily sales rise – The Boston Globe


PROVIDENCE — Single-family home sales in Rhode Island plunged nearly 9 percent in February compared to the same time last year amid a continuing increase in prices, the state’s Association of Realtors said on Friday.

Last month, single-family homes sold for a median price of $455,500, a 3.5 percent year-on-year rise from February 2024. Pending sales, which is a forward looking indicator, fell more than 10 percent, in what realtors described as a sign of “waning” demand from buyers.

Another segment of the housing market performed better last month.

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Multifamily sales shot up nearly 8 percent even as prices rose to a median price of about $560,000, a close to 8 percent jump from the same time a year ago. But pending sales fell by about 7 percent, a signal that demand for multifamily units could also be facing a slowdown.

A multifamily property could be a good investment decision for buyers, said Chris Whitten, the president of the Rhode Island Association of Realtors.

“The upside to owning a multifamily has always been the great potential to obtain passive rental income and the ability to gain generational wealth,” he said in a statement. “More importantly, in today’s housing crisis, multifamilies are also a very desirable option for multigenerational families or an owner-occupied buyer looking to reduce monthly costs through rental income.”

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Meanwhile, condo sales also went up in February by 3.5 percent as prices soared 22 percent from a year ago. But in another signal of a decline in demand in the market, pending sales fell 18 percent year-on-year.

Supply continues to be a challenge in Rhode Island, the realtors association said.

At the current rate of sales, single-family homes currently on the market will be sold in just 1.5 months, suggesting there is more demand than available homes for people to buy. Multifamily homes have a 1.9 month window while condos are at 1.7 months. Typically, a real estate market is considered healthy when there is enough supply of homes available for sale for a period of six months.

“It pains us to see Rhode Island continue to be dead last in new construction year after year. Although we’re making slow progress in many ways, we still have a long way to go,” Whitten said. “The road to fully repairing our housing crisis here in the Ocean State is a marathon, not a sprint. But the urgency to make the sensible changes needed remains dire.”


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Omar Mohammed can be reached at omar.mohammed@globe.com. Follow him on Twitter (X) @shurufu.





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Rhode Island

Person injured after falling onto Red Line tracks near Rhode Island Avenue station

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Person injured after falling onto Red Line tracks near Rhode Island Avenue station


A person was hurt after falling onto Metro tracks near the Rhode Island Avenue Metro Station in Northeast, D.C. on Friday, according to city and transit officials.

Shortly before noon, officials said the person fell onto the tracks and was hit. The person was removed from the tracks by D.C. Fire and EMS crews and taken to a local trauma center conscious and breathing, D.C. officials confirmed at around 1 p.m.

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Trains were briefly single-tracking between the Rhode Island Avenue and NoMa-Gallaudet U stations.



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Flags are at half-staff in Rhode Island today. Here’s why

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Flags are at half-staff in Rhode Island today. Here’s why


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On Friday, May 15, flags will be flown at half-staff across the United States to commemorate Peace Officers Memorial Day.

Recognized each year since 1962 as part of May’s National Police Week, the national observance pays tribute to United States law enforcement officials who gave their lives in the line of duty, whether at the local, state or federal level.

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“United in gratitude, we recommit ourselves to supporting those who keep the peace in our neighborhoods, and we offer our heartfelt appreciation for the service they render to community and country,” reads a proclamation from President Trump. “Their steady presence brings calm to our streets, their dedication preserves the order that allows our Nation to flourish, and their unwavering vigilance is the reason families across America can rest under the promise of a safer tomorrow.”

In memory of those who made the ultimate sacrifice, the flag of the United States at all public buildings and grounds across the country and its territories – including in Rhode Island – will fly at half-staff from sunrise to sunset on Friday, May 15.

Why are flags flown at half-staff?

According to the official website of the U.S. General Services Administration, flags typically fly at half-staff when the country or specific state is in mourning. Observances include national tragedies, days of remembrance and deaths of government or military personnel.

The president, the state governor or the mayor of Washington, D.C., can order flags to fly at half-staff.

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Half-staff vs. half-mast

While half-staff refers to lowered flags on land, half-mast refers to those at sea. Both refer to a flag being flown beneath the top of its staff as a sign of respect.



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Star-studded cast of ‘My Boyfriend is a Demon,’ filming in RI, released

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Star-studded cast of ‘My Boyfriend is a Demon,’ filming in RI, released


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  • A new horror movie titled “My Boyfriend is a Demon” is currently filming in Rhode Island.
  • The film follows a lonely girl whose fake Instagram boyfriend materializes in real life.
  • The cast includes children of famous actors, such as Mattias Ferrell and Coco Arquette.
  • Veteran actors David Arquette and Rosanna Arquette are also part of the ensemble cast.

Verdi Productions’ secret horror movie, “My Boyfriend is a Demon,” now filming in Rhode Island, is no longer a secret as Chad A. Verdi, the East Greenwich production company’s president, has announced the cast and given an outline of the movie’s plot.

The ensemble cast comprises veteran actors and rising young talents. The story follows Mary, a lonely, small-town girl who creates a fake Instagram account that pretends to be boyfriend, a guy too perfect to be real. Mary puts so much effort into making him “real” that he shows up at her door one day.

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The cast includes:

  • Mattias Ferrell, son of comic actor Will Ferrell and known for “A Very Jonas Christmas Movie” and “Anchorman 2: The Legend Continues.”
  • Coco Arquette, daughter of Courteney Cox and David Arquette and known for “Cougar Town.”
  • David Arquette, known for his work in the “Scream” film franchise.
  • Rosanna Arquette, David’s sister and Coco’s aunt, known for “The Moment.”
  • Bailey Sloan, known for “Ragamuffin.”
  • Jack Champion, known for “Avatar.”
  • Ever Anderson, known for “Peter Pan & Wendy.”
  • Vinnie Hacker, known for “Euphoria.”
  • Josephine Reitman, known for “Juno.”
  • Savannah Lee Smith, kown for “Tunsel Town.”
  • Lisa Yamada, known for “Elle.”
  • Ty Law, known for “Friday Night Lights.”

“My Boyfriend is a Demon” is written and directed by first-time director mishka.

“My Boyfriend is a Demon” is filming in Providence

The movie began filming in Rhode Island in April and has rented Providence’s Cranston Street Armory for the month of May to use as a studio.

The producing team for Verdi Productions includes Chad A. Verdi, Chad Verdi Jr., Paul Luba, Michelle Verdi and Sera Verdi. Executive producers include Ketchup Entertainment and Kinolime.



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