Is 02874, 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, 02874 has remained a Seller's Market.
Key Takeaway
02874 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02874, RI
How much do homes in 02874, RI cost?
Median Sold Price
$845,422
$347/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02874 have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in 02874 was $845,422 in March 2024, up 11.2% from last year, and the median price per square foot was $347.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $302.5K | $375K | +24.0% |
| 2 Bedrooms | $617.5K | $471K | -23.7% |
| 3 Bedrooms | $653.5K | $680K | +4.1% |
| 4 Bedrooms | $859.5K | $979K | +13.9% |
| 5+ Bedrooms | $965K | $1.2M | +25.6% |
Summary: 02874 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24%, 2 bedroom homes decreased by 23.7%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 25.6%.
Housing Supply in 02874, RI
How many homes are available in 02874, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 19 | +5.6% |
Summary: The 02874 real estate market had 19 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 02874 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 100%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 11 | +450.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02874, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 02874 in March 2024, up by 450.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for 02874, RI
How long does it take to sell a home in 02874, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 41 Days | +71.5% |
Summary: Homes in 02874 had an average of 41 days on market in Mar 2024, up by 71.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02874 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in 02874; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
