Is Saunderstown, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Saunderstown has remained a Seller's Market.
Key Takeaway
Saunderstown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Saunderstown, RI
How much do homes in Saunderstown, RI cost?
Median Sold Price
$835,000
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Saunderstown have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in Saunderstown was $835,000 in May 2024, up 11.3% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $302.5K | $375K | +24.0% |
| 2 Bedrooms | $508.7K | $471K | -7.4% |
| 3 Bedrooms | $638K | $674.9K | +5.8% |
| 4 Bedrooms | $860K | $995K | +15.7% |
| 5+ Bedrooms | $1.1M | $1.2M | +2.8% |
Summary: Saunderstown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Saunderstown | $750K | $835K | +11.3% |
| Narragansett | $722.5K | $799.9K | +10.7% |
| North Kingstown | $567.3K | $570K | 0.5% |
| South Kingstown | $610K | $600K | -1.6% |
| Wakefield | $612.2K | $590K | -3.6% |
Housing Supply in Saunderstown, RI
How many homes are available in Saunderstown, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 28 | +86.7% |
Summary: The Saunderstown real estate market had 28 homes for sale in May 2024, a 86.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 4 | 8 | +100.0% |
| 4 Bedrooms | 8 | 15 | +87.5% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Saunderstown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 87.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Saunderstown, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Saunderstown in May 2024, up by 500.0% month-over-month. Of the 6 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Saunderstown, RI
How long does it take to sell a home in Saunderstown, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 19 Days | -49.5% |
Summary: Homes in Saunderstown had an average of 19 days on market in May 2024, down by 49.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Saunderstown are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Saunderstown; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
