Is 02860, 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, 02860 has remained a Seller's Market.
Key Takeaway
02860 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02860, RI
How much do homes in 02860, RI cost?
Median Sold Price
$394,750
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 02860 have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in 02860 was $394,750 in April 2024, up 7.6% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $198K | +7.0% |
| 2 Bedrooms | $280.5K | $277.5K | -1.1% |
| 3 Bedrooms | $325K | $362.5K | +11.5% |
| 4 Bedrooms | $367.5K | $394K | +7.2% |
| 5+ Bedrooms | $450K | $505K | +12.2% |
Summary: 02860 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 12.2%.
Housing Supply in 02860, RI
How many homes are available in 02860, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 97 | 91 | -6.2% |
Summary: The 02860 real estate market had 91 homes for sale in April 2024, a 6.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 14 | 10 | -28.6% |
| 3 Bedrooms | 25 | 23 | -8.0% |
| 4 Bedrooms | 18 | 22 | +22.2% |
| 5+ Bedrooms | 38 | 34 | -10.5% |
Summary: The 02860 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 decreased by 28.6%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 10.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 27 | -6.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02860, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in 02860 in April 2024, down by 6.9% month-over-month. Of the 27 sold homes, 19% were sold under asking, 4% were sold at asking, and 78% were sold over asking.
Days on Market for 02860, RI
How long does it take to sell a home in 02860, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 18 Days | -20.8% |
Summary: Homes in 02860 had an average of 18 days on market in Apr 2024, down by 20.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 02860 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in 02860; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
