Is 02857, 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, 02857 has remained a Seller's Market.
Key Takeaway
02857 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02857, RI
How much do homes in 02857, RI cost?
Median Sold Price
$452,000
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02857 have sold for 7% more than they did a year ago.
Summary: The median home sold price in 02857 was $452,000 in March 2024, up 7% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $207K | -17.2% |
| 2 Bedrooms | $367K | $410K | +11.7% |
| 3 Bedrooms | $426.2K | $480K | +12.6% |
| 4 Bedrooms | $500K | $575K | +15.0% |
| 5+ Bedrooms | $574.2K | $850K | +48.0% |
Summary: 02857 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.2%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 48%.
Housing Supply in 02857, RI
How many homes are available in 02857, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 17 | +13.3% |
Summary: The 02857 real estate market had 17 homes for sale in March 2024, a 13.3% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The 02857 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02857, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 02857 in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for 02857, RI
How long does it take to sell a home in 02857, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 28 Days | -50.1% |
Summary: Homes in 02857 had an average of 28 days on market in Mar 2024, down by 50.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02857 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 02857; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
