Is 02871, 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, 02871 has remained a Seller's Market.
Housing Prices in 02871, RI
How much do homes in 02871, RI cost?
Median Sold Price
$650,000
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 02871 was $650,000 in March 2024, up 8.3% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $412.5K | $352K | -14.7% |
2 Bedrooms | $440K | $577.5K | +31.3% |
3 Bedrooms | $581.5K | $610K | +4.9% |
4 Bedrooms | $777.3K | $815K | +4.8% |
5+ Bedrooms | $1.2M | $2.9M | +137.1% |
Summary: 02871 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.7%, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 137.1%.
Housing Supply in 02871, RI
How many homes are available in 02871, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
74 | 84 | +13.5% |
Summary: The 02871 real estate market had 84 homes for sale in March 2024, a 13.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 21 | 26 | +23.8% |
3 Bedrooms | 30 | 33 | +10.0% |
4 Bedrooms | 13 | 17 | +30.8% |
5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The 02871 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 23.8%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 29 | +163.6% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 02871 in March 2024, up by 163.6% month-over-month. Of the 29 sold homes, 66% were sold under asking, 7% were sold at asking, and 28% were sold over asking.
Days on Market for 02871, RI
How long does it take to sell a home in 02871, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
64 Days | 66 Days | +2.6% |
Summary: Homes in 02871 had an average of 66 days on market in Mar 2024, up by 2.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in 02871; 38% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.