Is 02886, 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, 02886 has remained a Seller's Market.
Key Takeaway
02886 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02886, RI
How much do homes in 02886, RI cost?
Median Sold Price
$390,375
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 02886 have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in 02886 was $390,375 in April 2024, up 11.5% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $203.2K | $220K | +8.2% |
| 2 Bedrooms | $318K | $343.5K | +8.0% |
| 3 Bedrooms | $356.2K | $400K | +12.3% |
| 4 Bedrooms | $449.4K | $515K | +14.6% |
| 5+ Bedrooms | $420K | $496K | +18.1% |
Summary: 02886 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.2%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 18.1%.
Housing Supply in 02886, RI
How many homes are available in 02886, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 76 | -6.2% |
Summary: The 02886 real estate market had 76 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 | 0 | -100.0% |
| 2 Bedrooms | 19 | 26 | +36.8% |
| 3 Bedrooms | 40 | 35 | -12.5% |
| 4 Bedrooms | 17 | 12 | -29.4% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 02886 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 36.8%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 29.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 27 | 26 | -3.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02886, you could pay more than the asking price. 57.7% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 02886 in April 2024, down by 3.7% month-over-month. Of the 26 sold homes, 15% were sold under asking, 27% were sold at asking, and 58% were sold over asking.
Days on Market for 02886, RI
How long does it take to sell a home in 02886, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 14 Days | 19 Days | +35.1% |
Summary: Homes in 02886 had an average of 19 days on market in Apr 2024, up by 35.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02886 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 26 homes were sold in 02886; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
