Is 02885, 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, 02885 has remained a Seller's Market.
Key Takeaway
02885 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02885, RI
How much do homes in 02885, RI cost?
Median Sold Price
$475,000
$291/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02885 have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in 02885 was $475,000 in March 2024, up 8.9% from last year, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $106.1K | - | N/A |
| 2 Bedrooms | $347.5K | $428K | +23.2% |
| 3 Bedrooms | $420K | $516.5K | +23.0% |
| 4 Bedrooms | $585K | $452.5K | -22.6% |
| 5+ Bedrooms | $575K | $595K | +3.5% |
Summary: 02885 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.2%, 3 bedroom homes increased by 23%, 4 bedroom homes decreased by 22.6%, and 5+ bedroom homes increased by 3.5%.
Housing Supply in 02885, RI
How many homes are available in 02885, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Summary: The 02885 real estate market had 16 homes for sale in March 2024, a 6.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 02885 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02885, expect to pay close to the asking price. 80% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in 02885 in March 2024, down by 28.6% month-over-month. Of the 5 sold homes, 20% were sold under asking, 80% were sold at asking, and 0% were sold over asking.
Days on Market for 02885, RI
How long does it take to sell a home in 02885, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 38 Days | +35.7% |
Summary: Homes in 02885 had an average of 38 days on market in Mar 2024, up by 35.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02885 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in 02885; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
