What Is the Cost of Selling a House in Rhode Island?

If you’re like many Rhode Island homeowners, your home is probably your largest financial asset. Selling it is a major decision. Whether you’re moving out of state, relocating to the suburbs, or looking to downsize, you’re likely aiming for a smooth sale that will produce the best possible return.

As you get ready to list, it’s essential to understand the potential costs involved in selling your Rhode Island home. This guide breaks down the typical home-selling costs you can expect in Rhode Island and includes expert agent insights to help you plan with confidence.

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Housing trends in Rhode Island

Like many areas across the country, both buyers and sellers in the Rhode Island housing market are facing high interest rates and increasing home prices.

“In Rhode Island, I believe we’re still in a strong seller’s market where the demand from home buyers is still far outpacing the supply of homes available for purchase. It’s still a competitive market,” says Nick Slocum, a top Rhode Island real estate agent with over 19 years of experience.

“But with that being said, buyers are able to find great opportunities with the right partnerships with agents and the right persistence to accomplish their goals in the housing market,” he continues.

Here’s a snapshot of the current real estate conditions in Rhode Island:

Sources: Rhode Island Association of Realtors, Redfin, World Population Review

As a seller in Rhode Island, one important metric to consider is the days on market (DOM), which indicates the average time from listing a home to securing a signed purchase agreement. In Rhode Island, the average DOM is currently 31 days.

Start with a home value estimate

A great first step in estimating the cost of selling your Rhode Island home is obtaining an accurate home value estimate.

Given the constant fluctuations in home values and market trends, now is an excellent time to check what your home is worth. You might be pleasantly surprised by its value.

To get a quick online value estimate, you can request one through HomeLight’s Home Value Estimator. This free automated valuation model (AVM) tool will factor in recent sales, local market trends, and your Rhode Island home’s latest selling price to give you a ballpark value range in under two minutes. To begin, just enter your address.

How much does it cost to sell a house in Rhode Island?

The cost to sell a home in Rhode Island varies. Based on our findings, it typically ranges from 6% to 10% of your property’s sold price.

For instance, if you sell your home for $480,000 — the median home price in Rhode Island — your selling costs might be approximately $28,800 to $48,000.

Where you land within that range depends on several factors, including how much you spend on home prep, agent commissions, and any concessions you choose to offer to the buyer. Let’s break down the key expenses to consider when calculating the cost of selling your Rhode Island home.

What are common expenses for sellers in Rhode Island?

Slocum notes that the cost of selling a house in Rhode Island can differ significantly based on individual circumstances within the state’s evolving market.

“That’s a question that we always go over with our potential sellers in the form of an estimated net proceeds sheet. There are various expenses when selling a home in Rhode Island,” Slocum says.

Some of these expenses include preparing your home for listing, which can vary depending on its size, age, and condition. Below are estimated prices to help you plan your sale.

Prepping your house for sale

Prepping your Rhode Island home for sale typically costs between 1.5% and 2.7% of your home’s final sale price. Based on the median price of a home in the state, this could range from $7,200 to $12,960.

Here’s how these expenses might break down:

• Pre-sale repairs: $4,500-$5,400, depending on the year your home was built and its maintenance history.
• Staging the home: $1,500-$4,000 (recommended by agents for higher proceeds).
• Professional cleaning services: $118-$237, depending on the home’s size.
• Interior painting: $966-$3,086.
• Landscaping: $1,248-$6,281.
• Pre-listing inspection: $250-$500 if desired.

Before starting major projects like a kitchen remodel or roof replacement, it’s a good idea to check in with your Realtor. A knowledgeable Rhode Island agent can help you decide what’s worth updating — and what not to fix — based on current market expectations.

Realtor fees in Rhode Island

Agent commissions are one of the most significant costs in a real estate transaction. In Rhode Island, Realtor fees can range from 2.5% to 6%, depending on whether you choose to pay the buyer’s agent commissions, which is no longer required due to a landmark court settlement that changed commission rules nationwide.

Based on the median home price of $480,000 in Rhode Island, you can expect to pay between $12,000 (2.5%) and $28,800 (6%) in real estate agent commissions.

Though agent commissions may seem steep, partnering with a skilled professional can have a notable impact on your final net proceeds. HomeLight transaction data indicates that the top 5% of agents across the U.S. sell homes for as much as 10% more than the average agent.

Later in this post, we’ll illustrate how agent commissions might affect your total selling costs in our at-a-glance overview example chart.