Is 02835, 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, 02835 was a Seller's Market.
Key Takeaway
02835 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 02835, RI
How much do homes in 02835, RI cost?
Median Sold Price
$1,015,000
$573/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02835 have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in 02835 was $1,015,000 in March 2024, up 6.8% from last year, and the median price per square foot was $573.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $385K | $722.5K | +87.7% |
| 2 Bedrooms | $658.6K | $796.6K | +20.9% |
| 3 Bedrooms | $950K | $1.1M | +15.8% |
| 4 Bedrooms | $1.3M | $1.6M | +23.3% |
| 5+ Bedrooms | $3.6M | $2.8M | -21.9% |
Summary: 02835 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 87.7%, 2 bedroom homes increased by 20.9%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes decreased by 21.9%.
Housing Supply in 02835, RI
How many homes are available in 02835, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Summary: The 02835 real estate market had 19 homes for sale in March 2024, a 35.7% increase 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 02835 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 25%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02835, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 02835 in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for 02835, RI
How long does it take to sell a home in 02835, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 116 Days | 32 Days | -72.2% |
Summary: Homes in 02835 had an average of 32 days on market in Mar 2024, down by 72.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02835 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in 02835; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
