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Featured local agent — Melville, RI
Sarah Mitchell
Compass Real Estate · Melville, RI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Melville, RI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$490,000median sale price
How is the Melville, RI housing market right now?
The median home sale price in Melville, RI is $490,000. Homes sell in an average of 68 days. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of February 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Melville a buyer's or seller's market?
Melville, RI is currently a leaning buyer's and homes selling in about 68 days. How we determine this →
Homes sold
1
Last 12 weeks
Days on market
68
Average pace
Active listings
—
Sale-to-list
98.8%
Below asking
What does the Melville housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $490,000 |
| Average days on market | 68 days |
| Sale-to-list price ratio | 98.8% |
| Median price per sq ft | $305/sq ft |
| Homes sold (latest month) | 1 |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
How much do homes cost in Melville by property type?
How the Melville, RI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Condo / Co-op | $490,000 | $305/sq ft | 1 | 68 days |
Source: Redfin · Updated monthly
The Melville housing market is currently classified as a leaning buyer's with a median sale price of $490,000. Prices have fallen 0.0% compared to last year, with homes spending an average of 68 days on market.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Homes for sale in Melville
Explore homes currently listed for sale in Melville, Rhode Island across major real estate platforms.
Who lives in Melville?
Population
1,840
Median income
$103,393/yr
Median age
29.2 years
Owner-occupied
3.8%
College grads
63.0%
Avg commute
11.6 min
Source: U.S. Census Bureau ACS
What is it like to live in Melville?
Melville is a community of approximately 2K residents with a median age of 29.2 years.The median household income is $103,393, which reflects a relatively affluent area with strong earning potential. 63.0% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 3.8%, showing a blend of owner and renter-occupied properties. The average commute time is 11.6 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Melville offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Melville, RI?
Want a head-to-head view? Compare Melville side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Melville?
The median home sale price in Melville is $490,000, down 0.0% from last year.
How long do homes stay on market in Melville?
Homes typically spend 68 days on market before going under contract.
What is the median income in Melville?
The median household income is $103,393 per year.
What is the median condo price in Melville?
The median condo/co-op sale price in Melville, RI is $490,000, based on the latest Redfin data.
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