Is 02882, 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, 02882 has remained a Seller's Market.
Key Takeaway
02882 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02882, RI
How much do homes in 02882, RI cost?
Median Sold Price
$800,000
$457/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 02882 have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in 02882 was $800,000 in April 2024, up 7.4% from last year, and the median price per square foot was $457.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $381.5K | $322.5K | -15.5% |
| 2 Bedrooms | $605K | $601K | -0.7% |
| 3 Bedrooms | $750K | $815K | +8.7% |
| 4 Bedrooms | $930K | $825K | -11.3% |
| 5+ Bedrooms | $1.3M | $1.1M | -20.0% |
Summary: 02882 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.5%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 8.7%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes decreased by 20%.
Housing Supply in 02882, RI
How many homes are available in 02882, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 50 | 56 | +12.0% |
Summary: The 02882 real estate market had 56 homes for sale in April 2024, a 12.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 16 | 13 | -18.8% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The 02882 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 18.8%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 15 | +36.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02882, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 02882 in April 2024, up by 36.4% month-over-month. Of the 15 sold homes, 47% were sold under asking, 20% were sold at asking, and 33% were sold over asking.
Days on Market for 02882, RI
How long does it take to sell a home in 02882, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 49 Days | 45 Days | -9.3% |
Summary: Homes in 02882 had an average of 45 days on market in Apr 2024, down by 9.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02882 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in 02882; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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