Is 02859, 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, 02859 was a Buyer's Market.
Key Takeaway
02859 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02859, RI
How much do homes in 02859, RI cost?
Median Sold Price
$400,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02859 have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in 02859 was $400,000 in March 2024, up 3.9% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $295K | $230K | -22.0% |
| 2 Bedrooms | $329K | $330K | 0.3% |
| 3 Bedrooms | $400K | $415K | +3.8% |
| 4 Bedrooms | $495K | $392.5K | -20.7% |
| 5+ Bedrooms | $410K | $410K | 0.0% |
Summary: 02859 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22%, 2 bedroom homes increased by 0.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 20.7%, and 5+ bedroom homes did not change.
Housing Supply in 02859, RI
How many homes are available in 02859, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The 02859 real estate market had 24 homes for sale in March 2024, a 9.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 02859 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 75%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02859, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 02859 in March 2024, up by 200.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for 02859, RI
How long does it take to sell a home in 02859, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 77 Days | 18 Days | -76.1% |
Summary: Homes in 02859 had an average of 18 days on market in Mar 2024, down by 76.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02859 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 02859; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
