Is Block Island, RI 02807 a buyer’s or seller’s market?
Block Island is a buyer’s market. With about 9.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Block Island housing market right now
In the three months ending August 31, 2026, 0% of homes in Block Island, RI 02807 sold above their list price, the typical home went under contract in 145 days and there were 9.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 5 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 20%, homes sold more slowly (30 days then) and the median sale price rose 27% to $2,224,038. Overall, Block Island is less competitive than a year ago, which gives buyers more room.
Within Washington County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Wood River Junction 02894 (100% sold over asking) and Hopkinton 02833 (67% sold over asking) are even more competitive.
Run the numbers for 02807
Nearby markets
Ashaway 02804Seller’s market $292 /sq ftBradford 02808Seller’s market $328 /sq ftCarolina 02812 $316 /sq ftCharlestown 02813Balanced $412 /sq ft Browse all markets →Where Block Island is
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Questions about Block Island real estate
Is Block Island a buyer’s or seller’s market?
A buyer’s market: there were 9.6 months of supply in Block Island, RI 02807 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Block Island?
The typical home went under contract in 145 days in the latest three months.
Do homes in Block Island sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 93.8% of the list price.
What are property taxes in Block Island?
About 1.00% of a home’s value a year in Washington County, or roughly $4,000 on a $400,000 home.
What is the median home price in Block Island?
The median sale price was $2,224,038 in the three months ending August 31, 2026, about $1,056 per square foot.
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More tools for 02807
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology