Is 02818, 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, 02818 has remained a Seller's Market.
Key Takeaway
02818 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02818, RI
How much do homes in 02818, RI cost?
Median Sold Price
$633,212
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02818 have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in 02818 was $633,212 in March 2024, up 8.7% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $425K | $270K | -36.5% |
| 2 Bedrooms | $410K | $472.5K | +15.2% |
| 3 Bedrooms | $530K | $570K | +7.5% |
| 4 Bedrooms | $752.5K | $820K | +9.0% |
| 5+ Bedrooms | $859.5K | $863.5K | 0.5% |
Summary: 02818 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.5%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 0.5%.
Housing Supply in 02818, RI
How many homes are available in 02818, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 54 | 53 | -1.9% |
Summary: The 02818 real estate market had 53 homes for sale in March 2024, a 1.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 21 | 17 | -19.0% |
| 4 Bedrooms | 14 | 12 | -14.3% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The 02818 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 37.5%, 3 bedroom homes decreased by 19%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 9 | -30.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02818, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in 02818 in March 2024, down by 30.8% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for 02818, RI
How long does it take to sell a home in 02818, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 49 Days | 24 Days | -50.8% |
Summary: Homes in 02818 had an average of 24 days on market in Mar 2024, down by 50.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 02818 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in 02818; 89% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
