Is 02831, 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, 02831 has remained a Seller's Market.
Key Takeaway
02831 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02831, RI
How much do homes in 02831, RI cost?
Median Sold Price
$415,000
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 02831 have sold for 1.5% less than they did a year ago.
Summary: The median home sold price in 02831 was $415,000 in April 2024, down 1.5% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | - | N/A |
| 2 Bedrooms | $325K | $339K | +4.3% |
| 3 Bedrooms | $472.5K | $457.7K | -3.1% |
| 4 Bedrooms | $610K | $425.5K | -30.2% |
| 5+ Bedrooms | $388K | $487.5K | +25.6% |
Summary: 02831 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.3%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes decreased by 30.2%, and 5+ bedroom homes increased by 25.6%.
Housing Supply in 02831, RI
How many homes are available in 02831, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Summary: The 02831 real estate market had 13 homes for sale in April 2024, a 8.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 3 | 1 | -66.7% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 02831 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 66.7%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02831, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in 02831 in April 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 02831, RI
How long does it take to sell a home in 02831, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 85 Days | 61 Days | -28.2% |
Summary: Homes in 02831 had an average of 61 days on market in Apr 2024, down by 28.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 02831 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in 02831; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
