Is 02806, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 02806 was a Seller's Market.
Key Takeaway
02806 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 02806, RI
How much do homes in 02806, RI cost?
Median Sold Price
$675,000
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02806 have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in 02806 was $675,000 in March 2024, up 0.8% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $404K | $500K | +23.8% |
| 3 Bedrooms | $580K | $615K | +6.0% |
| 4 Bedrooms | $890K | $840K | -5.6% |
| 5+ Bedrooms | $1.2M | $1.2M | +3.2% |
Summary: 02806 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 6%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 3.2%.
Housing Supply in 02806, RI
How many homes are available in 02806, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 29 | 38 | +31.0% |
Summary: The 02806 real estate market had 38 homes for sale in March 2024, a 31.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 10 | 15 | +50.0% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The 02806 housing inventory by bedroom type for March 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 50%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02806, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 02806 in March 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for 02806, RI
How long does it take to sell a home in 02806, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 53 Days | 20 Days | -62.5% |
Summary: Homes in 02806 had an average of 20 days on market in Mar 2024, down by 62.5% 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 02806 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 02806; 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.
