Is 02822, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 02822 has remained a Seller's Market.
Key Takeaway
02822 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02822, RI
How much do homes in 02822, RI cost?
Median Sold Price
$511,500
$282/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 02822 have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in 02822 was $511,500 in April 2024, down 1.9% from last year, and the median price per square foot was $282.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $261.2K | $327.5K | +25.4% |
| 2 Bedrooms | $490K | $485K | -1.0% |
| 3 Bedrooms | $533K | $535K | 0.4% |
| 4 Bedrooms | $605K | $628.4K | +3.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: 02822 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.4%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 02817 | $493.7K | $570K | +15.4% |
| 02892 | $492.4K | $546K | +10.9% |
| 02822 | $521.5K | $511.5K | -1.9% |
| 02898 | $380K | $345K | -9.2% |
Housing Supply in 02822, RI
How many homes are available in 02822, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Summary: The 02822 real estate market had 11 homes for sale in April 2024, a 83.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 0 | 3 | +100.0% |
| 3 Bedrooms | 4 | 7 | +75.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 02822 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 75%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 02822, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 02822 in April 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for 02822, RI
How long does it take to sell a home in 02822, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 23 Days | 15 Days | -34.8% |
Summary: Homes in 02822 had an average of 15 days on market in Apr 2024, down by 34.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02822 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 02822; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
