Is 02816, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 02816 has remained a Seller's Market.
Housing Prices in 02816, RI
How much do homes in 02816, RI cost?
Median Sold Price
$378,430
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 02816 was $378,430 in March 2024, up 11.3% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $227.5K | $217.5K | -4.4% |
2 Bedrooms | $240.5K | $224.5K | -6.7% |
3 Bedrooms | $376.5K | $405K | +7.6% |
4 Bedrooms | $432.5K | $510K | +17.9% |
5+ Bedrooms | $380K | $427.5K | +12.5% |
Summary: 02816 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 12.5%.
Housing Supply in 02816, RI
How many homes are available in 02816, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
94 | 93 | -1.1% |
Summary: The 02816 real estate market had 93 homes for sale in March 2024, a 1.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 33 | 38 | +15.2% |
3 Bedrooms | 48 | 42 | -12.5% |
4 Bedrooms | 12 | 10 | -16.7% |
5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The 02816 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 15.2%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 24 | -14.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in 02816 in March 2024, down by 14.3% month-over-month. Of the 24 sold homes, 29% were sold under asking, 4% were sold at asking, and 67% were sold over asking.
Days on Market for 02816, RI
How long does it take to sell a home in 02816, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 35 Days | +22.0% |
Summary: Homes in 02816 had an average of 35 days on market in Mar 2024, up by 22% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 24 homes were sold in 02816; 58% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.