MA/RI Housing Market Update — September 2026

If you're buying, selling, or just keeping an eye on your equity in Massachusetts or Rhode Island, here's where things actually stand right now.

Mortgage Rates

The 30-year fixed is sitting around 6.7%–6.8%, near the top of its range for the past year. The Fed's target rate has held at 3.50%–3.75%, and nothing in recent inflation or jobs data has pushed them to move it. Forecasts from Fannie Mae and the Mortgage Bankers Association put 30-year rates staying in the 6.6%–6.8% range through the end of 2026 and into 2027 — so if you're waiting for a drop back to 5%, plan for a long wait instead.

What this means: Get quotes from 3–5 lenders on the same day for a real comparison, and if you're closing within 30–60 days, locking your rate now is the conservative move.

Massachusetts: Still a Seller's Market

• Median sale price: ~$690,000, essentially flat year-over-year
• Inventory: just 1.19 months of supply — well below the 5–6 months considered balanced
• Homes are selling in 54 days on average at 100.7% of asking price
• Sales volume is up sharply from last year

Translation: sellers still have real leverage, and well-priced homes are moving fast with multiple offers common. Buyers need to be pre-approved and ready to move the day a good listing hits.

Rhode Island: Tight and Steady

• Median sale price: ~$500,000–$515,000, up modestly year-over-year
• Inventory: around two months of supply, among the tightest in the Northeast
• 44.6% of homes are selling above list price
• Median days on market: 33 days

Rhode Island's zoning restrictions and limited buildable land keep new construction slow, which is the main driver behind the persistent shortage. Northern RI — including Cumberland, Lincoln, and Manville — continues to see steady demand from both local buyers and people relocating from Massachusetts for more affordable housing stock.

What This Means If You're Buying

• Get pre-approved before you start touring homes — in this inventory environment, you need to move fast.
• Don't count on rates dropping to bail out affordability. Budget at today's rates, not last year's.
• In Wrentham, Franklin, Cumberland, and Lincoln/Manville, well-priced homes are still drawing multiple offers — come in with your strongest offer up front.

What This Means If You're Selling

• Low inventory still favors you. Homes priced correctly are selling at or above asking in both states.
• Days-on-market is short — don't overprice and expect a slow negotiation to still work in your favor.
• If you've been sitting on the fence, current conditions (tight supply, resilient demand) are about as favorable as it gets for listing.

Bottom Line

Neither market shows signs of a correction. Rates are higher than buyers would like, but tight inventory in both Massachusetts and Rhode Island keeps this a competitive market for sellers and a "be ready to act" market for buyers. If you want a read on what your specific property or target neighborhood looks like right now, reach out — happy to run the numbers.